ATLANTA (February 18, 2009) – Leaders of the Georgia General Assembly introduced today the “Jobs, Opportunity, and Business Success Act of 2009,” a tax relief package aimed at stimulating Georgia’s economy through innovation and entrepreneurship.
Senate Majority Leader Chip Rogers (R-Woodstock) lent his support to the measure. “In the difficult economic environment that we are in, it is imperative that we are focused on enacting policies that will create job growth. We need to encourage the creative spirit of our small businesses and entrepreneurs. I believe this package, a true stimulus package, will lay the groundwork for a vibrant economy for years to come.”
The purpose of this initiative is to recognize that the greatest stimulus for a robust economy comes from an economic environment that encourages opportunity, productivity, and innovation. Sen. Rogers believes that it is the hard-working people of Georgia – not big government – that is the key to our economic prosperity.
“While the politicians in Washington, D.C. attempt to bankrupt our children and grandchildren through a so-called ‘stimulus’ plan, we here in Georgia will lead the way on fiscal restraint and creating an environment where businesses want to set up shop in Georgia,” added Sen. Rogers.
This stimulus package includes the following initiatives:
- $500 credit towards the unemployment insurance tax for each eligible employee hired.
- $2,400 Income tax credit for each eligible employee hired.
- Start “a new” business holiday.
- Elimination of the State Inventory Tax on all Georgia businesses.
- Elimination of the Sales Tax Deposit
- Gradual elimination of the Corporate Income Tax
Senate Press Release