Texas may have to borrow $1.5 billion

August 12, 2009 4:39:36 PM PDT
The State of Texas may have to borrow more than $1 billion from the federal government to keep paying unemployment benefits. The Texas Workforce Commission estimates the state needs $1.5 billion to pay for benefits through the end of the year.

In March, Governor Rick Perry turned down $550 million dollars in federal stimulus money. It would have gone to the state's unemployment insurance trust fund.

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