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Deeds Highlights Small Business Initiatives

Rosalind Helderman

Democratic gubernatorial candidate Creigh Deeds on Monday held a small business event in Charlottesville, where he picked up a theme from his Friday address at George Mason University: He would give every business that creates a job a tax credit.

"Create a job, get a tax credit," runs a new stump speech line he introduced Friday and repeated Monday. Expect to hear it many times again between now and November.

Under Deeds' proposal, any business that creates a new job will get a state tax credit equivalent to the increase in federal payroll taxes paid by the business on the new employee. McDonnell, meanwhile, has proposed a $1,000 per employee tax credit for any business that creates 50 new jobs anywhere in the state or 25 new jobs in economically depressed areas.

Other ideas for small businesses highlighted by Deeds include expanding state contracting with minority and women-owned small businesses, creation of a Rural Business Fund to make loans to small businesses expanding in rural or depressed areas, and incentives to help small businesses pool together to buy lower-cost health insurance for employees.

By Rosalind Helderman  |  August 24, 2009; 3:31 PM ET
Categories:  Creigh Deeds , Election 2009 , Robert F. McDonnell , Rosalind Helderman  
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Comments

A great idea initiated by Deeds and imitated by his republican opponent.

Way to go, Creigh!

Posted by: TheDonkey1 | August 24, 2009 9:47 PM | Report abuse

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