HARRISBURG — Senator Camera Bartolotta (R-46) issued the following statement today regarding savings to employers under the state’s Unemployment Compensation program:
“I am pleased to announce that we have begun the year with good news for Pennsylvania’s job creators.
“Thanks to the efforts of many Senate Republicans, particularly Senator John Gordner who was the prime sponsor of Act 60 of 2012 and Chair of the Labor and Industry Committee at the time, the Commonwealth was able to refinance unemployment compensation debt through a bond, saving employers roughly $57 million in interest costs.
“The bond was recently fully repaid, triggering the elimination of an interest tax on employers. The elimination of the interest tax will result in an estimated $552 million in savings to employers this year. This is a significant development that benefits the employer community and I am proud of the leadership the Senate Republican Caucus took to get us here.
“As the current Chair of the Senate Labor and Industry Committee, I will continue to advocate for policies that support a vibrant economy where businesses can grow and individuals can readily find family-sustaining jobs.”
CONTACT: Katrina Hanna (717) 787-1463