Economy business

Small business organizations are speaking out against a potential minimum wage hike, saying the plan will only cause more small businesses to shutter amid a fragile economy. The National Federation of Independent Business said that “Congress should not saddle [small businesses] with a costly new mandate that will further damage the fragile economic recovery,” in a statement . “More than doubling the federal minimum wage while small businesses across America are barely surviving shutdowns due to an unprecedented pandemic is a recipe for more shuttered businesses and millions more job losses,” the American Farm Bureau Federation said in a statement. “On behalf of Main Street employers across America, we strongly oppose the Raise the Wage Act of 2021.” The U.S. Chamber of Commerce opposed the minimum wage hike, noting it does “not reflect a data-driven approach that incorporates wage-rate differences between business sectors and business locations,” in a statement. The … [Read more...] about ‘Recipe For More Shuttered Businesses’: Small Businesses Speak Out Against Minimum Wage Hike

The Colorado Economic Development Commission approved a new scoring matrix for its popular Job Growth Incentive Tax Credit program, one designed to more precisely target state incentive awards. “It aligns incentives with the benefits to Colorado,” Jeff Kraft, director of business funding and incentives at Colorado Office of Economic Development and International Trade, said Thursday at the commission’s monthly meeting. Under the JGITC program, employers make a request listing the number of new jobs they plan to provide in Colorado versus another state. If they create those jobs, they can claim a rebate on a portion of the payroll taxes paid during an eight-year window. The program has brought thousands of high-paying jobs to the state since the last recession and kept Colorado competitive with more deeply endowed states in its recruiting efforts. For some, the state’s efforts are looking a little too successful, creating congested classrooms, crowded roads and housing … [Read more...] about Colorado wants more precision in economic development incentives

close Video Pandemic stimulus gives big bailout to blue states Republicans feel red states are being penalized for remaining open for business during COVID-19; GOP Rep. Greg Steube weighs in. Democrats in Washington are charging full speed ahead on a hastily crafted, nearly $2 trillion spending package. The goal is to satisfy a political agenda and bail out political allies. The guise is COVID-19 relief. Regardless, their plan means tremendous harm to America’s working-class. It is the wrong plan, at the wrong time, for all the wrong reasons. Video On Monday, the Democrat majority on the House Budget Committee continued what has been a completely partisan process by holding debate and a vote on a legislative package that represented the work of nine separate committees two weeks earlier. During the nine committee markups that preceded Monday’s House Budget Committee activities, Republicans offered 229 amendments. Only two, or less … [Read more...] about Reps. Smith & Comer: Dems’ $1.9T COVID relief bill – wrong plan, wrong time, wrong reasons. Here’s why