GOVERNOR’S REMARKS DISCOURAGING FOR SMALL BUSINESS AS ALL EYES TURN TOWARDS STATE OF THE STATE
PROVIDENCE (January 17, 2017):
The National Federation of Independent Business (NFIB), Rhode Island’s largest
small business advocacy group, will be paying close attention to this evening’s
State of the State address after Governor Raimondo spent the weekend touting
ideas that according to NFIB are in direct contradiction to a fiscally stronger
state economy.
“Rhode Island must continue
to focus on job creation by reducing the cost of doing business and improving
the state’s business climate,” according to Bill Vernon, Rhode Island
State Director for NFIB. “Considering that we have yet to return to
pre-recession employment levels, it’s concerning that the Governor spent
yesterday discussing yet another hike in the minimum wage. Making it more
expensive to employ people is certainly not going to help the jobs market improve.”
The New England Economic Partnership released a study this
morning that found that Rhode Island has only recovered 93 percent of the
39,800 jobs lost during the Great Recession, which economists believe ended in
2010. Yesterday Governor Raimondo reiterated her support to raise the state’s
minimum wage, something she fought for unsuccessfully last year.
“Governor Raimondo’s
proposals to load wages with paid sick leave, higher minimum wages, and higher
health care costs would discourage job creation when Rhode Islanders
desperately need the state to grow economically,” continued Vernon. “Tonight,
small business is hoping to hear a plan that will make further progress on
lowering the estate tax, unemployment insurance taxes, and the minimum business
tax. Talk of reforming the legal system to discourage excessive litigation as
well as eliminating unnecessary state regulations would certainly go a long way
to improving the faith of the small business community.”
