Bill Seeks to Fix Jobless Benefits Fund
Frankfort, KY – The Kentucky House has passed a bill aimed at shoring up the state's Unemployment Insurance Trust Fund, which pays out benefits to jobless Kentuckians. The trust fund has been under increasing pressure as the state's unemployment rate mushroomed amid the nation's worst economic downturn in decades. The bill now goes to the Senate. The measure is the product of a governor's task force and represents a compromise among business and labor interests. Under the bill, Kentucky employers would gradually pay more in taxes to fix the trust fund but not nearly as much as they would if the state continues borrowing to keep the fund afloat. Jobless workers would generally receive slightly less in weekly benefits and would have to wait a short time before receiving the assistance, starting in 2012.