California’s Debt to US Government for Unemployment Loan Default Tops $21 Billion

Businesses are set to pay higher payroll taxes that increase annually until the debt is repaid.
California’s Debt to US Government for Unemployment Loan Default Tops $21 Billion
The flag of California in Newport Beach on Aug. 25, 2021. John Fredricks/The Epoch Times
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California owes the federal government about $21.1 billion for loans the state received four years ago and failed to pay back, according to data released on Dec. 20 from the U.S. Treasury Department.
In response to a question by The Epoch Times, Gov. Gavin Newsom said finding the money for the state to work its way out of the debt is a priority for his administration.
Travis Gillmore
Travis Gillmore
Author
Travis Gillmore is a White House reporter for The Epoch Times. He previously covered the California legislature and Gov. Gavin Newsom. Contact him at [email protected]
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