Small Business Jobs Package Proposal

Directly from WhiteHouse.gov

The Administration continues to work to pass a comprehensive small business jobs package, including new lending initiatives to help creditworthy firms access capital, tax cuts to support investment and expansion, and enhancements to successful Small Business Administration programs. These efforts follow up on actions already taken, including Recovery Act enhancements to SBA programs, a $40 billion Small Business Health Care Tax Credit, and the new hiring tax credit passed through the HIRE Act.

  1. New Administration Lending Initiatives to Provide Credit to Small Businesses
    • A New $30 Billion Small Business Lending Fund to Support Community and Smaller Banks That Lend to Small Businesses in Their Communities
    • A State Small Business Credit Initiative to Strengthen Innovative State Lending Programs—At a Time When Many are Struggle to Meet Increased Demand in the Face of State Budget Shortfalls
  2. Tax Incentives for Small Businesses to Invest and Grow
    • Zero Capital Gains Taxes on Small Business Investments
    • Extending A Provision that Expands Small Businesses’ Ability to Immediately Expense New Equipment Investments
    • “Bonus Depreciation” to Provide Incentives for Businesses to Invest in Plant and Equipment
  3. Enhancement of SBA Programs
    • Permanently Increasing Maximum Loan Sizes for SBA Loan Programs
    • Expanding Access to Commercial Real Estate Refinancing Under the 504 Program
    • Supporting Smaller Loans and Early Stage Companies

Read the full small business jobs package at http://www.whitehouse.gov/sites/default/files/rss_viewer/small_business_jobs_package_5-25-10.pdf

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