Carter Supports Bi-Partisan Jobs Legislation

Carter Supports Bi-Partisan Jobs Legislation

The following is a press release from the office of State Rep. Dan Carter–

HARTFORD—State Rep. Dan Carter today supported bipartisan legislation aimed at reversing Connecticut’s lagging employment figures by moving toward cutting red tape for business owners while offering loans to encourage business expansion and creating job training that will grow the state’s skilled workforce.

The proposals, packaged in one bill, passed overwhelmingly in the state’s House of Representatives during a special session of the General Assembly. Carter has focused on improving Connecticut’s reputation as a state that’s unfriendly to business since taking office in January, and Wednesday’s vote gives him hope that majority legislators will be willing to continue the effort with additional reforms early next year.

“The bill adopted today shared doesn’t solve every concern expressed by the business community, but it’s certainly proof that the legislature is finally listening,” Carter said. “We’ve addressed basic but crucial issues, such giving businesses access to capital, the lack of which has been a big barrier to expansion.”

Money for the proposals approved in the House on Wednesday evening will come from existing bond authorizations rather than additional borrowing beyond budgeted limits. “Diverting money that would have been spent somewhere else to programs which will aid in job growth just makes sense,” Carter said.

Carter and his House Republican colleagues met recently with more than 50 small business owners who shared their needs and concerns. Those ideas, focused on small businesses, were incorporated into the bill passed today:

  • $60 million for training programs and tax credits;
  • $10 million revolving loan fund for business at risk of closing;
  • $500 monthly tax credit for new hires, $900 credit for all unemployed, disabled and veteran hiring;
  • Cut in half to $125 the annual Business Entity tax;
  • $40 million to establish and expand manufacturing technology training at six schools in the community college and vocational technical systems;
  • Reduce “Angel” investment threshold from $100,000 to $25,000.

“Over the last few months the governor focused his efforts on large companies, and today’s bill was timely because so many small and mid-sized business owners worried that many in the legislature had forgotten about them,” Carter said. “This is a positive step, but we’ve got a lot more to do.”

The legislation features a “Small Business Express Package,” which through the Department of Economic and Community Development offers a revolving loan fund program for at-risk businesses and a job creation matching grant program for small, stable businesses looking to expand, reinvest and increase employment.

Business owners have long blasted the state’s regulatory and permitting and Republicans responded:

  • Brownfield reclamation enhanced through $20 million used to clean up and sell properties privately;
  • State Traffic Commission proposals not acted upon with 60 days will be deemed approved;
  • An enhanced and improved informational technology portal will make it faster and easier for developers and businesses to work through the state bureaucracy;
  • Analyze and report on agency permitting processes by the start of the 2012 legislative session, with an aim toward crafting bipartisan legislation to create streamlined, systematic changes.

 

 

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Posted on October 26, 2011, in Home. Bookmark the permalink. Leave a comment.

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