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How businesses could see higher unemployment taxes

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Many states throughout the nation are feeling the pressure to provide much-needed relief to those that remain unemployed.

With 20 states turning to the government for help, Illinois being one of them.

After the unemployment trust fund was drained, the state of Illinois borrowed $3.8 billion dollars to help supplement unemployment claims.

This left the state with two options, raise the unemployment taxes on businesses or cut benefits.

Though, some states, like idaho, took steps to minimize the tax hike on businesses.

As for Illinois, that's still a work in progress.

"We're working with the federal government on this question because every state in the country has the same problem, which is, there's been an unprecedented number of people who applied for unemployment, so we're hoping to get a solution, that has the federal government as a partner in that," said Illinois Governor, J.B. Pritzker.

Pritzker said, for a cut in benefits, that's nowhere in the near future.

"We will not be cutting anything at the state level in terms of unemployment. We need to eleviate the burden on families across the state that are facing unemployment, there's no doubt and I'll be advocating for that at the federal government level," said Pritzker.

According to the Tax Foundation Organization, over half of the u-s will protect businesses from certain COVID-19 related unemployment insurance benefts charges.

As for Illinois and 15 other states, they're still undetermined.

Though, Pritzker seems hopeful they'll be able to help those businesses struggling in the future.

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"Because the federal government, I think will be a partner in the endeavor, we will be able to alleviate some of the burdens put on businesses that result from so many unemployment claims," said Pritzker.

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