IL Senators And Reps Champion Bill To Help Illinois Recover From The Pandemic By Waiving Interest On Federal Unemployment Loans
WASHINGTON, D.C. – U.S. Senate Majority Whip Dick Durbin (D-IL) and U.S. Senator Tammy Duckworth (D-IL) joined Representatives Danny K. Davis (D-IL) and Brad Schneider (D-IL) to introduce the Continued Waiver of Interest on State Unemployment Loans during the Pandemic Act . This legislation would extend the waiver of interest payments on federal unemployment loans during the pandemic to help Illinois and other states financially as they support their constituents and respond to the dual economic and health crises. The bill would extend the period of interest-free loans from September 6, 2021, to September 30, 2022. The provision is set up to be contiguous with the date of the lapse of the interest-free waiver, meaning there would be no gap in the relief to states. It would operate retroactively as if the interest-free nature had never expired. A further extension of the waiver on unemployment loan interest will improve state and business recovery in many states. “Illinoisans