South Carolina retires federal loan early

A near $1 billion federal loan to help pay South Carolina unemployment insurance benefits since 2008 has been repaid early. Among those joining Governor Haley and the Department of Employment and Workforce for the announcement were Oconee state lawmakers Thomas Alexander and Bill Sandifer. The DEW yesterday made a final $120 million payment to the U-S Department of Labor. The deadline to pay off the loan was scheduled for November, but Representative Sandifer said, “By paying off the loan early, we are saving employers in our state from having to pay over $12 million in federal unemployment taxes.”