HARRISBURG, Pa. (AP) — The state Senate has approved a bill to refinance the Pennsylvania unemployment compensation fund's $3 billion debt to the federal government — a move supporters say would save employers tens of millions of dollars over years.
The bill cleared the Senate on a 33-16 vote Tuesday, with three Democrats siding with the Republican majority. It next moves to the House for consideration.
The bill would authorize the Pennsylvania Economic Development Financing Agency to float bonds to pay off the federal loans the state used in recent years to help cover benefits to jobless Pennsylvanians.
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