• NASE Helps Get America "Back on Track"

• Senate May Come Up Short on the Estate Tax

• House Small Business Committee to Hold Hearing on Procurement Issues

• Introducing "Bob's Place"

NASE Helps Get America "Back on Track"
 

SBA Administrator Hector Barreto

Always working for the self-employed and micro-businesses, the NASE participated in the final stop of Back on Track America, a series of events aimed at reviving America’s entrepreneurial spirit after the September 11 terrorist attacks. Hosted by Small Business Television (SBTV) and journalist Jane Applegate, the “Back on Track” team traveled across the U.S. in an Amtrak train during the six-month, grassroots effort. At nine stops along the rail tour “Back on Track” offered small-business owners free information, advice and counseling on dealing with the economic downturn.

The NASE greeted the tour at Washington, D.C.’s Union Station during National Small Business Week. Hector Barreto, administrator for the U.S. Small Business Administration, addressed those gathered on the importance of innovators and entrepreneurs in reviving the economy. The NASE met with many local self-employed and micro-business owners at the event, as well as staffed a table for the trade fair.
 

Senate May Come Up Short on the Estate Tax

As reported in a previous Washington Watch, the Senate leadership has indicated their willingness to consider legislation that would permanently repeal the onerous estate tax. Senators have proposed that H.R. 8, the Death Tax Elimination Act, sponsored by Rep. Jennifer Dunn (R-WA) and passed by the House, be voted on in the Senate prior to the July 4 congressional recess.

The NASE supports raising the threshold of the estate and gift tax exemption, currently $675,000, to $5 million in order to provide relief for the nations’ micro-businesses. Under President Bush’s tax relief package passed last year, the estate tax will be phased out by 2009. However, on December 31, 2010 the estate tax and other provisions stipulated in the tax relief package will return to 2001 levels – bringing the exemption back down to $675,000. The NASE strongly feels that the estate tax is debilitating to surviving beneficiaries. Preparation for the estate tax also places a tax burden on the micro-business owner. Money spent on estate tax planning measures could be reinvested into the company. Moreover, estate tax liability considerations frequently affect business decisions about investments and expansions. Thus, Congress must either raise the exemption to $5 million or permanently repeal the estate tax.

Due to procedural rules of the Senate, at least 60 Senators must agree to hold a vote on the estate tax repeal. Supporters of the estate tax repeal are coming up short of the required 60 votes to bring the issue to the floor.

The NASE is asking you to contact your Senators regarding the estate tax by utilizing the NASE Legislative Action Center.
 

House Small Business Committee to Hold Hearing on
Procurement Issues

The House Small Business Committee will hold a hearing this week on procurement policies from the Pentagon and Department of Defense as they relate to small businesses. This is just one in the series of hearings the Committee has held regarding small-business procurement.

“Small businesses are often able to provide better goods and services at lower prices to the government than their large competitors,” Chairman Donald Manzullo (R-IL) said. “We should take steps to welcome them into the federal procurement process instead of shutting them out.”

The NASE strongly supports a fair and equal playing field for small businesses and the self-employed in regards to procuring government contracts.
 

Introducing "Bob's Place"

Noticed anything new on the NASE Web site? Bob Hughes, NASE president, has initiated a weekly column spotlighting important news from your association. Look for Bob’s update on the NASE home page every week.
 

Do any of these issues affect you? Visit the NASE’s Legislative Action Center and Tell Your Small Business Story. This will help the NASE understand - on a personal level - how key legislative issues are affecting your business and your bottom line.


For more information, contact Maureen Petron, NASE public affairs manager, at (202) 466-2100 or mpetron@nase.org.