Maryland Governor Larry Hogan announced that there will be a significant cut in unemployment insurance taxes beginning early next year.
The Trust Fund has grown by more than $125 million for a total of nearly a billion dollars.
That will allow for a 50 percent reduction in the unemployment insurance rate from $51 dollar to $25.50 per employee per year.
Maryland Labor Secretary Kelly Schulz said that this was a sign of the state’s improving business climate.
