Hartford- Representative Mike Alberts (R- Woodstock) today supported legislation that would immediately stimulate Connecticut’s long-suffering job market by repealing the state’s Business Entity Tax and offering tax credits to companies that create full-time positions. (Click here to see Rep. Alberts speak in favor of the proposal)
What’s more, the proposal would require that Jobs Impact Statements accompany bills and amendments—a move addressing the business community’s complaint that the legislature habitually passes bills without considering how they affect employers.
“The most important thing we can do right now is work on fixing our state’s 9.2% unemployment rate and this proposal would have done that,” said Alberts, the ranking member of the legislature’s Commerce Committee. “Unfortunately, the Democrats prefer to delay this important legislation until, well, who knows when.”
Democrats voted against the proposal claiming they plan to work on a jobs package at some point in the future; however, the super-majority Democrats were short on specifics regarding what that plan might include or when it might get done.
“It’s really too bad we couldn’t get this legislation done today. There are a lot of unemployed people in Connecticut and I don’t think they really want to hear excuses and rhetoric about why we aren’t creating jobs right now,” said Alberts. “Session ends in a week- we’re running out of time.”
The Republican proposal failed 38-105.
His jobs-creation proposal included:
- Repeal of the Business Entity Tax on all businesses.
- Creates Small business revolving loan fund (direct loans only)–$25 million cap on the program.
- Job Creation Tax Credit Program—creates a tax credit for employers who employ 100 employees or less. Employers may receive a $4,800/per employee for every hire off of unemployment.
- Requires that Jobs Impact Statements accompany bills and amendments
- Create DECD ombudsman to help streamlining the permitting process for businesses.