Governor Hochul and Business and Union Leaders Celebrate NYS Paying Off UI Trust Fund Debt

August 14, 2025 – Schenectady, NY – Governor Kathy Hochul celebrated with business and union leaders the state’s action to pay off the nearly $7 billion federal Unemployment Insurance (UI) Trust Fund loan — a move to bring the fund to solvency, increase benefits for unemployed New Yorkers and cut costs to businesses.