87R16407 KSM-D     By: Rodriguez H.C.R. No. 76       CONCURRENT RESOLUTION          WHEREAS, Over the past year, more than 2 million Texans have   applied for unemployment compensation benefits as the COVID-19   pandemic caused unprecedented displacement, layoffs, and   furloughs; and          WHEREAS, The Unemployment Compensation program was designed   to help jobless Americans during economic downturns; administered   jointly by the state and federal governments, the program is funded   through reserve and surplus funds, which are financed through   payroll taxes under the Federal Unemployment Tax Act and the State   Unemployment Tax Acts; and          WHEREAS, In 2020, Texas depleted its unemployment insurance   trust fund to below the minimum level required to maintain   solvency; in order to avoid raising unemployment insurance taxes on   businesses, Texas must borrow funds from the federal Unemployment   Trust Fund; as of March 2, 2021, the State of Texas' outstanding   loan balance stands at $6.5 billion; and          WHEREAS, Fortunately, the Families First Coronavirus   Response Act provided states a temporary waiver of interest   payments and suspended the accrual of interest on federal advances   to states; those provisions were extended by the American Rescue   Plan Act, but these relief measures will expire in September 2021;   and          WHEREAS, Without further assistance from the federal   government, states such as Texas will be forced to replenish their   unemployment insurance trusts by raising business taxes, which   would inhibit economic recovery and harm already struggling   businesses and workers; now, therefore, be it          RESOLVED, That the 87th Legislature of the State of Texas   hereby respectfully urge the Congress of the United States to   provide financial assistance to the states' unemployment   compensation programs; and, be it further          RESOLVED, That the Texas secretary of state forward official   copies of this resolution to the president of the United States, to   the president of the Senate and the speaker of the House of   Representatives of the United States Congress, and to all members   of the Texas delegation to Congress with the request that this   resolution be entered in the Congressional record as a memorial to   the Congress of the United States of America.