SC Files for Unemployment Loan
By Catherine M. Welch
Wilmington, NC – South Carolina's governor says he will request a federal loan to keep unemployment benefits flowing. The unemployment fund was expected to go broke at the end of Wednesday.
With the clock ticking, South Carolina Governor Mark Sanford will ask for the $146-million federal loan despite not having the independent audit he's wanted from the state agency that doles out unemployment benefits.
South Carolina's unemployment fund has been paying out more than it's been taking in, and Sanford says he will remove the sitting commissioners if he doesn't get to look at the books.
The state's unemployment commission argues that only lawmakers can demand an audit, which some of them have.
The federal loan will keep payments flowing to some 77,000 unemployed South Carolinians through March.
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