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Massachusetts’ unemployment insurance system was already headed for disaster.
Our businesses big and small pay some of the highest rates in the country. And yet, the benefits that are paid out consistently outpace employer contributions. To make matters worse, the state now owes the federal government $2.1 billion as a result of misallocated state unemployment benefits that were paid out during the COVID pandemic. Without a fix to the system, Massachusetts employers will see a tax hike on top of the already high rates they pay. 71 percent of Massachusetts voters agree. It’s not fair for businesses big and small to pay for the state’s mistake. Fixing the current crisis would prevent further disruptions and improve the state’s attractiveness for business investment. High UI debt may signal a less resilient system for supporting unemployed workers during economic downturns. Businesses should not bear the financial burden of repaying a debt they didn’t cause. If the state government broke it, the government should be the ones to fix our state’s UI system. Learn more... Tom O'Rourke, CCE President and CEO Comments are closed.
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