On top of signing the 2021-23 biennial budget on Thursday, Gov. Tony Evers also signed a bill that would prevent the increase of unemployment insurance tax rates.
According to a press release, Assembly Bill 406, now 2021 Wisconsin Act 59, ensures that the state remains in Schedule D in tax years 2022 and 2023. It’s supposed to offset lost revenue by requiring $60 million GPR be transferred to the trust fund each of the next two fiscal years.
“I am glad to be signing this bill today to ensure Wisconsin businesses and employers that were hit hard by the pandemic can continue to recover without having an undue burden of an increase in their UI tax rates,” said Evers. “We’re going to continue to provide targeted relief to workers and employers who need it most and make sure our workers, families, and economy bounce back from the COVID-19 pandemic better than before it hit.”