Bill Spares Hawaii Businesses From Replenishing UI Trust Fund -- For Now
Like most local businesses, The Pizza Press had to scramble, adjust and improvise to stay afloat in the COVID-19 pandemic. The Pearl City establishment drastically reduced the work hours for its 25 employees, relying on a “skeletal crew” to operate.
“We’re in survival mode to be able to pay our bills, pay our vendors and keep the lights on,” said co-owner Sarah Nguyen. “Every day we’re looking at our numbers. We’re looking at opportunities — what’s working, what’s not working.”
Typically, the business pays around $500 a year per employee in unemployment insurance tax, Nguyen said. Those funds help keep the state’s UI trust fund solvent to cover unemployment claims.
But COVID-19 decimated Hawaii’s economy, and the $600 million that was in the fund when the pandemic hit evaporated in less than three months as unemployment reached staggering levels as high as 25%.
Read more: https://www.civilbeat.org/2021/02/bill-spares-hawaii-businesses-from-replenishing-ui-trust-fund-for-now/
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