PROTECTING BUSINESS
Regulatory Reform
Government regulation is a significant cost-driver for businesses. The time required for compliance results in additional labor costs, which are passed on to consumers. While regulation is necessary, state government must be careful to find an appropriate balance that allows businesses to prosper.
State agencies currently have broad authority to create law through the rule making process. Constant rule making from these agencies create a sense of uncertainty for businesses because the rules are constantly changing. The frequency of rule changes is one concern, but also the lack of legislative oversight that exists with the current system is another. The Legislature, consisting of elected representatives of the people, should have the final say on agency rule making to make sure rules comply with the intent of the Legislature.
Taxation
I was a strong opponent of the income tax passed by the Legislature this year. Case law is clear that income is property, subject to taxation limits in the Constitution. Despite this, the tax was passed. The effects can already be seen in the form of capital flight to other states. This tax not only applies to individuals, but to business.
The last legislative session also saw a variety of other taxes increase, from B&O to sales and use tax. The last thing we should be doing in times of ever-increasing costs is creating new tax on our job creators.