HARTFORD – State Representative Tim LeGeyt (R-Avon, Canton) has
worked with the rest of the House Republicans to force the legislature’s Labor
and Public Employees Committee to hold 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.
LeGeyt 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.
“There are many businesses in Avon and Canton that will be forced to pay this surcharge in August, hindering their ability to hire new workers and possibly expand. This legislation is a positive step toward making Connecticut more business-friendly, and helping to creating jobs in our communities. I encourage anyone interested in this issue to speak at the public hearing, or to submit written testimony,” said Rep. LeGeyt.
Business owners and anyone else concerned about creating jobs in Connecticut are encouraged to attend the public hearing or submit testimony to me at firstname.lastname@example.org.
LeGeyt represents Avon and Canton in the General Assembly.