Come January 1st, Georgia employers will be forced to fork out more money for every employee they have.
It's all to help pay back a $720 million federal loan the state took out to pay for unemployment benefits.
In December 2009, the state's unemployment benefits dried up,
leaving the state with no options other than taking money from the federal government.
Now, every private business will pay double for their federal unemployment insurance tax.
Right now, the tax is $21 per employee. Next year it will be $42, and the year after that it will be $63.
Every year there's a balance on the loan the tax goes up an extra $21. According to the Georgia Department of Labor, the loan won't be paid off until around 2015 making the tax $105 per employee at that date.
State Representative Robert Dickey says, "We're trying to have an environment here in Georgia to attract businesses and to grow jobs, and this just goes right in the face of it...so it's unfortunate."
According to the Department of Labor, $80,000 worth of interest accrues on this loan every day.
Lawmakers plan to look into repayment options when the general assembly meets in January.