H. 4710 would link benefits to the state’s unemployment rate
NFIB State Director Ben Homeyer said its small business members are urging House members to vote “yes” on H. 4710, a measure that would lead to lower unemployment insurance rates linking jobless benefits to South Carolina’s unemployment rate. The bill could come up for a vote in the full House as early as this week.
Under the bill, which passed the House Ways and Means Committee last month by a vote of 18-4, someone could collect benefits for 12 weeks when the unemployment rate is under 5.5%. The number of weeks would increase as the unemployment rate increases. The maximum would be 20 weeks when the jobless rate is above 9%.
“This is commonsense legislation,” Homeyer said.
“South Carolina’s unemployment rate is only 3%,” he said. “We don’t have figures for South Carolina, but according to the latest NFIB Jobs Report, 40% of small business owners nationwide have positions they’re unable to fill. It just makes sense to limit unemployment benefits at a time when so many businesses are struggling to find workers.
“H. 4710 would result in lower unemployment insurance rates for Main Street businesses,” Homeyer said. “That would leave owners with additional funds they could use to grow their businesses or hire additional workers.
“That’s why our members are urging their legislators to vote ‘yes’ on H. 4710.”