Unemployment Insurance Rates ‘Frozen’ and Local Employers Pleased as House of Representatives Passes Legislation
BOSTON – State Representative Thomas A. Golden, Jr. joined his colleagues in the Massachusetts House of Representatives in passing legislation that freezes a scheduled increase in the unemployment insurance assessment paid by all employers.
The new legislation neither eliminates nor diminishes those benefits already in place for workers in the Commonwealth. In addition to securing these benefits for workers, figures estimates that the legislation will save the average employer a nearly 30% increase for unemployment insurance for each employee. Current law mandates that as the funds in the unemployment system decrease, employers must increase their contributions to compensate the loss. Ultimately, the significant positive impact of the insurance rate freeze will be immediately measureable for employers, including many local business owners who struggle to stay afloat in the current economic climate.
The legislation further hopes to stimulate local business growth and expansion. Ideally, with the unemployment insurance rate frozen, more employers within the Commonwealth will be able to maintain their costs and even hire new employees.
By safeguarding those positions for individuals who are currently employed within the state, the legislation illustrates an example of the state legislature responding to real issues plaguing the general public. “I am very pleased that the House has passed this bill,” said Rep. Thomas Golden. “There are far too many small business owners who would have been severely affected by the rate increase. I am extremely happy that the legislation will help these people who are so critical to our state economy. Hopefully, the legislation will spur growth and inspire employers to take on new employees.”
The legislation also reduces appropriations for non-executive government office by 1% and addresses items that need immediate attention from the government.