North Carolina Governor Pat McCrory on Tuesday signed into law a measure that will cut benefits for jobless workers by about one-third and reduce how long they can collect any aid in a state with the fifth-highest unemployment rate in the country.
The Republican governor said the legislation, the second bill he has signed since taking office at the start of the year, marked an important step toward fixing the state's unemployment insurance system. The overhaul will allow North Carolina to repay $2.5 billion borrowed from the federal government for unemployment benefits at a quicker pace.
The law, which takes effect on July 1, cuts maximum weekly benefits to $350 from $535 and caps benefits at 12 to 20 weeks, depending on the unemployment rate, instead of the current 26 weeks.
McCrory said the measure "will protect our small businesses from continued over-taxation, ensure our citizens' unemployment safety net is secure and financially sound for future generations, and help provide an economic climate that allows job creators to start hiring again."
TVNL Comment: What a disgrace this is! Protecting business while letting the unemployed starve. It's ugly. Just ugly.
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