Still time to help state’s economy
But clock’s ticking at the Capitol ...

(April 21, 2006) With just over a week left to the 2006 General Assembly, lawmakers have the opportunity to enact legislation that will help the state’s economy grow and enable employers in Connecticut to create more jobs. But they’ll have to hurry — the legislature must wrap up its work by midnight on Wednesday, May 3.

In the meantime, some of the most promising proposals to help make Connecticut an extremely attractive location for business investment and job creation include:

• Major transportation package — HB-5715 would usher in a 21st-century transportation system and infrastructure for Connecticut;
• Manufacturers’ tax reform — SB-702 includes a provision to eliminate the property tax on manufacturing machinery and equipment (the provision previously was contained in SB-1); and
• Corporate tax surcharge repeal — Repeal of the 20% surcharge in 2006 and 15% surcharge in 2007 is still possible.
  

But legislators are also debating a few proposals that could turn the economy in the wrong direction. These include SB-669, which weakens the advantage of conducting research and development in the state, and SB-25, which topples a major pillar of the state’s workers’ compensation system.

CBIA urges lawmakers to focus on efforts that can help the economy and encourage much-needed job creation here.