A primary focus of the summit was the cost of health insurance in the commonwealth. Hunt cited a recently issued IRS analysis of health plan costs which puts Massachusetts number one on the list with the most expensive small group market insurance premiums in the country.

Hunt presented the qualifying criteria for the new Small Business Health Care Tax Credit, part of the national health insurance reform bill, which provides for a credit of up to 35% of the cost of employee health insurance. He also outlined the requirements to take advantage of the Work Opportunity Tax Credit and the HIRE Act.

Outlining several of his legislative agenda proposals designed to lessen the tax burden on small businesses, Hunt called for the removal of the $456 corporate excise tax "floor," lowering state income, meals, use and sales tax rates to five percent, and replacing the twelve percent short-term capital gains tax rate with the ordinary income tax rate.

"When the economic 'pie' is shrinking and the state takes more of the pie by increasing sales, use and meals taxes by 25%, there are simply fewer dollars to be spent in your businesses. I just don't get why legislators don't understand this," Hunt lamented.

"Those dollars taken by the state in the form of sales and meals taxes could have been spent by businesses on goods, services and payroll; all of which return more to the state's treasury in terms of income taxes after considering the multiplier effect. This is Economics 101, a class that apparently was skipped by our lawmakers."

Hunt also called for the reduction of income tax on small "C" corporations from the current 9.5% to 5% for those with taxable incomes of less than $1 million. "These are the things we need to do to get the economy moving. Helping small businesses start, grow and prosper generates jobs. And on Cape Cod, small businesses are the life blood of our economy."