By State Sen. Greg Goggans
In order to get Georgia’s economy back on track, there is a clear and proven solution: JOBS. Thousands of people around our state are actively looking for work, and our state revenues have taken massive hits over the last year. These difficult economic times call for bold action to make sure businesses have the resources they need to create long-term jobs and get Georgians back to work again. This has been my top legislative priority and I am proud to say I’ve joined with Senate and House leaders to announce Georgia is open for business.
This week the Senate and House introduced the Jobs, Opportunity, and Business Success Act of 2010 (JOBS Act of 2010). This legislation is designed to stimulate the state’s economy by providing tax credits, cuts and incentives to create, expand and attract new businesses in Georgia. This bill has several initiatives designed to fuel job creation and empower the private sector to be the lead force in Georgia’s economic recovery. This legislation features the free-market principles which give the business owner the freedom he or she needs to seek investment, expand their workforce and build their company. The JOBS Act allows for tax credits for investors, for employers who hire people who have been out of work and keep them employed for two years, and for unemployment taxes. It eliminates an outdated law from the 1930’s that taxes wealth accumulation and offers a triggered 50 percent reduction in capital gains tax. The bill allows entrepreneurs to avoid costly start-up fees and a gradual phase out of the small business sales tax deposit, returning over $200 million in capital to business around Georgia.
By getting people back to work now rather than later, the tax credits given out in the future will be outweighed by the personal spending, investment, income and sales tax revenue, and consumer confidence that will come with long-term job creation and an expanded workforce. My goal is to help Georgia become the most job-friendly state in the nation by creating the right environment for investing in small businesses and allowing them to grow and prosper. The hard-working people of Georgia will be the driving force behind our eventual recovery and giving these businesses the freedom to operate under free-market principles will bring the quick and long-lasting economic growth that our state desperately needs.
Please remember to contact me in my office on the issues that are affecting you and your area. I am here to represent you and it is an honor for me to work on your behalf. As always, I’d like to thank members of the Senate staff, who contribute regularly to my column.
Sen. Greg Goggans represents the 7th Senate District, which includes Atkinson, Bacon, Berrien, Clinch, Coffee, Echols, Lanier, Pierce and Ware counties and a portion of Cook County.
For Immediate Release:
January 29, 2010
For Information Contact:
Matt Colvin, Broadcast Specialist