I believe that the state can best aid its citizens by creating a tax and regulatory climate in which businesses would have incentives to invest in growth and there by create more jobs.
I co-sponsored and supported as Co-Chairman of the House Republican Policy Committee two economic development bills offered by Representative Tom Graves that provided the following job creating benefits to Georgia's businesses:
* Business Start-up Fee holiday
* Quarterly credit towards the unemployment insurance tax for each eligible employee hired
* Cuts the long-term capital gains tax in half for individuals and businesses by 2011
* $2,400 Income tax credit for each eligible employee hired
* Phase out of the Sales Tax Deposit
* Abolishment of the Net Worth Tax
* Elimination of the State Inventory Tax on all Georgia businesses.
The bills passed both the House and the Senate in the 2009 session. However HB 481 was vetoed by Governor Perdue due to the stress the capital gains tax revenue reduction would put on a budget that already had been cut back to 2005 levels based upon the recessionary impact on state revenues. It is our intention to readdress the issue in 2010.