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BUSINESS LEADERS IN CONNECTICUT’S KEY GROWTH INDUSTRIES URGE REJECTION OF FINANCE COMMITTEE’S TAX PLAN
Business community to hold a series of news conferences focusing on industries hit hardest by the tax plans
The business community is holding a series of news conferences urging state legislators to reject the Finance Committee’s tax proposals that would severely cripple the state’s key growth industries. These proposals would further harm Connecticut’s economy, delay our recovery and cause additional job losses.
The Connecticut Business & Industry Association and information technology (IT) companies from across the state will hold the first news conference to urge legislators to reject the Finance Committee's plan to eliminate the sales tax exemption on computer and data services.
IT News Conference
Thursday, April 23
2:30 p.m.
Legislative Office Building, Room 1C
Hartford
Following the news conference, there will be a visit to a Connecticut IT firm in Meriden.
Speakers include:
- John R. Rathgeber, CBIA president and CEO
- Joseph Schechter, CSC Americas Outsourcing Services acting president
- Matthew Nemerson, Connecticut Technology Council president and CEO
Other business leaders representing small, midsize and large companies from across the state will also participate in the event.
Following the news conference, the media is invited to visit a Meriden IT firm and meet with some of the IT workers who could be impacted if this bill passes. Media interested in visiting the Meriden firm must contact Nancy Andrews at 860-944-7560.
According to a report from the Department of Economic and Community Development, the elimination of the sales tax exemption on computer and data processing services could:
- Increase costs on Connecticut's 1,500 IT firms
- Make Connecticut's IT firms less competitive with similar firms in other states
- Cost 2,200 jobs a year for the next 10 years
- Discourage companies from locating in Connecticut
Connecticut has already lost 58,000 jobs and can't afford to lose more.
On Monday, April 27, at 11 a.m. at the LOB, CBIA will be joined by biopharmaceutical, fuel-cell, high-tech manufacturers and other technology-driven companies for a news conference to discuss the proposal that would reduce the state’s tax credits, including the research and development tax credit, from 70% to 50%.
CBIA is the state’s largest business organization, with 10,000 members.
For more information contact Nancy Andrews, CBIA media relations manager, at 860-244-1957 or andrewsn@cbia.com.
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