Small businesses will rebuild our economy, not the government. That's why Jim Mathias supported tax relief and innovative economic development policies, and opposed burdensome regulations on small business owners.
Jim understood that the 6% "tech tax" was a raw deal for local businesses and a job killer. The tax threatened hundreds of local companies - many of which could have moved their operations and their jobs across the state line to avoid the tax. Jim voted against creating the tech tax during the 2007 special session, and championed the successful repeal of the tax before it took effect.
Jim supported tax credits to help local businesses. He joined a bi-partisan coalition to pass the Job Creation and Recovery Tax Credit, which benefits businesses that hire unemployed Marylanders. He voted to extend the Employment Opportunity Tax Credit (a.k.a. "Work, Not Welfare" Tax Credit) which gives businesses a credit against the wages and childcare expenses for an employee hired off of public assistance. He also voted to create tax credits to help small businesses defray the cost of investments in renewable energy.
Jim helped expand the "Enterprise Zone" program by doubling the number of sites that can be designated as an Enterprise Zone in a county. Businesses that locate in an Enterprise Zone are eligible for local property tax credits and State income tax credits for ten years. There are nearly 70 businesses in Enterprise Zones on the Lower Shore that receive over $175,000 in tax credits annually.