PHOENIX — Arizona Senate Democrats announced Monday that they will be voting on an emergency measure to keep the state’s unemployment system solvent.
According to Sen. Linda Lopez, the state borrowed money from the federal government to keep unemployment funds from running dry. They also imposed a special assessment of Arizona employers that has expired.
“To keep us from incurring penalties, we will issue bonds to resolve the issue by May of next year,” said Lopez.
The move is expected to save the state and businesses money while ensuring that funds remain available to those who lose their jobs.