The Texas Workforce Commission expects confirmation this week that it will receive a requested $160 million interest-free loan from the U.S. Department of Labor to replenish its depleted unemployment compensation trust fund.

The once-healthy fund, which is supported by a tax on employers, is being drained by mounting claims from an increasing number of laid-off Texans. It is required to hold at least $857 million, but at the beginning of June it had less than $620 million.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.