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Solvency Recommendations for Ohio

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Publication Date: July 2008

Publisher(s): Tax Policy Center

Author(s): Wayne Vroman

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Economics (Economic conditions)

Keywords: Economy; State and Local Finance; Tax Policy; State and Local Issues

Type: Report

Abstract:

This report examines the funding of unemployment insurance (UI) in Ohio. It proposes seven recommendations to improve program solvency, both in the short run and in the long run. The two main recommendations to improve short-run solvency are to: 1) implement a substantial increase in the taxable wage base and 2) institute a temporary freeze in weekly benefits, both recommendations to be effective in 2009. Indexation of the taxable wage base is a principal recommendation to improve solvency in the long-run.