CONCORD, NH – Representative Len Turcotte (R-Barrington) released the following statement after the House passed HB1337, relative to the duration of unemployment benefits.
“HB1337 would make modest reforms to New Hampshire Unemployment Insurance that will protect benefits for future Granite Staters that need a hand up. This legislation would tie the maximum duration of benefits to the unemployment rate. Several states have already enacted this change and the results have been overwhelmingly positive. On average, enrollees in states with indexed UI benefits move off the rolls 25% faster than their counterparts. In New Hampshire, our trust fund could grow by an estimated $217 million. This would allow us to make a significant reduction in Unemployment Insurance tax rates, allowing job creators to invest that money back into the economy. HB1337 is a reform that will save taxpayer dollars, lessen the risk of tax increases, and help promote personal independence and a strong work ethic.”