ALBANY – Two bills aimed at helping small businesses have passed in the New York State Senate.
Senator George Borrello (R) says both bills, S8179 and S1197, would protect employers from being penalized with higher unemployment insurance incurred due to the pandemic and provide additional relief.
With the help co-sponsor Senator Pam Helming, the bills crack down on higher unemployment insurance premiums for small businesses for the past year.
“The current unemployment insurance system wasn’t designed to adjust for a government-mandated mass economic lockdown like the one we’ve experienced this year.” said Borrello in a statement.
Since the beginning of the pandemic, New York State’s unemployment rate has been on a rollercoaster to new heights, leaving many residents out of work. As of December 18, the state unemployment rate was at 8.4 percent.
“Today, that advocacy culminated with Senate passage of a measure that will provide that protection,” furthered Borrello. “It is an important victory and a great step forward, but just one of many that lie ahead.”
He says small businesses are the key to economic recovery and lawmakers are responsible for helping them succeed.
The bills next have to be approved in the New York State Assembly and then signed by Governor Andrew Cuomo before becoming law.