Bond hears local business concerns

Those were the messages voiced loud and clear Tuesday at a roundtable discussion between community leaders and U.S. Sen. Kit Bond, R-Mo., in an O’Reilly Automotive boardroom. The event was one of several Bond has planned across the state this week.

The discussion’s theme centered on Congress’ tax relief plan, signed into law last week. While some have said the plan provides tax cuts for those who don’t need it, Bond said yesterday that tax cuts have earned the country $47 billion, instead of losing a projected $3 billion.

Among other pledges, the plan calls for an end to the federal death tax, or “estate tax” – a move many attendees at Tuesday’s discussion praised. Bond promised to fight for passage of a bill that would lower the tax rate to 15 percent and provide an exemption on the first $5 million in assets.

“I’m pleased that the estate tax issue is still alive – I was concerned that maybe it had died,” said Barney Whitlock of Whitlock, Selim & Keehn LLP at the discussion. “A 15 percent rate is a huge step in the right direction, compared to a 50 (percent or) 55 percent rate. That’s a huge help.”

Other attendees told Bond of their concerns about finding qualified workers. While Springfield’s 3.8 percent unemployment rate is low, Bond said, that can hurt some business owners who are trying to fill jobs, as there are fewer people seeking work.

Another employment concern is maintaining a competitive edge. Some employers said they worry about other countries such as India and China that produce students strong in math, science, technology and engineering, boosting tech companies overseas.

Bond said there is work in the legislature on an amendment to the immigration bill that would allow foreign students to stay in the United States and work tech jobs at domestic companies. He also promised a continued effort to encourage American students to explore those science-related fields, and he suggested small-business owners visit classrooms and do the same.

Gas prices were a hot topic at the event, as many said commuting employees can’t afford to drive to work and other transportation costs are skyrocketing.[[In-content Ad]]