President Trump’s Budget Could Cost Ohio Employers

President Trump’s recently released budget effectively mandates that employers in states that have low balances in their unemployment compensation trust funds would be required to pay a higher federal unemployment tax than states with healthy trust fund balances.

If enacted, the projected total for the increase in taxes over the next ten years is $9.2 billion. This would require higher taxes on employers in ten states, including Ohio, even though an employer’s individual unemployment insurance account is adequate to cover charges associated with benefits.

Here is the U.S. Department of Labor unemployment insurance program outlook. 3/21/2019