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Social and Behavioral Sciences Commons

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Massachusetts

Selected Works

Christopher J. O'Leary

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Full-Text Articles in Social and Behavioral Sciences

Unemployment Insurance Policy In New England: Background And Issues, Robert Tannenwald, Christopher J. O'Leary Feb 2015

Unemployment Insurance Policy In New England: Background And Issues, Robert Tannenwald, Christopher J. O'Leary

Christopher J. O'Leary

Most states have exhausted their unemployment insurance (UI) trust fund and borrowed from the federal government at least once during the past 35 years. Under such circumstances, states are required by law to raise UI taxes to replenish their trust funds and to pay off their debts to the federal government. Since higher UI taxes increase employer costs, replenishment forces states into a trade-off between economic competitiveness and trust fund adequacy. Competitive pressures have raised questions about prevailing standards of adequacy and the speed at which they should be attained. Consequently, several states are contemplating tax reductions despite low reserves ...