A legislative committee was going to hold a forum Tuesday afternoon on the state’s unemployment insurance trust fund, which is used to pay out claims to the unemployed. The hearing was canceled due to the weather.
Last week Gov. Dannel P. Malloy said the state has borrowed $545 million from the federal government since the fund became insolvent in Oct. 2009. The state is expected to start paying interest of about 4 percent on the money borrowed by September.
Malloy said it’s possible that the state could borrow upwards of $800 million before that time, which means businesses may have to pay an additional $40 to $42 per employee.
“This is not exactly the time you want to look at doing something like that,” said Malloy.
But it’s a distinct possibility.
The Labor and Public Employees Committee will hear from the Department of Labor and business officials with the Connecticut Business and Industry Association.
The meeting will be rescheduled.