Jobs tax break barely survives Colo Senate vote
DENVER – A tax break for businesses that rehire laid off workers has barely survived a vote in the Senate.
The Senate voted 18-16 to back the bill Monday after Democratic Sen. Gail Schwartz changed her no vote to a yes.
Three other Democrats voted with Republicans in opposing the Democratic-sponsored bill, including Sen. Moe Keller. She said the state couldn’t afford to lose the $3 million in taxes. She also doubted it would influence a company’s decision to re-hire laid off workers.
Under the bill, the state would agree to pay up to two-thirds of the federal payroll tax for each worker.
Companies could only claim the credit for rehiring workers they laid off in 2009. They would also have to keep them on the job for at least a year to claim the credit in 2012.
The measure is Senate Bil 133.