Missouri Business Headlines

Senate committee approves House bill to tie jobless benefits to unemployment rate

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Rep. Scott Fitzpatrick’s  HB 1409, which provides more weeks of benefits during a recession and fewer weeks when jobs are plentiful, has passed the Senate Committee on Small Business and Industry.

Currently in Missouri, the unemployed can receive up to 20 weeks of benefits. This bill changes that to a sliding scale from 13 weeks if the state average unemployment rate is below 6 percent, to 20 weeks if the unemployment rate is 9 percent or higher.

This legislation will help protect Missouri from the huge debts the state absorbed to be able to pay unemployment benefits during previous recessions. These debts ultimately came out of employers’ pockets with interest.

The bill also raises the fund’s threshold before employer rate reductions are triggered. This provision will help improve its long-term solvency so Missouri can weather future recessions without costly borrowing.

Now HB 1409 goes to the Senate floor for debate.

Will tying jobless benefits to the state unemployment rate affect your business? Click here to let us know.

For more information, contact Matt Panik, Missouri Chamber Vice President of Governmental Affairs, at mpanik@mochamber.com or 573.634.3511.

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