INTERIM COMMISSION TO STUDY FISCAL STABILITY
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11:31 AM -- Presentation by Tony Gagliardi on Small Business
Tony Gagliardi, Colorado State Director of the National Federation of Independent Business (NFIB), provided background information on small businesses in the state. He stated that economic indicators are at an all-time low and indicted that small business is the engine that drives the economy.
Mr. Gagliardi described the impact of inflation on small business. He also discussed issues for the commission and legislature to consider, including: that state government should spend within its means; and increasing the number of state mandates on small business has an adverse affect on business. Responding to commission member Cris White's comments on the proper incentives to help businesses out of the economic slump and the impact of raising taxes, Mr. Gagliardi discussed the need to reform the business personal property tax, the potential benefits of payroll tax holidays, and not increasing fees on businesses. He indicated that NFIB does not have a position on raising corporate income tax but encouraged a comprehensive tax study to look at such issues before making policy changes. Responding to Senator Brophy's question regarding disincentives to businesses, he stated that increasing sales taxes would have an adverse impact on businesses.