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Thursday, August 13, 2020

Gov. Reynolds directs $490 million of CARES Funds into Unemployment Trust Fund

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Kim Reynolds
Kim Reynoldshttps://governor.iowa.gov/about-the-governor
As Iowa’s 43rd Governor, Kim Reynolds is determined to make sure that Iowa’s success is every Iowan’s success. Whether it’s preparing Iowans for cutting-edge careers, fighting for education, improving healthcare and mental health access, or empowering our rural communities, Kim’s priorities are making a difference in all four corners of the state. Her vision keeps Iowans at the center of all decisions, especially in the area of fiscal responsibility. Kim knows that when Iowa taxpayers are able to keep more of their money, great things happen. She also believes in redemption. Kim’s justice reform initiatives carefully balance second chances with victim rights. As Governor, Kim’s strong voice for international trade, agriculture, and advanced manufacturing is opening new markets and maintaining relationships with leaders in China, Mexico, Canada, Israel, Thailand, Vietnam, the Philippines, Germany, Brazil and Argentina, to name just a few. Although she’s traveled the world telling Iowa’s story, Kim is still a small-town girl at heart with common-sense values. These principles are reflected in the Governor’s Empower Rural Iowa initiative and Future Ready Iowa. At age 57, Kim earned a bachelor’s degree from Iowa State University. Then, nearly two years later, on Nov. 4, 2018, she was elected by Iowans to become their first woman Governor. Family means everything to Kim and her husband, Kevin. They have three daughters (Jennifer, Nicole and Jessica) who are happily married, and Kim and Kevin love spending time with their 10 very active grandchildren.

This content provided by the Office of the Governor of Iowa, Kim Reynolds as a press release.

Today, Gov. Kim Reynolds announced she has directed $490 million of the $1.25 billion in Coronavirus relief funds Iowa was provided through the CARES Act, to be deposited into Iowa’s Unemployment Insurance Trust Fund.  The deposit will ensure that eligible Iowans continue to receive unemployment insurance benefits, and will also enable Iowa employers to remain in Tax Table 7 for 2021.  

“As we move forward with recovery, I want to minimize the pandemic’s impact on employers so they can focus on growing and reinvesting in Iowa,” said Gov. Reynolds. “Iowa’s employers continue to do an outstanding job during these unprecedented times and today’s action will provide them greater certainty. This move also ensures that our trust fund remains healthy and in a position to weather any storm, including COVID-19.” 

“From the beginning of the pandemic, Iowa has not been charging employers with claims made by laid off employees to ensure employers would not see their tax rates go up because of these claims,” Iowa Workforce Development Director Beth Townsend added “Keeping employers in Tax Table 7, saves them over $400 million in unemployment taxes.”  

For more information about the Iowa Unemployment Insurance Trust Fund, please review https://www.iowaworkforcedevelopment.gov/2019-status-report-iowa-unemployment-compensation-trust-fund   

This content provided by the Office of the Governor of Iowa, Kim Reynolds as a press release.

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