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Committee hears proposals to raise Maryland's maximum unemployment benefit and update taxable wage base
Summary
Delegate Lorig Charkoudian and supporters told the Economic Matters Committee that House Bill 554 would raise the maximum weekly unemployment benefit from $430 to 50% of the average weekly wage and update the taxable wage base (currently $8,500) to shore up the UI trust fund. Supporters said boosted benefits help households and local economies;
Delegate Lorig Charkoudian presented House Bill 554 on Feb. 26, proposing a series of changes to Maryland's unemployment insurance system intended to increase weekly benefits and shore up the state UI trust fund.
The bill would raise the maximum weekly benefit from the current cap of $430 to 50% of the state's average weekly wage (about $746 based on testimony), and would update the taxable wage base (the portion of wages subject to UI tax) that has remained at $8,500 since 1992. Charkoudian said the changes are designed to keep…
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