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Dear Friends and Neighbors,
We have finished the fifth week of the legislative session. The focus of the week was unemployment insurance(UI) reform.
We were able to pass both Senate Bill 5135 and House Bill 1091. This is a good example of what we can do working together in a bipartisan manner. SB 5135 will provide an immediate tax reduction for employers. Without this bill, employers' UI taxes were expected to increase about $366 million in 2011. They increased about $360 million in 2010 or an average of 42%.
HB 1091 is more of a long-term fix and will provide stability to our employers beyond 2012. This bill would give them the certainty they need to retain existing jobs and transition into economic recovery. Our unemployment insurance fund is flush because employers have been overpaying into the system. Instead of continuing to pay high UI tax rates, let's get that money back into our state's economy and keep folks employed.
I have had the opportunity to speak with many business owners in the 25th District. Providing our employers stability and reining in payroll taxes has been very concerning for many of them. This legislation is a great step for struggling businesses to create and retain jobs in the future.
Please do not hesitate to contact me with your ideas or concerns as we move forward.
Sincerely,
Hans Zeiger
