AndrewTX
AndrewCT
Junior Chimp
Posts: 7,091
|
 |
« on: August 23, 2010, 04:13:11 PM » |
|
As we all know, the unemployment rate is ridiculous right now, and I want my final action as a Northeast Representative is to be able to propose something that we can all work on, and help bring our region some much needed help. Job creation isn't made by large financial assistance to large company's. All that does is hire someone to fill a position that someone was previously laid off with. I believe that in order to get the ball rolling, we need to get small business to create and hire people for brand new positions. New jobs means new money, new money gets spent, companies prosper, and stocks begin to rebound. So lets see what we can do. Its not the best.. but its something that we can all start looking at, and working on together.
The Northeast Small Business Incentive
Section I
1) Small businesses may apply to this incentive, and be able to pay new employees a minimum of $7.00 an hour depending on the companies annual revenue.
2) If a small business has a final take home of under $500,000 and already has 2 full time employees, they are available for a tax rebate of 4% per year for the next 2 years.
3) The employee must work a minimum of 35 hours a week, but no more than 43 hours per week.
Section II
1) If the employer lays off any employee taken in under this incentive, they are still available for the rebate if the reason for the employee being laid off is documented behavior issues, or financial strain.
2) Financial strain must be proven by accurate financial documents showing significant loss of income, and will need to be signed off by a state financial expert before being finally approved.
3) Abuse of this system will result in expulsion of being able to use this incentive, and possibly any other tax incentive offered by the regional, or federal government in the future.
|
