Texas Forced to Borrow Money for Unemployed

By: Joe Brown Email
By: Joe Brown Email

The State of Texas is taking drastic measures to keep the money flowing for those looking for work.

The state unemployment insurance trust fund will run out of money next week, forcing the Texas Workforce Commission to borrow $643 million from the federal government to cover claims.

State officials say they've been overwhelmed by those applying for unemployment. "It's kind of a double-edged sword," said Tom Wilkinson, Brazos Valley Council of Governments. "As more people are drawing, less people are working, so less money is going in."

Barring a unexpected economic turnaround, up to 82,000 unemployed Texans could see their insurance trust fund benefits run out in the coming months.

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