waynefontanaAs the state budget process is once again upon us, it has become apparent that this budget, like the two that came before it, will task us with finding ways to do more with less.

One area that has been overlooked by the current administration is the need to invest resources in economic development and jobs programs, to do all we can to put people back to work!

We must create a positive business environment that encourages investment and helps small businesses succeed. I have authored two bills that will do both.

Senate Bill 141 establishes a tax credit to Angel Investors that would encourage early stage financing to businesses less than five years old.

These type of investors play a crucial role in our economy, making higher-risk investments in new businesses, where banks and other lenders typically shy away.

Another piece of legislation I wrote, Senate Bill 205, loosens restrictions on the Second Stage Loan Guarantee Program, providing a needed catalyst to spur private banks and other commercial lenders access to capital for small business.

These two measures would both provide a shot in the arm to small businesses across our region and a growing network of small businesses will lead to job creation, at a time when it is desperately needed.

I will continue working with my colleagues in the Senate, from both parties, to move this legislation forward so we can start putting people back to work.

You can read more about these bills at www.senatorfontana.com.

 

Senator Wayne D. Fontana

42nd Senatorial District

www.senatorfontana.com