https://www.mercurynews.com/2020/05/05/coronavirus-unemployment-the-last-time-edd-jobless-fund-went-broke-taxes-jumped/

California is borrowing money to keep paying unemployment claims ushered in by a feeble job market infected by the coronavirus, state officials have confirmed.

It’s not clear how California might repay the federal government for the money it is borrowing — or how much money the state will require — but the last time the state had to borrow money to keep the unemployment insurance fund afloat, tax costs for businesses rose.