CORE Jobs Act Advances

MacIver News Service

[Madison, Wisc…] The JFC advanced SB409, the Democrat’s CORE Jobs Act early this afternoon on a unanimous, bipartisan vote of 13-0 (with three members absent).

The CORE Jobs Act, which stands for stands for Connecting Opportunity, Research, and

Entrepreneurship, would: increase Accelerate Wisconsin, the state’s angel and venture capital investment tax credit program; invest new monies into the Wisconsin Development Fund and allow the Fund to make grants to research institutions; add funds to the advanced manufacturing grant program; and,  provide funding for a tax credit for businesses who pay university or technical college tuition for their low-income employees

During debate on the measure, Senator Luther Olsen (R-Ripon) said “I’m going to vote for this bill, it’s better than nothing.”

Though he said that after the tax and spending increases of recent budgets, this bill was “a little hesitant small step.”

Olsen did later acknowledge the proposal was progress “At least we are not going backwards,” he said.

The bill’s author, Senator Julie Lassa (D-Stevens Point) touted the bill as “A comprehensive economic development package.”

Lassa explained that while no one piece of legislation can solve all of Wisconsin’s economic woes, her plan would go a long way in helping Wisconsin businesses and workers rebound from the current recession.

The full legislature is expected to vote on the bill during the upcoming spring session.