NFIB: Bill that restores fund solvency expected soon.
Ohio’s unemployment insurance fund, awash in a sea of red ink,
currently owes the federal government more than a $1 billion in loans.
At present, the fund needs a plan to pay back the loans and
restore long-term solvency, says Chris Ferruso, NFIB/Ohio legislative director.
“Businesses need more-equitable tax rates and stability,”
according to a recent Columbus
Dispatch editorial.
The editorial writers cautioned against balancing the insurance
fund on the backs of Buckeye business owners.
“Raising rates to business-killing levels also would be
counterproductive, sending more Ohioans to the unemployment line — and
depleting the fund all over again,” according to the editorial.
Ferruso says he expects a bill that addresses the shortfall to
be proposed in the coming weeks.
