BOSTON (WWLP) – Massachusetts employers could soon have to pay an additional 60 percent in unemployment taxes.
Lawmakers on Beacon Hill are pushing for what known as a ‘freeze,’ a move they say would limit the burden on employers, especially during our economic recovery period.
The state’s unemployment insurance trust fund currently faces a multibillion-dollar deficit. To recoup some of that money, the contributions required from Massachusetts businesses would increase by nearly 60 percent.
The legislature is now considering a freeze on the tax payment to help businesses keep their employees and boost our economic growth.
State senator Patricia Jehlen, co-chair of the Workforce Development Committee said, “We would love to freeze rather than allowing it to go up during a recovery because so many businesses are in trouble. But we really need help from the feds to make that possible.”
All eyes now turn to Washington where negotiations over a second relief package are set to begin any day now.