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Moore votes to limit employer tax burden
February 14, 2008 ... During Wednesday’s formal session, Sen. Richard T. Moore, D-Uxbridge, voted to prevent a scheduled increase in the unemployment insurance rate, a move that will save businesses $153 million dollars this year and help stimulate job growth in a slumping economy. “This is a logical move that I encourage the Administration to support,” said Moore. “With a healthy trust fund already and an economic forecast that is weak, this is an ideal time to give businesses a break and allow them to expand and put people to work.” The Commonwealth’s unemployment insurance trust fund provides financial assistance to people who lose their jobs. The fund is supplied solely by employers who are required to pay fees to support the unemployment insurance program. The trust fund currently has a balance of $1.2 billion. The legislation passed by the Senate today will keep unemployment insurance rates at the same level this year as the previous four years. The bill now goes to the Governor for his approval. |
