Governor Bullock Directs $200M in Coronavirus Relief Funds to Boost UI Trust Fund, Lower Fees for Montana Businesses

Governor Steve Bullock today announced he is directing $200 million in state Coronavirus Relief Funds to effectively double the Unemployment Insurance Trust Fund and prevent the thousands of Montana businesses who pay into unemployment insurance from experiencing an 85 percent spike in their tax rate.

“Montana businesses have already been hit hard once due to COVID-19 and its economic impacts. The last thing we want is to see them hit hard twice by significantly increasing unemployment insurance rates,” Governor Bullock said. “Boosting the trust fund will have a real impact on the ground for tens of thousands of Montana businesses next year and for years to come and will play a key role in the state’s economic recovery.”

“Business owners in Montana are doing all they can to navigate the economic challenges presented by COVID-19,” Todd O’Hair, president and CEO of the Montana Chamber of Commerce, said. “Every bit of assistance helps, and this smart use of Coronavirus Relief Funds will bring some needed predictability to unemployment insurance rates as we emerge from the pandemic.”