Small Business Virtually Left Out of Dem Bill

Why the Democrats can’t get it through their thick skulls that small businesses are the life blood of America, I’ll never understand. The continue to ignore or penalize the small business owners. They apparently hate small business as much as they hate big business.

Four Republicans, including new Massachusetts Senator Scott Brown, joined with Democrats Monday to move a job-creation bill past a filibuster attempt. A final vote on the measure will be held today. (See earlier story)

The bill includes a $13-billion program allowing companies to avoid paying Social Security taxes for the remainder of 2010 on new hires who have been unemployed for at least 60 days. Employers would also receive a $1,000 tax credit for each new worker who stays on the job for at least a year.

Majority Leader Harry Reid (D-Nevada) dumped a compromise measure negotiated by Senators Max Baucus (D-Montana) and Chuck Grassley of (R-Iowa) that would have extended about $70 billion in tax breaks to businesses and individuals, help for the unemployed, and additional Medicare payments to physicians.

“My bill would allow small businesses to expense twice the amount of purchases that the Reid bill does, and [it] would make these higher levels permanent law so they don’t have to be renewed every year,” [Grassley] explains. “Altogether in the Reid bill, small business only receives — get this — $35 million out of a $62-billion bill.”

Original Link.

Leave a Reply

*