O'Malley unveils small business agenda, talks job creation
With jobs likely to be the talk of the 2010 election year, Gov. Martin O’Malley outlined an economic agenda today aimed at helping small businesses, including a $3,000 tax credit for every unemployed worker hired. O’Malley, a Democrat, also plans to appear live on CNBC at 2 p.m. to discuss his proposals.
The governor will unfurl pieces of his legislative agenda for the General Assembly session that begins in January at various events in the coming weeks. He made the small business announcement at a summit hosted by the Greater Baltimore Committee in the city.
The tax credit would be in effect for one year and be capped at $20 million. O’Malley contends it would alleviate pressure on the state’s unemployment-benefits trust fund. Layoffs during this recession have drained more than $550 million from the fund, triggering the need for a tax increase to replenish it. The governor also plans to introduce emergency legislation to address that increase for small businesses. He didn’t reveal details of his rate-relief proposal but pledged to sign it into law before any increas takes effect. Another proposal would streamline the loan approval process for small businesses and expand access to credit.
O’Malley has been repeating a “jobs, jobs, jobs” refrain in recent weeks, vowing to make job creation a top priority of his administration. Last week the governor and Lt. Governor Anthony Brown launched the MBE University, an initiative to support minority- and women-owned businesses.
Here’s some commentary about the small business initiative from the governor’s press release:
“Small and family-owned businesses are the heart and soul of our State and the key to how we’re going to turn the corner from recession to recovery to prosperity,” O’Malley said. “Representing nearly 98 percent of the State’s employers, strengthening our small business community will help us grow and strengthen our middle class, fuel innovation, and create jobs in Maryland.”
“Most economic growth in our state will be generated from within, so this commitment to small business by Governor O’Malley is very welcomed,” said Donald C. Fry, head of the GBC. “Small business is big business in Maryland and we must continue to support our small businesses and develop innovative solutions to help them grow.”
Comments
It's good to see this blog had in depth coverage of Dixon's conviction. I wonder if Marty bribed voters like Dixon
Posted by: Jack | December 7, 2009 3:12 PM
Jack -- This blog mostly touches on state politics. If you want Dixon coverage, The Sun has covered that story quite extensively. This article from the weekend links to many other stories we've written: http://bit.ly/6aTFOE
Posted by: Laura Smitherman | December 7, 2009 3:20 PM
Less taxes on businesses woul;d mean jobs, jobs, jobs Marty!
Posted by: jay | December 7, 2009 10:16 PM
Interesting opinion of your blog Laura. Looking at the stories, the blog talks about federal (Steele, Harris for Congress), state (Marty pretending to be a top official), and local (Cummings to testify, Anne Arundel slots vote).
You might want to check your own blog before answering questions.
Posted by: Jack | December 8, 2009 8:50 AM