Proposed Act would provide incentivies for states to recoup fradulent unemployment

The proposed Protecting Taxpayers and Victims of Unemployment Fraud Act would give states incentives for recouping fraudulent unemployment insurance (UI) payments. Lawmakers say it would reduce the federal deficit by shifting program monitoring to the state level. A Congressional Budget Office (CBO) cost estimate says the benefits of doing so may be hard to quantify. Dept. of Labor data shows that improper UI payments totaled at least $191 billion. The CBO estimates the bill could increase revenues by $80 million and decrease direct spending by $293 million over a 10-year period, but says there’s “significant uncertainty” with these projections. Read the CBO estimate: https://bit.ly/3LLorQn