This week, with the belief that state government should do all it can to minimize Alaskans’ tax burden; Governor Sean Parnell signed his legislation to allow Alaskans to keep more of their paychecks into law.
House Bill 76 gives the Department of Labor commissioner the discretion to stop automatic payroll tax increases when the Unemployment Insurance Fund is deemed solvent.
Parnell said that Alaskans work hard for their money, and his administration is ensuring Alaskans are able to keep more of their paychecks.
With this bill becoming a law, Alaska’s small businesses and workers will not be paying more each year in payroll taxes when the UI Fund is solvent, and that’s good for our economy. Parnell appreciates state lawmakers for standing with him as they work to lower Alaskans’ taxes and create opportunity across the state.
As of June 15, the Alaska Unemployment Insurance Trust Fund had a balance of $294 million.