Expected Slide in WA Unemployment Trust Fund Balance Could Trigger New Tax

Expected slide in WA unemployment trust fund balance could trigger new tax

HeraldNet.com HeraldNet.com - Everett and Snohomish County news from The Daily Herald in Everett, Washington Washington businesses would need to shoulder roughly $700 million in additional taxes in a few years unless the projected finances of the state’s unemployment insurance fund improve. Expected slide in WA unemployment trust fund balance could trigger new tax Wire Service

Expected Slide in Washington State's Unemployment Trust Fund Balance Could Trigger new tax

OLYMPIA, WA – Washington businesses would need to shoulder roughly $700 million in additional taxes in a few years unless the projected finances of the state’s unemployment insurance fund improve. Officials are looking at ways to avoid such a scenario. Unemployment is relatively low in Washington. But pandemic-era policies and increased usage during the past couple of years have strained the state’s unemployment system, which provides temporary …