Nevada's unemployment trust fund depleting quickly

Nevada’s unemployment problems could be getting worse.

While people are still struggling to get their claims paid, there’s a new issue: the money’s running out!

More than 80% of the state’s trust fund is gone.

Jeremy Chen reports.

THERE'S A NEW ISSUE...THE MONEY...IS RUNNING OUT!MORE THAN "80 -PERCENT" OF THESTATE'S TRUST FUND IS GONE.13 ACTION NEWS REPORTER JEREMYCHEN IS LIVE TO EXPLAIN..WHAT THE NEXT MOVE COULD BE.TODD..TRICIA...NO DOUBT WE'VE BEEN HEARINGFROM SO MANY PEOPLE ABOUT HOWMUCH THEY DEPEND ONUNEMPLOYMENT BENEFITS TO KEEPUP WITH BILLS AND MORTGAGES.A DEPLETING TRUST FUND WILLMAKE IT CHALLENGING TO THESTATE TO CONTINUE THAT.NUMBERS DON'T PAINT A PRETTYPICTURE-OF UNEMPLOYMENT INNEVADA.THE STATE LEADING THE NATIONWITH A 25 PERCENT UNEMPLOYMENTRATE-BASED ON THEMOST RECENT NUMBERS IN MAY.THOUSANDS OF NEVADANS DEPENDINGON UNEMPLOYMENT BENEFITS.SOME...STILL STUGGLING TO GETTHEM!

"IT'S JUST SO CRUCIALTHAT WE HAVE THESE IMPORTANTBENEFITS THAT HELP WORKERS GETIT WAS AT 1.9 BILLION INJANUARY AND HAS GONE DOWN TOABOUT 769 MILLION DOLLARS AS OFLAST WEEK.NEVADA MAY FIND ITSELF POSSIBLYSEEKING HELP FROM THE FEDERALGOVERNMENT."THE FEDERAL STATE UNEMPLOYMENTINSURANCE SYSTEM HAS HADFEATURES THAT SAY WHEN STATETRUST FUNDS BECOME EXHAUSTED,STATES CAN BORROW FROM THEFEDERAL GOVERNMENT TO CONTINUEMAKING GOOD ON THEIR STATEBENEFIT PROMISES." MATTWEIDINGER WITH THE AMERICANENTERPRISE INSITITUTE SAYSUNEMPLOYMENT CLAIMS WOULD STILLBE PAID- BUT THE STATE WOULDHAVE TO FIND A WAY TO PAYBACK- POSSIBILY BY RAISINGPAYROLL TAX."LOANS ARE JUST THAT.THEY'RE LOANS, NOT GRANTS.SO EVENTUALLY THOSE FUNDS HAVETO BE REPAID AND THE WAY STATESREPAY THEM IS BY RAISING TAXESON JOBS." DETR SAYS IT EXPECTSTO SEE A BOOST IN THE FUNDNEXT MONTH-FROM EMPLOYERCONTRIBUTIONS-BUT WOULD LIKELYTURN TO FEDERAL BORROWING IFBENEFIT PAYMENTS REMAIN HIGH.NOVELLO SAYS THE HEROES ACTPASSED BY THE HOUSE-MAY BE AWAY FOR NEVADA TO GET FEDERALHELP."THAT WOULD PROVIDE UP TO 1TRILLION DOLLARS FOR STATESFOR FLEXIBLE USE FOR PROGRAMSLIKE UI."BOTH EXPERTS SAY NEVADA WAS INACTUALLY AN OKAY POSITION-WITHTHEAMOUNT IN IT'S TRUST FUNDBEFORE THE PANDEMIC-BUT THEEXTRAORDINARY NUMBEROF CLAIMS HAS LED THISPOSSIBILITY OF THE FUND RUNNINGOUT.JEREMY CHEN 13 ACTION NEWS.TONIGHT..THERE ARE MORE THAN "28