By Matthew Holloway |
The latest job report from the National Federation of Independent Business (NFIB) shows that 34% of small business owners (seasonally adjusted) reported that despite having open positions in April, they could not find employees to fill them. Chad Heinrich, state director for NFIB in Arizona, offered some suggestions for Arizona lawmakers to address the situation and urged the passage of AZ Senate Bills 1069 and 1215.
“Arizona’s small businesses are the foundation of our economy, and our state has a chance to lead the way in empowering them,” Heinrich said in a statement. “Lawmakers have already done good work keeping taxes and regulations in check. Now, I urge them to pass Senate Bills 1069 and 1215. These two measures will lift a significant recordkeeping burden from Arizona’s smallest businesses and safeguard legal proceedings from foreign entity involvement.”
Senate Bill 1069 sponsored by AZ Senator JD Mesnard (R-LD13) would, if enacted, increase the Business Personal Property Tax exemption to $500,000 per taxpayer, relieving the tax burden on small business owners and “reduce record-keeping and compliance costs enormously,” according to the NFIB.
The bill was passed by the Senate 17-9 with four Senators not voting and passed the House Ways and Means Committee on March 5th.
The second measure, Senate Bill 1215, proposed by AZ Senate President Pro Tempore Vince Leach would require the disclosure of third-parties sponsoring predatory lawsuits against Arizona small business owners and was passed by the House Judiciary Committee on March 26th and is pending consideration by the House Rules Committee. The bill is also supported by the Arizona Chamber of Commerce & Industry, the Arizona Manufacturers Council, the Arizona Lodging & Tourism Association, and the Arizona Trucking Association.
Courtney Coolidge, executive vice president of the Arizona Chamber of Commerce & Industry said in a February statement, “Third party litigation funding has grown to an estimated $15 billion industry in the U.S. Essentially what happened is funders pour money into lawsuits in exchange for the settlement. This is a simple transparency bill to ensure transparency in our courts, protect litigants and safeguard against foreign influence. This is not just an Arizona issue; several states have passed this with bipartisan support.”
Chief Economist Bill Dunkelberg explained the NFIB report’s findings saying, “Small business owners remained open to hire and grow their workforce in April. While the percent of open positions decreased a bit, Main Street firms are still struggling to find qualified applicants for their plentiful open positions.” Per the NFIB report, the percentage of unfilled job openings spiked in 2021-22 and have returned to the lowest level observed since January 2021.
Per the NFIB report, the percentage of unfilled job openings spiked in 2021-22 and have returned to the lowest level observed since January 2021 with the largest concentration of openings in construction, transportation, and manufacturing.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
