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Business

Owens’ first bill is a job-creation tax credit

By NATHAN BROWN, Enterprise Staff Writer
POSTED: February 3, 2010

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Jobs, specifically the lack of them, were a major theme of Bill Owens' congressional campaign, and in that vein, the first bill he has introduced into Congress is a rural job-creation tax credit.

"The whole idea is to get companies expanding their payrolls," Owens, D-Plattsburgh, said in a Wednesday interview with the Enterprise on his Rural Jobs Tax Credit Act. "As they do, they're going to put more money in the hands of employees."

Owens' bill would apply to employers of any size, headquarted anywhere, creating jobs in rural areas. Rural areas are defined as communities with fewer than 50,000 people - which includes every community in Owens's congressional district, New York's 23rd.

Owens introduced the two-year measure, which has three original co-sponsors, Tuesday evening; it is now in the House Ways and Means Committee.

It would give back, as an income tax credit to employers, 15 percent of payroll cost expansion above the prior year's inflation rate in 2010 and 10 percent in 2011.

U.S. Sen. Kirsten Gillibrand, D-N.Y., introduced a bill creating a job-creation tax credit Tuesday to give a credit of 20 percent to small employers and 15 percent to large employers that expand their payrolls. Gillibrand's bill is for all areas, not just rural ones. Owens said he expects legislators would try to reconcile the two bills "so people are receiving one credit for job growth."

The three original co-sponsors are U.S. Reps. Walt Minnick, D-Idaho, Mike Arcuri, D-Utica, and Harry Teague, D-N.M.

"We've talked to a number of folks that are expressing interest, and we're circulating the bill to secure cosponsors," Owens said.

Owens said he hasn't yet encountered any opposition to the bill.

"I think everyone in Congress is concerned with jobs," Owens said.

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Contact Nathan Brown at 891-2600 ext. 26 or nbrown@adirondackdailyenterprise.com.

 
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Member Comments
View Comments: | 1-4 | Post a comment
MommiePatriot
02-04-10 8:34 AM
Too little, to late! Do they think we are dumb or are they dumb? This is a carrot on a string bill.

Trying2Survive
02-04-10 8:15 AM
What a joke ! It cost a small business owner more to do the paper work on these tax credits than you ever get back.

Outlaw63446
02-04-10 7:58 AM
Once again we are expected to fall to our knees and kiss the hands that are giving us back a pittance of our own money. Let us keep our money in the first place, and we'll invest it where we want to. Of course, that takes away their control of us. If they keep us broke, and begging for scraps, they perpetuate their reign.

dalemi21
02-03-10 7:44 PM
How do you create jobs when there is NO WORK! Are companies going to hire people to just sit around and do nothing all day?!

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Local News  Local Sports  Winter Olympics: 2010 and beyond  Community Resource Guide 2010  Embark: Get Up, Get Out  Adirondack Living Real Estate  North Country Dining Guide  An APA reform plan  Local Classifieds  Jobs  CU Photo Galleries