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Final Committee Cutoff Update |
Monday marked yet another cutoff in the for this year's Legislative session, now both houses have until Friday the 17th to vote on legislation on the floor.
Income Tax Bill Introduced
Dick Davis at WashACE gives a good rundown on the current situation in a recent post.
As of yet, there has been no committee action taken on the bill and since it has a fiscal impact, it is immune to cutoff dates. We've got our eyes on this bill and will let you know immediately if any action is taken.
In the meantime, don't hesitate to get in touch with your representatives in the Senate via phone, email and FAX. Faxes have become more and more rare these days and because of that, they generally make it to the desks of our elected officials in an uninhibited fashion. Here's a link to the Senate roster, if you click on an individual member you will find all of their contact information including fax numbers.
Action on Unemployment Insurance Bill Needed Now!
The East King County Chamber Coalition has been working closely with many business friendly organizations on the Unemployment Insurance Reform Bill. The Association of Washington Business released this Action Alert concerning this very important bill:
Washington state lawmakers are nearing a crucial vote on a bill revising unemployment insurance in our state. We need your help to stop it in its current form and urge lawmakers to revert back to the Senate version!
Substitute Senate Bill 5963 was brought forward by a united business community to address state conflicts with federal policies. The measure brings our UI system into compliance with federal law, protecting employer's federal UI tax deductions.
To meet federal requirements without negatively impacting UI tax rates, the bill provides modest tax relief to employers and establishes concrete reasons for when an individual who voluntarily quits their job may qualify for UI benefits.
This bill cleared the Senate but was amended in the House Commerce and Labor Committee. These changes add costly benefit increases that will outstrip the decreases, causing higher UI taxes. The amendments include increasing the benefit "multiplier" and providing discretion on voluntary quits.
What does this mean for businesses?
Unfortunately, Main Street businesses will be hardest hit by last-minute changes to this legislation.
Employers paying average annual salaries between $19,000-56,000 will suffer the most under this amendment.
Small employers are the backbone of our economy and are crucial to pulling us out of this economic slump.
Ninety-eight percent of all employers in the state have fewer than 500 employees. These employers are representative of all communities and all industries.
Fifty-six percent of all private sector employment in the state involves a small employer.
The modest tax decreases in the underlying bill can make a world of difference to a struggling employer.!
The addition of the modifier negates those decreases and will actually drive higher taxes for small employers.
Please Act Now!
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