Governor Calvo Asks For Fiscal Impact Study of Bill That Increases Tax Exemptions To Offset Minimum Wage Hike

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The measure introduced by senators Mike San Nicolas and Jim Espaldon would give $50 thousand dollar exemptions for every dollar that the minimum wage is raised.

Guam – Governor Eddie Calvo is reviewing bill 332 which would give tax exemptions to businesses if the minimum wage is raised.

 

 The measure introduced by senators Mike San Nicolas and Jim Espaldon would give $50 thousand dollar exemptions for every dollar that the minimum wage is raised. In a release Governor Eddie Calvo is quoted as saying “We at Adelup share the same concerns expressed by Senators San Nicolas and Espaldon for our small businesses and our local entrepreneurs who deserve our support.”

 However the Governor also stated that the fiscal impact needs to be carefully reviewed and he is quoted as saying, “The administration has not received any tax impact analysis accompanying the bill. This impact analysis is imperative.” The Governor says we have to tread carefully because “We’ve been making improvements at the hospital but we’re still a long way from being done and anything that might effect the funding for the hospital should be considered very carefully.”