National Federation of Independent Business (NFIB) member testifies in front of Ways and Means Committee
Washington, D.C. (September 7, 2016) –National Federation of Independent Business (NFIB) member Walter Carpenter of Orlando, FL will testify this morning in front of the House Ways and Means Committee on the employer’s perspective on the unemployment insurance system. Carpenter is a partner at Pinel & Carpenter, a real estate valuation and consulting firm.
“As an employer, I’ve seen the effects that the unemployment insurance system can have on a business firsthand,” said Carpenter. “I believe it is critical that the tax rate stays low and stable, that the system remains primarily controlled by states, and that the integrity of the system should be maintained and improved.”
Carpenter will testify about the experience of his state’s system, which, like many other state programs, was forced to borrow money from the federal government to maintain benefits. Employers worked with the state to increase the insurance trust fund to repay these loans. Tax rates were lowered in 2014 after the trust fund was refilled and the federal loans were paid off.
“Unemployment insurance is critical to workers and Congress should do what it can to make sure that state programs are healthy and able to be there during difficult economic times,” said Carpenter. “I believe states should continue to take the lead in running these programs, as they understand the local conditions for job growth. Congress has an important role, but needs to avoid the urge to do too much.”