CARES Act committee approves funding for unemployment trust fund

CARES Act committee approves funding for unemployment trust fund
A key state committee that works on funding issues stemming from the COVID-19 pandemic on Friday approved $160 million to be placed into the state’s unemployment trust fund. (Source: ABC/NBC)

LITTLE ROCK, Ark. (KAIT) - A key state committee that works on funding issues stemming from the COVID-19 pandemic on Friday approved $160 million to be placed into the state’s unemployment trust fund.

During a meeting in Little Rock, the CARES Act Steering Committee approved the request from Secretary of Commerce Mike Preston and Division of Workforce Services director Dr. Charise Childers.

Officials made the request after a larger number of people filed for unemployment benefits this year, causing the trust fund to run lower than normal.

The drop in revenues could have cost Arkansas businesses additional money through an automatic tax increase, with businesses paying an extra $10 per employee.

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