As you know, employers will soon see their UI payroll taxes skyrocket absent action by the Legislature to resolve the more than $1.1 billion deficit in the UI Trust Fund and to restore $2 billion in required reserve levels. Lawmakers have until March 15 to get this done and prevent a $2.7 billion tax increase on businesses that are already combating rising inflation and a worsening workforce crisis.
Last month, the Minnesota Senate passed a bill providing the $2.7 billion needed to restore the UI Trust Fund. Now we need the House to act quickly to prevent this tax increase on Minnesota businesses.
With a historic surplus of $9.25 billion, the Legislature should take action now to hold businesses harmless from the increased UI costs associated with the pandemic.
Please contact your legislator today and let them know how this double-digit tax increase will impact your business if they don’t act by March 15.
