With the economic downturn the United States has been suffering, states have been providing unemployment benefits at record levels. To maintain their ability to provide these benefits, the majority of states have accepted loans from the federal government. Experts say the current trend is not sustainable and that changes must be made so that states retain their responsibility for these trust funds without overreliance on the federal government. At the same time, employers will need relief from the upcoming rise in FUTA taxes - an expense that may inhibit their ability to increase their workforces. The APA has established the GRTF Unemployment Insurance Subcommittee to explore these issues and promote solutions.
If you would like to participate in this subcommittee, please contact William Dunn, CPP, Director of Government Relations, at 202-232-6889 or [email protected].
Click here to read which states have outstanding loans from the Federal Unemployment Account.