Here’s a look at some of our victories in the 2011 Legislative session:
- Tax relief: Two years ago, the General Assembly passed a sales tax increase and placed surcharges on other taxes with the understanding the increases would expire, or sunset, on June 30, 2011, but when lawmakers returned in Raleigh in January 2011, they faced a $2.7 billion state budget shortfall. NFIB joined other business groups in encouraging lawmakers to keep their promise and let the higher taxes expire as planned.
- Regulatory reform: NFIB worked with other business groups to pass legislation easing the regulatory burden on small businesses and making it easier for them to create jobs. Lawmakers also passed a bill creating a joint regulatory reform committee to review existing regulations and seek public input on how proposed new regulations would be affect business.
- Tort reform: Despite strong objections from the trial lawyers, NFIB helped tort reform legislation that levels the playing field for small businesses in the state’s court system. One of the reforms passed by the General Assembly says property owners can’t be held liable for injuries suffered by people trespassing on their land. Another provision says evidence offered to prove any past medical expenses shall be limited to evidence of the amounts actually paid to satisfy the bills.
- Medical malpractice: Lawmakers passed a law limiting the amount that juries can award for most injuries and capping noneconomic damages at $500,000 in medical malpractice cases, helping bring down the cost of health care statewide.
- Workers’ comp reform: NFIB successfully fought for legislation capping workers’ comp benefits at 500 weeks, or almost 10 years, instead of letting injured workers collect benefits indefinitely. The change will help reduce workers’ comp insurance rates for small businesses.
- Tax incentives: Lawmakers passed a state budget that includes a $50,000 small business tax deduction for business with annual income that doesn’t exceed $865,000. Coupled with the other tax reductions, this will allow small businesses to hire new workers, expand hours of existing workers and reinvest any profits back into their business.