Sen. Peacock: What’s the Plan to Save the State’s Unemployment Fund? [VIDEO]
State Senator Barrow Peacock talks abut the upcoming special legislative session and what subjects the Senate and House of Representatives will tackle in Baton Rouge starting Monday.
The Shreveport Senator says that there is across-the-aisle support for the session. "From up here Senator (Greg) Tarver signed, Senator (Barry) Milligan signed, Senator (Robert) Mills and I signed. There's definitely bi-partisan support for this call. You have 70 in the House of Representatives and 29 in the Senate that signed. That is a strong bloc in the legislature asking for this session."
Peacock says that one of the main reasons for the special session is to find a solution to the state's depleted unemployment fund. "We had one of the healthiest unemployment trust funds in the country - $1.1 billion - before the Coronavirus hit us in March."
Louisiana law mandates that if the state's unemployment fund dips below $100 million, a payroll tax increase on employers of up to 30% goes into effect in six months. "That's at the top of the list, "says Peacock. "Can we use any of the surplus for that? What are some of our other options? That's why we're going to be in session."
Peacock also says that any legislative petition to override the Governor's Coronavirus mandates have come from the House. "Those petitions have been circulated from the House of Representatives. They have not been presented by any Senator. I've heard about them in conversations, but have never been asked to sign one."