A new bill promises higher loans and bigger benefits for those pursuing business on a smaller scale…

• On June 29^th the Senate introduced a small-business jobs bill that guarantees higher and more inclusive government loans for small businesses and provides tax incentives to encourage small business investment.
• The bill also includes a lending fund that loans money to community banks so that they can then lend to small businesses. It also finances state and local programs that would aid businesses in getting bank credit.
• The bill is designed to appeal to a bi-partisan crowd. It allows people to pay more taxes strictly by choice, with the hope that this will appeal to both a Republican and Democratic audience and eventually be implemented.

Best Quote

“It is attractive politically because people pay more taxes today only if they choose to do so; ergo no one can complain about the tax increase.” – Roberton Williams, Senior Fellow, Tax Policy Center

Tags: bill, legislation, small business, tax incentive