Connecticut: Unemployment Insurance Trust Fund Restoration

HARTFORD, CT (STL.News) Governor Ned Lamont is applauding the Connecticut State Senate for voting to give final legislative approval to the agreement his office negotiated with bipartisan lawmakers, business leaders, and labor representatives, that will restore Connecticut’s Unemployment Insurance Trust Fund while also reducing taxes on the majority of the state’s businesses.

The legislation, which was unanimously approved last month by the House of Representatives, next moves to the governor’s desk for his signature.

“This package of reforms that I will soon sign into law is the most significant set of reforms ever enacted in the history of Connecticut’s unemployment system,” Governor Lamont said.  “With this legislation, we are reinforcing the long-term solvency of the state’s unemployment insurance fund, ensuring that it will be there for those who need this assistance in the future while also providing predictability for our state’s employers when it comes to their contributions.  Its final legislative approval is the result of the willingness of lawmakers on both sides of the aisle, as well as business leaders and labor representatives, to sit down with my administration and hammer out a solution to this longstanding problem that has persisted in our state for too many years.  This shows what is possible when we all work together.”

The legislation is House Bill 6633, An Act Restructuring Unemployment Insurance Benefits and Improving Fund Solvency.