Gov. Mike Parson has revealed that he is utilizing $300 million in Coronavirus Relief Funds to support the state’s Unemployment Insurance Trust Fund. This move, advocated for by the Missouri Chamber of Commerce and Industry, will help prevent a tax increase on employers across Missouri, helping employers focus their resources on re-opening and getting Missourians back to work.
The following is a statement from Daniel P. Mehan, president and CEO of the Missouri Chamber of Commerce and Industry:
“We applaud Gov. Parson for taking this very important step. Any time our state faces an economic downturn and elevated unemployment, there is always a threat that employers could be on the hook for the higher taxes needed fund these benefits. Increasing expenses on employers today would only slow our economic recovery and prolong unemployment for out-of-work Missourians. The last thing employers need right now is a tax increase. With this action, Gov. Parson is wisely doing everything he can to help our state recover from the pandemic and get Missourians back to work.”