24 Hrs
Source:
The Boston Globe
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Massachusetts unemployment tax increase slows
Governor Maura Healey has not implemented reforms to address Massachusetts' unemployment insurance system despite facing a $2 billion liability from a jobless claims blunder, and employers are now facing a potential tax increase due to declining trust fund reserves. The state's structural deficit, which reached nearly $1 billion last year, persists despite high employer unemployment taxes and ongoing discussions with stakeholders. The unemployment trust fund is projected to run into the red by 2028, especially if AI-related layoffs increase, but political obstacles and lack of consensus have delayed reform efforts.
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