GBPI analyst says proposed bills could weaken Georgia’s unemployment insurance trust fund
Ray Khalfani, Georgia Budget Policy Institute’s senior worker justice policy analyst, says the federal government recommends that states have at least a year’s worth of funds in its unemployment insurance (UI) trust fund.
On Friday’s edition of “Closer Look,” Khalfani explained that the state of Georgia currently has four months of funding its UI trust fund.
He further explained how HB 518 and SB 160 reestablishes an administrative assessment fee but also could potentially risk the solvency of Georgia’s UI trust fund.
“They’re creating this false dilemma and the false dilemma is that— we can only adequately fund the administrative assessment part, which funds the Georgia Department of Labor’s operations,” Khalfani said. “But we can’t adequately fund our trust fund at the same time.”