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| Economy |
| Massachusetts employers facing ‘pretty staggering' hike in unemployment taxes |
| 2020-09-08 |
| [MassLive] With unemployment soaring, state lawmakers are considering ways to soften the blow from a major impending increase in the taxes employers pay toward the state’s unemployment system, a jump in costs that one business group described as a "pretty staggering." With the unemployment insurance trust fund suddenly facing a multibillion-dollar deficit over the next four years, the contributions required from Massachusetts businesses are set to increase nearly 60 percent when the calendar turns to 2021 and then continue growing at a smaller rate through 2024. Those higher taxes -- estimated at an average of $319 more per qualifying employee next year -- will be due starting in April, raising concerns that the sharp uptick will put a drag on the economic recovery from the ongoing COVID-prompted recession and make it more difficult for employers to bring back jobs they cut. |
| Posted by:746 |
| #6 Next the local pundits will wonder why all of those boutique locally-owned and run businesses all closed their doors. The Big Box retailers can budget for this bureaucratic bloodletting -- the little guys can't. |
| Posted by: magpie 2020-09-08 16:57 |
| #5 How to drive businesses out of your state: class level 101 |
| Posted by: DarthVader 2020-09-08 12:28 |
| #4 Works Progress Administration Maybe 'the Walbergs' could setup a nonprofit to rebuild Boston. |
| Posted by: Skidmark 2020-09-08 10:41 |
| #3 I was going to comment on this but the spam filter's not digging what I had to say, so guess I'm gonna punt here. |
| Posted by: Raj 2020-09-08 09:02 |
| #2 They want businesses hiring illegals? |
| Posted by: g(r)omgoru 2020-09-08 07:06 |
| #1 Socialism only works till other people's money runs out. |
| Posted by: Procopius2k 2020-09-08 06:55 |