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UPDATE: Crist signs unemployment compensation tax deferment

by Dara Kam | March 2nd, 2010

Gov. Charlie Crist signed into law a tax break for businesses ten minutes before he began his state-of-the-state speech this evening.

The measure (HB 7033) will delay about $1.8 billion in unemployment tax payments for Florida businesses that will jump from $8 per worker to $100 per employee on April 1.

The higher tax rate kicks in in April because the number of jobless workers in Florida, among the highest in the nation, has wiped out the trust fund that pays for unemployment benefits.

Putting off the tax hike for two years means that Florida lawmakers today agreed to continue to borrow from the federal government to replenish the fund and rack up $675 million in interest payments. Those costs will be passed on to businesses over the next five years.

“Decisions are being made as we speak. Business owners are trying to determine what they’re going to do next to be able to deal with this Friday’s pay roll. This is what this bill’s about,” said Sen. Rudy Garcia, R-Hialeah.

The Senate unanimously approved the bill (HB 7033), which the House also unanimously passed earlier today.

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4 Responses to “UPDATE: Crist signs unemployment compensation tax deferment”

  1. Jason Ledger Says:

    Uh uh boo, they better not mess with my unemployment money. I gots to stay cute chichillad the F out. Who gone check me boo?? They better recognize a diva!!

  2. Saint Petersblog Says:

    Salon: “Only an act of God can save Charlie Crist’s campaign.’

  3. Dave4337 Says:

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  4. ash233 Says:

    i have 2 kids to take care of and my benfits has ended because of this bill that charlie crist trying to sign now me and my kids are going to be homeless because of him i trying to look for work but its know work out there i’m been getting my benfits for 6months now my benfits last day was in 10-10-10 but its ended early i so sad

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