The state of Texas jobless fund is running on empty. Because of this, the state will likely borrow nearly $1.5 billion dollars in the future from the federal government.
The low funds for unemployment benefits have occurred because of the difficult business environment right now, with many individuals having recently lost their jobs and relying on the benefits.
Texas employers in the future will likely have to pay more money in taxes in order to help rebuild the fund. It is unsure when these increases will occur.
If your business or you needs legal help, contact the Texas business attorneys of Slater Kennon LLP at 512-472-2431.
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