2021

LEGISLATE VIRTUAL CONGRESS

IN GENERAL ASSEMBLY

June 11, 2021

AN ACT

Lifting the American Economy Bill

A bill to eliminate all small business taxes and raise the minimum wage extremely.

Introduced By:

Date Introduced:

Referred to:

Student Senator Shani

June 11, 2021, 3:17:48 PM

Finance

Whereas the average living wage in America for those without children is $16.54

Whereas the current federal minimum wage is $7.25

Whereas small businesses pay an average tax rate of 19.8%

Whereas around 20% of minimum wage workers in 2016 were in poverty

BE IT ENACTED BY LEGISLATE SENATORS VIRTUALLY ASSEMBLED THAT

Glossary of Terms:

  1. Living wage is the wage needed to maintain a normal standard of living.

  2. Small business taxes refers to all state taxes that apply specifically to small businesses.

  3. A small business is a business with fewer than 1000 employees

Connecticut small businesses will be waived of all state taxes if

  1. all employees are paid upwards of $24 an hour, and

  2. all employees are provided with basic health and life insurance coverage.

Punishments:

The only punishment for not following this bill will be that small businesses will have to pay normal taxes. Taking advantage of the bill’s benefits is optional.

Enforcement:

The only punishment for not following this bill will be that small businesses will have to pay normal taxes. It is unlikely that the bill will be broken since this bill will save small businesses money both in the short and long terms. Businesses would be electing to take advantage of this opportunity.

Enactment:

Lifting the American Economy Bill

will go into effect on

April 1, 2021, 4:00:00 AM

This bill will go into effect in the beginning of immediately. Through press conferences, media, and business registration, the state should make an effort to notify all small business owners as well as the general public.