Lawmakers approve small-business tax break for new jobs
After hearty debate on an earlier bill, state House members Tuesday launched into discussion concerning HB36, a bill brought forth by Rep. Kyle South (R-Fayette) to provide small business with fewer than 75 employees with a $1,500 tax break for every employee they hire who makes $40,000 a year or more. The bill would fund the tax credit, estimated at over $400,000, by taking money from the Education Trust Fund. Rep. Patricia Todd (D-Jefferson) was the first to speak on the matter. “You know how I feel about tax credits,” Todd said. “I don’t like them.” Todd noted that she will oppose the bill because it gives more tax breaks to businesses while ignoring some of the states more pressing issues, like balancing the budget and decreasing poverty in the state. Rep. Craig Ford (R-Baldwin) noted that he appreciated the bill, but could not support a bill which cuts taxes this year after raising taxes last year. After a brief round of amendments and technical questioning, the bill passed by a margin of 88 to 12 and the House adjourned for the day.
