"When budgets begin to tighten, many state politicians start to talk tax hikes. So credit Texas Governor Rick Perry for cutting taxes this week as a way to keep his state as a national leader in job creation. Mr. Perry suspended the state unemployment insurance 'replenishment' tax for the rest of the year on grounds that government doesn't need the money but employers do."
It seems as if there's $1.6 billion socked away in the unemployment
insurance escrow accounts. More than enough, evidently, to pay out
unemployment benefits like forever. Not only that, but the state is rebating
$170 million already collected.
It was either suspend the tax or get a bigger sock.
- posted 12 years ago