Plain English Breakdown
The bill does not provide specifics on how much debt is in the Unemployment Trust Fund or which businesses would be affected, leaving these details uncertain.
Unemployment Trust Fund Debt
This measure urges Congress to pass a law ensuring federal unemployment taxes on businesses do not increase due to debt in the Unemployment Trust Fund caused by state decisions leading to more unemployment claims.
What This Bill Does
- Urges Congress to enact legislation that prevents federal unemployment taxes from increasing because of debt in the Unemployment Trust Fund.
- Specifies that this debt is a result of increased filings due to state actions such as business shutdowns, extensions of shutdowns, or lapses in fraud prevention.
Who It Names or Affects
- Businesses paying federal unemployment taxes
- States making decisions about business closures and fraud prevention
Terms To Know
- Unemployment Trust Fund
- A fund where money is kept to help people who are out of work.
- Federal unemployment taxes
- Taxes that businesses pay to the federal government for unemployment benefits.
Limits and Unknowns
- Does not specify what happens if Congress does not pass this law.
- Does not provide details on the amount of debt in the Unemployment Trust Fund or which specific businesses would be affected.