Small Businesses
Jobs will be the focus of the Obama administration in 2010. In his State of the Union Address, he called upon Congress to help create the conditions necessary for businesses to expand and hire more workers.
Small businesses have historically been the engine of job creation in this country. Therefore Obama is proposing that we take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. Many small companies have weathered the recession and are ready to grow, but the banks on Wall Street are mostly lending to larger companies.
President Obama is proposing a new small-business tax credit, for small businesses who hire new workers or raise wages. He wants to eliminate all capital gains taxes on small-business investment and provide a tax incentive for all businesses to invest in new plants and equipment.
Unquestionably, we must put more Americans to work building clean-energy facilities and give rebates to Americans who make their homes more energy efficient, which supports clean-energy jobs. Obama wants to encourage businesses to stay within our borders, and has insisted, that the time to slash tax breaks for companies that ship our jobs overseas is long overdue.
The House of Representatives has passed a jobs bill that includes many of these proposals, and it’s time for the Senate get to work on a jobs bill, because so many Americans are out of work and hurting.
These steps won’t make up for the 8 million jobs that have been lost over the last two years, but it’s the only way to move towards full employment and will begin to lay a new foundation for long- term economic growth, while addressing the problems that America’s families have confronted for decades.
Small businesses have historically been the engine of job creation in this country. Therefore Obama is proposing that we take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. Many small companies have weathered the recession and are ready to grow, but the banks on Wall Street are mostly lending to larger companies.
President Obama is proposing a new small-business tax credit, for small businesses who hire new workers or raise wages. He wants to eliminate all capital gains taxes on small-business investment and provide a tax incentive for all businesses to invest in new plants and equipment.
Unquestionably, we must put more Americans to work building clean-energy facilities and give rebates to Americans who make their homes more energy efficient, which supports clean-energy jobs. Obama wants to encourage businesses to stay within our borders, and has insisted, that the time to slash tax breaks for companies that ship our jobs overseas is long overdue.
The House of Representatives has passed a jobs bill that includes many of these proposals, and it’s time for the Senate get to work on a jobs bill, because so many Americans are out of work and hurting.
These steps won’t make up for the 8 million jobs that have been lost over the last two years, but it’s the only way to move towards full employment and will begin to lay a new foundation for long- term economic growth, while addressing the problems that America’s families have confronted for decades.
posted by Jim O'Leary | 12:04 AM
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