Reduced Benefits http://wfae.org en Expect Reduced Benefits, Higher Taxes To Pay Back Unemployment Insurance Debt http://wfae.org/post/expect-reduced-benefits-higher-taxes-pay-back-unemployment-insurance-debt <p>North Carolina legislative leaders will unveil a plan Wednesday to pay back a massive debt to the federal government. The state owes nearly $2.5 billion for money it borrowed during the recession to pay for unemployment insurance.</p><p>Legislators in charge of the plan to pay that back say the solution will likely include fewer benefits for the unemployed and higher taxes for some businesses.</p><p>North Carolina's unemployment insurance is fully funded by businesses. Most of them pay a tax on every employee they have, and that money goes into a giant trust fund.</p> Mon, 03 Dec 2012 22:33:35 +0000 Michael Tomsic 16961 at http://wfae.org