HARTFORD—Rep. Sean Williams today co-sponsored 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. What’s more, the proposal from Watertown and Woodbury legislator Williams 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.
Several Democrats spoke in favor of the proposal offered by Williams and his colleagues, yet those super-majority legislators inexplicably voted against it.
“When we started this legislative session, every lawmaker I know said creating and maintaining jobs was their top priority,” Williams said. “But few people in the majority have done a thing about it. In fact, many have done the exact opposite—proposing bill after bill that handcuffs employers.”
Williams and Republicans attached their pro-jobs proposal to a Democrat plan to create a commission to study how the state can generate more revenue—in other words, tax residents and businesses.
The Republican proposal was rejected 105-38.
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 $4,800/per employee for every hire off of unemployment.
– Requires that Jobs Impact Statements accompany bills and amendments
– Create DECD ombudsman to help streamline the permitting process for businesses.