H.C.R. NO. 160 Summary

• Hawaii has borrowed $700,700,000 in federal unemployment insurance loans, the eighth-largest debt among states as of January 2020, to pay unemployment benefits during the COVID-19 pandemic.

• States have approximately two years to repay federal unemployment loans before the federal portion of unemployment taxes automatically increases annually for businesses until the debt is repaid.

• Urges Congress to forgive Hawaii's outstanding federal unemployment insurance loan balance and refrain from penalizing states for debts acquired due to emergency COVID-19-related funding.

• Directs transmission of certified copies of this resolution to the President Pro Tempore of the U.S. Senate, Speaker of the U.S. House of Representatives, and all members of the Hawaii Congressional Delegation.