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Last Chance for Texas to Collect $555 Million to Reduce Employer UI Taxes

  

Author:
Leslie Helmcamp /(512) 320-0222

February 23, 2011

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Texas has until August 2011 to collect $555 million in federal funds to reduce employer unemployment insurance (UI) taxes. To draw down the money, the state need only make three common-sense policy changes that would save jobs, increase economic activity, and stabilize employer tax rates in 2012 and 2013. To date, 39 states have been approved for $3.4 billion in U.S. Department of Labor incentive payments. This policy page outlines the modest steps Texas must take to help both employers and employees.