Friday, March 19, 2010

Legislature considering bill that would hurt business

Tony Sheridan, our chamber president, testified March 15th before the legislature’s energy and technology committee on a bill that we feel strongly would hurt a critical part of our state’s economy. He told the legislators that the proposed law, an act concerning “electric rate relief,” would boomerang and end up hurting our already battered state economy.

Increasing taxes in a recession is not the best course of action to take if we want the economy to rebound, with all the job creation that we sorely need in our state.

This bill will also add another bureaucratic layer to doing business in the state, and do it at a time when many of us feel the state needs to be going in the opposite direction.

This bill will also discourage the necessary investment to improve productivity; it mocks the concept of free enterprise and discourages future investments by existing industry for fear of losing all or a portion of the profits to the state.

Last but not least, it runs the risk of discouraging new companies that may wish to come to the state and have a negative impact on the job creation those companies would bring.

What do you think about the proposed legislation? We’d like to know.


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