Gov. Ed Rendell said his proposal to raise the personal income tax rate by 16 percent would only cost a typical small business $10 per week, or roughly $520 per year. NFIB member Warren Hudak took issue with the governor's assessment, reporting to lawmakers the real cost of all of the tax increase proposals on a typical small business was 10 times the governor's estimate.
This week, Gov. Rendell signed into law a new "mini" COBRA law providing continuation of health insurance coverage for employees in small firms that employ 2-19 workers. The new law takes effect July 10. The new law ONLY APPLIES to firms with 2-19 employees that offer health insurance.
Officials from the state's leading business organizations, representing small and large businesses in virtually every sector of the state economy, today warned a tax increase proposed by Gov. Ed Rendell would kill nearly 24,000 Pennsylvania jobs in the short term, worsen the Commonwealth's budget and financial problems, and extend them deeper into the future.
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