Patrick Wants Tax Break For New Jobs, UI Rate Freeze
Gov. Deval Patrick filed legislation today that would provide a $2,500 tax credit for each new full-time job that small businesses create.
The bill also proposes freezing unemployment insurance increases and installs new reporting regulations for health insurers. Patrick said the bill is intended to help small businesses across the state.
The tax credits would be capped at $50 million statewide and will be given out on a first-come first-served basis to businesses with fewer than 50 employees that create a new full-time job and keep it for a year.
Other aspects of the bill would extend the seasonal employee exemption for unemployment insurance an extra four weeks from 16 to 20 weeks.
The health insurance reforms would require insurers to submit proposed changes that are subject to review by the state before being offered to employers. It also requires insurers to offer a plan that is at least 10 percent less expensive than other plans.
Patrick spoke at the Greater Boston Chamber of Commerce this morning and is scheduled to make an appearance at a community center in Leominster this afternoon.
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