Long-term issues must be addressed
A bipartisan committee of state legislators is to begin meetings this week to tackle a critically important task — ensuring the state unemployment compensation system remains solvent.
For some time during the “Great Recession,” many state programs to help laid-off workers experienced severe fiscal strains. Federal funding had to be sought to keep some programs afloat.
Now that unemployment is not as serious as it was a few years ago, the money crunch is not a worry.
For now, that is. Though there have been no reports of impending shortfalls in Ohio’s program, the long-term reliability of the system should remain on lawmakers’ radar.
It has been suggested legislation may be needed to ensure the program’s long-term solvency. Deciding whether that is so and what, if any steps need to be taken is up to the new panel of state senators and representatives.
They plan to consult with labor groups, businesses and those in the state’s work force.
Once they have a good idea of the system’s prospects, they should take whatever action is needed to keep it solvent.
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