$462.9M, $862.3M, $1,104M. These are the numbers that can be added to what is projected in tax collections for fiscal years 2021, 2022 and 2023. This is how much more money the Indiana revenue forecasters are now projecting over what was outlined in their December 2020 forecast. The amount totals $2.4B in “new” money that the budget-makers could include [...]
The magnitude of Indiana not having a work share program during the pandemic was revealed yesterday in new research from the Brookings Institution. The national group said Indiana could have saved as many as 34,000 jobs during May through October and missed out on as much as $116 million in federal funding to pay for unemployment claims. The latter [...]
(INDIANAPOLIS) — The Indiana Chamber of Commerce applauds Gov. Eric Holcomb’s announcement today that federal CARES Act money will be used to fund Hoosiers’ unemployment insurance claims. Kevin Brinegar, Indiana Chamber president and CEO: “Directing federal CARES Act money to the unemployment insurance trust fund makes good sense for the state. This provides greater certainty for both those who [...]
During the State Budget Committee meeting last week, it was confirmed that the federal government does consider reimbursement to the state’s unemployment insurance (UI) trust fund as an eligible expense for CARES Act funds. There is approximately $700 million remaining from what was provided to Indiana for dealing with COVID-19. This means that some of those dollars could be [...]
It’s inevitable: The state’s Unemployment Insurance (UI) Trust Fund – once approaching a billion dollars – will be depleted before the end of the month. The Indiana Chamber recognizes this issue is on employers’ minds. We are communicating to the Holcomb administration that the business community should not be expected to solely replenish the fund. The pandemic was unforeseen [...]
The federal CARES Act sent $2.4 billion to the state of Indiana to be used for pandemic-related expenses. This was Indiana’s share of the general relief money to help states deal with the ramifications of the COVID outbreak. The Act included numerous other allocations designated to supplement specific state services. That money is being funneled directly to the corresponding [...]
The federal CARES Act sent $2.4 billion to the state of Indiana to be used for pandemic-related expenses. This was Indiana’s share of the general relief money to help states deal with the ramifications of the COVID outbreak. The Act included numerous other allocations designated to supplement specific state services. That money is being funneled directly to the corresponding [...]
It’s inevitable: The state’s Unemployment Insurance (UI) Trust Fund – once approaching a billion dollars – will be depleted before the end of the month. The Indiana Chamber recognizes this issue is on employers’ minds. We are communicating to the Holcomb administration that the business community should not be expected to solely replenish the fund. The pandemic was unforeseen [...]
Congress responded to the COVID-19 pandemic with a great volume and variety of relief measures in the Coronavirus Aid, Relief and Economic Security (CARES) Act. Small businesses quickly focused on the Paycheck Protection Program and emergency loans. The enhanced unemployment benefits and payroll tax changes were of interest to all. And employee retention credits were widely noted. But the [...]
The Indiana Chamber has been striving for the past few years to have the state of Indiana implement a work share program. Those efforts have inexplicably fallen on deaf ears. Now, Washington is throwing a lifeline to states that failed to act previously. But Indiana is saying no to the program – and no to the federal funds and [...]
