Piscopo Announces Public Hearing on Business-Friendly Legislation

HARTFORD – State Representative John Piscopo (R-76) along with the rest of the House Republicans forced the legislature’s Labor and Public Employees Committee into having a public hearing on a bill that would provide $60 million in business tax relief.
The proposed bill, HB5314 An Act Concerning Interest Payments on Advances from the Federal Unemployment Account, will provide $60 million in tax relief immediately for all businesses. The proposal would be paid for by using a portion of the available unexpected revenues the state has accrued and would have no effect on future budgets.
The public hearing will be held with the Labor Committee on March 11th at 2:00pm in room 2C of the Legislative Office Building.
Anyone wishing to submit testimony may do so no later than 5:00 P.M. on Monday, March 10th. Sign-up for the public hearing will begin at 12:00 P.M. in Room 3800 of the LOB.
Piscopo was one of the 51 petition signatures to raise a bill that would eliminate the surcharge all businesses pay on money borrowed for the state’s unemployment insurance fund. The Democrat majority-controlled Labor Committee had refused to raise HB 5314 for a public hearing.
The surcharge, or special assessment businesses are charged, is used to pay the interest on the money Connecticut had to borrow from the federal government when the state’s unemployment fund went broke in 2009. The Republican legislation eliminates that surcharge completely by pre-paying the interest.
“With this much needed tax relief proposal, we have an opportunity to help small businesses create jobs in our communities. This proposal provides immediate relief to all businesses in Burlington, Harwinton, Litchfield, Thomaston, and across the state that will give them the ability to hire new workers and possibly expand. The legislature has a real opportunity to act on behalf small businesses and prove they support our area businesses,” said Rep. Piscopo.
Business owners and anyone else concerned about creating jobs in Connecticut are encouraged to attend the public hearing or submit testimony.
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