October 13, 2004
House Democrats Release Small Business Agenda
“Democrats believe that government should help small businesses achieve their goals -- not stand in their way,” said House Minority Leader Nancy Pelosi (D-CA) as she unveiled the Democratic small-business agenda last week. Access to affordable health coverage, access to capital, and opening the federal marketplace to small businesses are some of the key provisions of the agenda.
“Democrats are committed to small business. We know that small businesses account for more than 95 percent of all employers, create half of our gross domestic product, and create three out of four of new jobs nationwide. And small businesses are leaders in innovation, creating new technologies, products, and business models,” Pelosi said. “The agenda we are releasing today responds to their concerns, and speaks to the entrepreneurial spirit of small-business owners that makes our country great.”
As a bipartisan association, the NASE believes strongly that working with Members of Congress from both sides of the aisle on the issues facing the self-employed and micro-business is the only way to succeed in removing barriers to their growth.
The Democratic small-business agenda includes:
Lower costs and expand affordable health coverage for small businesses: create a 50 percent tax credit to help small businesses with the cost of health coverage; create state and national multi-insurer pools to provide comprehensive and affordable health insurance choices to small employers and the self-employed. Ensure that small businesses have access to capital and technical assistance to start and expand their business: fully fund all of SBA’s access to capital initiatives – including the Microloan and 7(a) lending programs, and support efforts to broaden the availability of equity capital to America’s entrepreneurs; support SBA’s entrepreneurial development programs, including the Small Business Development Center and Women’s Business Center programs. Open the federal marketplace to small businesses: work to end the practice of creating “mega contracts” that take opportunities away from small businesses at no savings to the taxpayer; increase the access of small business to federal contracts overseas; institute a fair contracting appeals process for small businesses to be heard; add new protections to small business subcontractors; increase contracting opportunities for women, low-income individuals, and minorities. Make federal regulations friendlier for small businesses: work to ensure that agencies consider the impact of their policy decisions on small business; help small business to comply with federal regulations; strengthen and preserve the independence of the SBA Office of Advocacy. Provide targeted tax relief and assistance for small businesses and small manufacturers: new jobs tax credit that would give businesses $3,000 for every job created in the next two years by American manufacturers, small businesses, and other industries affected by outsourcing; provide tax incentives to small businesses to generate investment. Open new markets for small businesses: pursue fair trade strategies that open markets; ensure a level playing field for American workers and businesses; strengthen critical domestic industries, such as our manufacturing, intellectual property, and technology sectors.
“The NASE is pleased that the Democratic agenda includes proposals such as health tax credits, funding for the SBA’s Microloan and 7(a) lending programs, expansion and support of entrepreneurial development programs such as the Small Business Development Centers and Women Business Centers, paperwork and regulatory relief, and targeted tax relief for small business,” said NASE President Robert Hughes.
Read more about the Democratic small business agenda at
http://democraticleader.house.gov/press/releases.cfm?pressReleaseID=714.
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More Small Businesses Eligible to File Schedule C-EZ
More small businesses are eligible to file the simplified Schedule C-EZ, reducing their paperwork burden, thanks to an expansion in the expense threshold by the Internal Revenue Service.
The move doubles the business expense threshold to $5,000 from $2,500 for filing the Form 1040, Schedule C-EZ. The IRS estimates that with the change approximately 500,000 more small businesses can file the Schedule C-EZ, meaning a savings of 5 million hours of paperwork burden for small-business taxpayers.
The Form 1040, Schedule C-EZ was first established in 1992. It was intended to make it easier for small businesses with modest expenses to file a simplified form. Small-business owners that file a Form 1040 use the Schedule C to report profits and expenses.
For more information, visit http://www.irs.gov
NASE Attends ‘Opportunity Conference’ for Asian and Hispanic Small Businesses
The Department of Labor’s 21st Century Workforce Office recognized the evolving American workforce this week with an “Opportunity Conference” for Asian Pacific and Hispanic American small business owners. The NASE supported the event, the second such conference in two months for the DOL.
Opportunity Conference focused on a range of topics on the economic development of the Asian Pacific and Hispanic American communities. By reaching out to small business owners, non-profit organizations, and community leaders, this innovative conference addressed the needs of the two fastest growing segments of the 21st century workforce.
The event emphasized key components of economic development including minority homeownership, job training, and understanding procurement opportunities. Workshops provided participants with information about small business development, accessing capital, doing business with the government, opportunities for faith-based and community organizations, and assistance to workers with limited English proficiency. Secretary of Labor Elaine Chao, Deputy Administrator of the U.S. Small Business Administration Melanie Sabelhaus were featured speakers at the conference.
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