Indiana mulls $1 billion tax hike for unemployment fund [View all]
INDIANAPOLIS — Gov. Eric Holcomb is pushing for an increase in business taxes to provide $1 billion more for Indiana's unemployment trust fund.
The proposed 17% increase would bring premiums paid by companies to a level recommended by the federal government, The Journal Gazette reported.
But key business groups urged lawmakers to weigh the impact of raising premiums against socking money away in the fund, which is used to pay unemployment checks when the jobless rate is high.
"How much money do you take out of the economy and just have it sitting on the sidelines when that money could be invested and creating jobs?" asked Brian Burton, president and CEO of the Indiana Manufacturers Association. "It's a fine balance."
Read more: https://www.nwitimes.com/news/state-and-regional/govt-and-politics/indiana-mulls-billion-tax-hike-for-unemployment-fund/article_a1219bee-d52e-5501-84c2-c143a07ad4d1.html
(Northwest Indiana Times)
= new reply since forum marked as read