OMEGA 2008 Position Statements

Sunday, 03/23/2008

Bottle Bill – We oppose this legislation. Forced deposits do little to help the environment and essentially impose a hidden, regressive tax on consumers. Forced deposits are costly to operate and administer and introduce a significant health and safety risk. OMEGA believes that comprehensive recycling programs are better investments and comprehensive litter control outperforms forced deposits. Civil Justice Reform – West Virginia’s business community should continue to seek passage of additional civil justice reforms including comparative fault, collateral source, limiting punitive and non-economic damages, and establishing a uniform standard for non-economic awards. Fair Competition – OMEGA is comprised of hometown employers and entrepreneurs contributing to our communities. We believe that advantages should not be given to large out-of-state companies or that our surrounding states should have advantages over us. We continue to seek an even playing field to conduct business. Fuel Tax Stability – While it is critical to appropriately fund our highway system, OMEGA believes we need to analyze where the dollars are going and determine how they can be spent more efficiently. We need to find alternate sources of funding for our highway system and not rely on fuel taxes to fund roads. Governmental/Regulatory Cooperation – OMEGA members provide both employment and valuable services to West Virginia. Representing three separate, yet inter-related industries, OMEGA members interact with numerous governmental and regulatory agencies on a daily basis. We desire fair and consistent treatment and an environment that is business friendly. Healthcare – Affordable healthcare continues to be a major issue for OMEGA members. The adequate funding of government healthcare programs, reduction and control of healthcare costs, and availability of affordable health insurance for West Virginia employers and employees are fundamental components of a strategy that will help reduce the cost-shift and the rise in private health insurance premiums experienced by the business community. Interchange Fees – Credit card fees cost a typical convenience store 2.5 to 3 percent of the transaction and are the third-largest expense at store level. Only labor and rent costs are more. Solutions – regulatory and otherwise – need to be found to reduce these credit card fees before they become even more burdensome. Tax Modernization – West Virginia’s tax structure has long been criticized as not being competitive with other states in terms of attracting and retaining businesses with well-paying jobs. We support eliminating the remaining .20% Business Franchise Tax rate beginning January 1, 2014 as well as gradually reducing the Corporate Net Income Tax rate from the current 8.75% to 4.99%. We are also in favor of providing credits against state business taxes for property taxes paid on business inventory, machinery and equipment.

 

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