Labor Committee Hearing on Unemployment Comp Change

On Thursday, Feb. 24, the legislature’s Labor Committee will hold a public hearing on a proposal from the Connecticut Department of Labor to implement a significant change to the state’s Unemployment Compensation Trust Fund.

The department wants the legislature to set the benchmark for the trust fund reserves much higher than it is now to ensure adequate funding when the next recession occurs.

Given that the trust fund reserve goal dictates how much tax revenue is collected from employers, CBIA has serious concerns about taking too much vital capital away from private-sector employers at a time they can least afford it.

For more information, contact CBIA’s Kia Murrell at 860.244.1931 or kia.murrell@cbia.com.