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Economic Development

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Today's Poll

Should Massachusetts dip into its $9-billion Rainy Day Fund to help stabilize its unemployment system?
Poll Description

Just before President Donald Trump’s inauguration, the Gov. Maura Healey administration struck a deal to pay the federal government $2.1 billion for an error made under her predecessor, in which COVID pandemic funds were improperly used to cover some unemployment benefits. Even without this extra burden, the Massachusetts unemployment insurance fund was set to be insolvent by late 2027 due to more structural problems, as well as typically having the best unemployment benefits in the country. The unemployment insurance fund is typically paid for by taxes and fees on employers, although with the extra $2.1 billion from Healey's deal, business associations are asking the state to consider using some of its $8.83 billion Commonwealth Stabilization Fund, colloquially known as the Rainy Day Fund, to stabilize the unemployment system and minimize the extra burden on employers.

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