Aguilar introduces legislation which would offer small businesses a tax credit

Rep. Pete Aguilar (CA-31) has introduced the Small Business Jobs Act of 2015, which would give small businesses looking to expand their workforce a tax credit equal to what they pay in payroll taxes for the first five new job openings their business generates.

This tax credit is targeted to small businesses expanding in areas with consistently high unemployment rates.

"Since taking office, my priority has been to create and support policies that improve our economy and strengthen San Bernardino's middle class," Aguilar said. "A few weeks ago I introduced a workforce training bill -- which has received bipartisan support -- and today I'm proud to introduce my newest piece of legislation that will empower small businesses to expand and will help lower our unemployment rate."

He added, "It's time to get the Inland Empire economy back on the road to recovery and put our residents back to work; this bill will help us do just that."

Aguilar's bill specifically targets businesses in areas with an average annual unemployment rate of at least one percentage point above the national average for the previous calendar year. This includes San Bernardino County, which had an average annual unemployment rate of 8.1 percent in 2014 compared to the national average of 6.2 percent.

This year, the jobless rate in San Bernardino County has gone down to 6.5 percent.