Lawmakers: Fix Insolvent Unemployment Insurance Trust Fund Now

Steps were taken in 2016 via House Bill 390 to pay off the outstanding federal debt that Ohio incurred in the Great Recession.  But, no legislation was passed that corrected the conditions that caused Ohio to incur such a large federal debt, and which subjected employers to mounting FUTA taxes.

Penalty provisions were included in House Bill 390 that have the potential to dramatically increase taxes on employers.  The penalty provisions will not go away until new solvency legislation is passed.

Go here to learn a bit more about the solvency problem and the balanced approach OMA is backing.  Then, use the easy email tools here to tell your state representative and senator why having a solvent unemployment compensation trust fund helps you grow your business and provide jobs.

This legislative session ends next month.  If the General Assembly does not pass solvency measures before session ends, the whole process would need to start from scratch with a new legislature.  Ask your elected officials to finish the job on a solvent UI trust fund.

Contact OMA’s Rob Brundrett with questions or for help contacting your elected officials.  11/15/2016

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