Hawaii Owes The Feds $700 Million. Businesses May Have To Pay The Tab…The state borrowed $700 million to pay unemployment benefits, but businesses may have to repay it.
Hawaii’s recession-stricken businesses are on the hook for a $700 million loan the state took out to pay unemployment benefits to people who were put out of work during the pandemic, and lawmakers wonder now how the business community can possibly be expected to pay that money back.
Members of Gov. David Ige’s administration were questioned during House Finance Committee meetings this month about the enormous sum owed to the federal government, a debt that is growing as the state continues borrowing to cover the cost of Hawaii workers’ jobless benefits.
