Piscopo, Rigby Support Pro-Jobs Legislation

HARTFORD—Reps. John Piscopo and John Rigby today voted in favor of 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 pushed by the two Litchfield County legislators called for Jobs Impact Statements to 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 touted by Rigby, Piscopo and their colleagues, yet those super-majority legislators inexplicably voted against it.

“If you talked to any legislator three months ago, ‘jobs’ was among the first words from their mouths,” Rigby said. “But today, with only a few days left until the session’s end, we’ve little, if anything to show for it. This plan is immediate—it’s something that would give unemployed people a bit of hope.”

Piscopo, a Finance Committee member like Rigby, agreed and said Connecticut sits at a crucial point.

“Unfortunately, the word is out about our state legislature and its history for giving employers the cold shoulder,” Piscopo said. “We’ve got too many mandates, too many taxes. This plan would break the ice—it would signal that we’re ready to give businesses the freedom and support they need to thrive here.”

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.

The 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 credit 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.