It's clear to most that HB 3389 is on a fast track to approval in the Oregon House and likely in the Senate also.
I confirmed with OED that tax cuts for employers by biennium would be:
1. There is one bill that I am aware of that increases benefits for workers using UI trust funds, HB 3178. It's cost is limited to ONE year, $75 million.
Comparing the $2.4 billion in TEN year employer tax cuts to the ONE year $75 million in increased benefits yields a 32 to 1 ratio of employer tax cuts to increased employee UI benefits.2. HB 3389 includes new language that permits that trust fund to include: "All other moneys or property, including securities, of any kind whatsoever received for the fund from any other source whatsoever.". Among other possibilities this provision would permit the issuance of bonds, likely in lieu of borrowing from the federal government.