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Time to Modernize Unemployment Insurance Programs

Reforming UI would keep billions in taxpayer dollars out of the hands of fraudsters while ensuring struggling workers get the benefits they’ve earned.

The House Ways and Means Subcommittee on Work and Welfare held a hearing on June 4, 2024, on reforming unemployment insurance (UI) to better support workers and businesses. Arnold Ventures Vice President of Public Finance Andrew Moylan and Public Finance Manager Anna Tyger submitted a statement for the record in response to this hearing encouraging the Subcommittee to continue their work in safeguarding the nation’s UI programs against waste, fraud, and abuse before the next economic crisis. 

Success would not only keep hundreds of billions of taxpayer dollars out of the hands of fraudsters but would also ensure that struggling workers can access the UI benefits they’ve been paying for. Only one in four unemployed workers receive UI today, and those who received it see meager wage replacement rates. A UI system that directs support away from improper claimants and toward the earnestly unemployed would serve as both a crucial safety net for workers and an effective economic stabilizer. 

Read our statement for the record here.