Friday, February 05, 2010
Bill Would Help Fix Unemployment Fund
KENTUCKY...
The fund from which Kentucky's jobless draw their Unemployment Benefits has been in jeopardy for several years. A bill seeking to fix an imbalance in Kentucky's Unemployment Insurance Trust Fund cleared its first hurdle Thursday with support from business and labor.The bill would gradually raise the amount of state taxes paid by Kentucky employers to support the trust fund, which has been under strain as more Kentuckians lose jobs and seek benefits.The Kentucky Chamber of Commerce says the bill would actually save Kentucky employers more than $300 million over the next decade. That's because Kentucky is borrowing huge sums from the federal government to keep the trust fund solvent.
The fund from which Kentucky's jobless draw their Unemployment Benefits has been in jeopardy for several years. A bill seeking to fix an imbalance in Kentucky's Unemployment Insurance Trust Fund cleared its first hurdle Thursday with support from business and labor.The bill would gradually raise the amount of state taxes paid by Kentucky employers to support the trust fund, which has been under strain as more Kentuckians lose jobs and seek benefits.The Kentucky Chamber of Commerce says the bill would actually save Kentucky employers more than $300 million over the next decade. That's because Kentucky is borrowing huge sums from the federal government to keep the trust fund solvent.
# posted by Homer Owens @ 9:02 AM 
