Policy Analysis of:CS/HB 7027: Unemployment Compensation
Unemployment is an issue in today’s society. Unemployment occurs when a person is trying to find work but is unable to. It’s becoming more difficult for people to find a job to support themselves or their family. The unemployment rate for Florida is 5.6% “According to International Labor Organization report, more than 197 million people globally are out of work or 6% of the world's workforce were without a job in 2012.” In 2012, the Unemployment Compensation’s name was changed to Reemployment Compensation. And also renamed the Unemployment Compensation Program to the Reemployment Assistance Program. The Bill defines “Reemployment Assistance; specifies what constitutes prima facie evidence that person claimed & received reemployment assistance from state through transaction history & payment; provides scoring requirements; provides work search requirements for certain claimants; clarifies how disqualification for benefits for fraud is imposed; revives, readopts, & amends provisions relating to temporary extended benefits; provides for retroactive applications; provides for applicability relating to extended …show more content…
The bill provides tax alleviation to Florida employers by lowering the wages for tax years 2012 through 2014 and increasing recoupment period used in the calculation from 3 years to 5 years until tax year 2018. However, State and Federal government have negative impacts from this bill. State government provides majority of the funding to pay for the benefits provided to the unemployed, while, the federal government pays for the administrative costs. The government pays for these costs through the taxes collected from employers. “Jobless Americans have collected more than half a trillion dollars in benefits over the past five years. State and federal unemployment insurance programs have cost roughly $520 billion, according to a Congressional Budget
Unemployment is an issue in today’s society. Unemployment occurs when a person is trying to find work but is unable to. It’s becoming more difficult for people to find a job to support themselves or their family. The unemployment rate for Florida is 5.6% “According to International Labor Organization report, more than 197 million people globally are out of work or 6% of the world's workforce were without a job in 2012.” In 2012, the Unemployment Compensation’s name was changed to Reemployment Compensation. And also renamed the Unemployment Compensation Program to the Reemployment Assistance Program. The Bill defines “Reemployment Assistance; specifies what constitutes prima facie evidence that person claimed & received reemployment assistance from state through transaction history & payment; provides scoring requirements; provides work search requirements for certain claimants; clarifies how disqualification for benefits for fraud is imposed; revives, readopts, & amends provisions relating to temporary extended benefits; provides for retroactive applications; provides for applicability relating to extended …show more content…
The bill provides tax alleviation to Florida employers by lowering the wages for tax years 2012 through 2014 and increasing recoupment period used in the calculation from 3 years to 5 years until tax year 2018. However, State and Federal government have negative impacts from this bill. State government provides majority of the funding to pay for the benefits provided to the unemployed, while, the federal government pays for the administrative costs. The government pays for these costs through the taxes collected from employers. “Jobless Americans have collected more than half a trillion dollars in benefits over the past five years. State and federal unemployment insurance programs have cost roughly $520 billion, according to a Congressional Budget