Florida Chamber Applauds Passage of Unemployment Comp Tax Reform
FOR IMMEDIATE RELEASE
CONTACT: Edie Ousley
850-521-1231 or 850-251-6261
Tallahassee, FL (March 8, 2012) – The Florida Chamber of Commerce applauds members of the Florida Legislature for avoiding a massive $817 million tax increase on Florida’s job creators by passing unemployment compensation tax reform.
“Unemployment compensation tax reform is vital in positioning Florida as one of the most favorable business climates in the global marketplace,” said Mark Wilson, President and CEO of the Florida Chamber of Commerce. “Passage of this important bill will help secure Florida’s future and build on the Florida Chamber’s efforts to create a more stable and predictable business climate.”
With the passage of HB 7027 by Rep. Doug Holder (R-Sarasota), it will:
- · Return the wage base to $8,000 from $8,500, and
- · Stretch out recoupment period from three years to five years.
Under this Florida Chamber-backed bill, unemployment comp taxes on job creators are reduced by almost $50 per employee – saving employers $549 million over two years.
The Florida Chamber thanks Rep. Holder, Sen. Ellyn Bogdanoff (R-Ft. Lauderdale), Sen. Don Gaetz (R-Destin), Rep. Will Weatherford (R-Wesley Chapel) and our partners in the business community.