More help for businesses may be coming
The flood of people who lost their jobs during the pandemic has severely depleted the state’s unemployment insurance trust fund, which is what pays people’s benefits when they have been laid off.
To replenish the trust fund when it is low, the state’s unemployment system is set up to automatically increase taxes on businesses. Companies that lay off lots of workers end up paying more, since their former employees go on to claim a larger amount of unemployment benefits.
But state lawmakers have largely agreed that this system wasn’t built for a once-in-a-century pandemic. They see tax bills like the one Michaud
→ Continue reading at Crosscut
