In a letter dated July 24, 2020, UWC urged Congress to address UI Solvency issues with four specific provisions that should be enacted to reduce the tremendous financing burden on employers and state unemployment trust funds caused by COVID-19 closures. The request includes the following:
- Provide for a transfer of federal funds to state UI trust funds equal to the amount of benefits paid due to COVID.
- Extend the Title XII interest waiver through 2021.
- Delay the application of the FUTA offset credit reduction for a year.
- Provide short-term transfers of federal funds to state UI trust fund accounts under Section 2103 of the CARES Act (increase the 50% to 100%) specifically to reduce the charges to reimbursing employers due to the COVID-19 recession.
Please join us to sign on to this letter to demonstrate the broad concern with the impact of COVID-19 on unemployment insurance. Send an email to me to add your support.
