House Republicans Pushing Tax Credits

ATLANTA (AP) - House Republicans are backing an economic package
aimed at encouraging Georgia businesses to begin hiring again.

The measures would create a $500 credit toward the unemployment
insurance tax and a $2,400 income tax credit to a company for each
new employee it hires.

It also would create a one-year "new business tax holiday" that eliminates the $100 state filing fee. It would begin phasing out the corporate income tax in 2012, reducing it by half a percentage point over 12 years.

A second prong would ask voters to eliminate the state inventory tax on businesses, which costs $2.5 million each year.

State Rep. Tom Graves, R-Ranger, said it would help boost confidence in Georgia business so "spending, investing and job creation" will grow.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

You must be logged in to post comments.

Password (case sensitive):
Remember Me:
WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 39821442 -
Gray Television, Inc.