Posted on December 3, 2020 by admin
This morning, House Republican Leader-Elect Vincent Candelora and House Republican members gathered outside the State Capitol for a press conference to propose how we can help Connecticut’s business community during the pandemic.
Between the pandemic itself and the many executive orders that have followed, small businesses across the state are struggling to stay afloat as foot traffic decreases and restrictions limit their operations.
Over the past several months, we have spoken with many of you and we hear your concerns. As a result, House Republicans are proposing the following measures to help Connecticut employers during these challenging times:
Our unemployment insurance trust fund has run out of money and the state is anticipated to borrow about $800 million by the end of the year from the federal government to replenish these funds and keep paying unemployment benefits. Interest on these loans begins to accrue January 1, 2021. If the legislature takes no action, the state will have no choice but to raise unemployment taxes on employers in order to pay off the federal loans and interest.
The House Republican Caucus is calling for:
House Republicans call for the second half of business personal property taxes that are due January 1, 2021 to be delayed by 90 days and be due April 1, 2021 instead. The Governor earlier this year issued Executive Order 7S that provided an additional 90 days to pay property taxes that were due July 1 of 2020. This is a similar request for the January portion of property taxes and would apply to businesses only.
House Republicans call for a temporary suspension of the 0.5% payroll tax going into effect on January 1, 2021 to pay for a state operated paid family medical leave plan. The caucus believes that the fund’s solvency needs to be examined by an independent auditor and collecting a new tax on employees during the midst of a pandemic is the wrong approach. When CT’s personal income growth has grown by less than 1% over the last 12 years prior to the pandemic, and the unemployment rate is more than double than this time last year, now is not the time to add another tax onto the backs of our workers to fund a new state program that won’t be paying benefits until over a year from now. This new tax will only make CT’s economic recovery that much more difficult.
We hope our Democratic colleagues and Governor Lamont share our concern and will agree to these proposals. Our businesses have suffered enough this year and it’s time their state government take quick and decisive action to help them.
You may view Today’s press release for more information about these proposals.
If you have any questions about this or any state government matter, please do not hesitate to contact me.