Governor Whitmer has signed a bill that will pump $140 million into Michigan’s unemployment fund.
That fund was hit hard by the pandemic, dropping from about $4.6 billion to about $500 million in a year, according to M-Live. The legislation signed Monday appropriates just under $140 million to the Michigan Unemployment Compensation Fund, including $106.8 million in federal funds, $24 million from the state general fund, and $8.9 million in state restricted funds.
Whitmer says the deposit will help small businesses balance their books by lowering the price tag of unemployment.
Michigan has paid out nearly $40 billion to unemployed workers in the state since the beginning of COVID-19.