Tuesday, July 1, 2014

Senator Tarr’s Statement on the Passage of an Economic Development Bill by the Senate

Senate Minority Leader Bruce Tarr (R-Gloucester) released the following statement tonight after the Senate passed Senate Bill 2231, “An Act promoting economic growth across the Commonwealth”:

“It is important that we do not forget the taxpayer as we develop strategies to stimulate economic development in the Commonwealth.  Just as important as providing funding for grants and programs is ensuring that working families and small businesses get the opportunity to retain and invest more of their earnings in creating jobs and bolstering the economy.  Despite the fact that several key opportunities to confront the costs of doing business in Massachusetts were lost during today’s debate, the bill that was passed does contain some important measures to use tax relief as a powerful tool to produce gains for our economy, including those which:

•  provide a two day sales tax holiday in August;

•  strengthen and modernizing the state’s Research and Development Tax Credit; and

•  improve the usefulness of the Historic Rehabilitation Tax Credit for projects in transition.

While these are positive steps, the conclusion of today’s debate leaves us with much more work to do to reduce or eliminate the costs of, and impediments to, job creation and economic growth if we are to secure robust and lasting economic recovery as we emerge from one of the longest and most difficult recessions our state and nation have ever faced.”