Iowa Workforce Development, as part of its required annual review of unemployment insurance wages, announced the maximum weekly benefit for unemployed Iowans will increase on July 6. Per Iowa law, IWD uses a formula each year to determine the maximum and minimum benefit amounts, taking into account the number of Iowans covered by unemployment and their gross wages. This year’s review has determined that the maximum weekly benefit for unemployed Iowans will increase from $739 to $763. On June 5, Gov. Kim Reynolds signed Senate File 607 into law, which simplifies tax tables for employers and lowers the maximum unemployment insurance tax rate from 9% to 5.4%. It also reduces the amount of wages subject to this tax, now only one-third of the average annual wage, down from two-thirds. These changes mean most Iowa employers will pay less in unemployment insurance taxes.