Minnesota Senate Republicans on Monday released a $2.73 billion proposal to repay the state’s debt to the federal government for unemployment benefits during the pandemic and prevent a looming tax hike on businesses. Minnesota’s unemployment trust fund swung from a $1.7 billion balance in January 2020 to a deficit of $1.2 billion. More than 1.3 million Minnesotans applied for unemployment benefits from the start of the pandemic through September 2021 as businesses closed or laid off workers. GOP senators and House Democrats have both signaled support for paying back the debt and replenish the trust fund early during the session.