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AURORA – Upon learning that Illinois has repaid the remaining $1.36 billion unemployment insurance (UI) Trust Fund debt, State Senator Linda Holmes released the following statement:

“I am so proud of this latest achievement in our years-long efforts to right the ship of the Illinois economy. This development will take advantage of recent progress and continue our post-pandemic recovery. I support the choices we made to pay off old debt, shore up our unemployment insurance trust fund, strengthen our Rainy Day fund and boost our pension systems.

“Paying off this debt will save Illinois hundreds of millions in interest costs. We’ve seen a series of improvements in our fiscal standing, which represents important priorities for our state. I’m proud of the dedication of the Illinois Department of Employment Security to accomplish this.”

Holmes has served as Chair of the Senate Labor Committee and a leader in the unemployment insurance working group that addressed Illinois’ unprecedented job losses through the COVID-19 recovery phase.