Democratic Congress a Boon to Small Business
The election marked a change in leadership, and the Democrats in Congress are using their new positions to help small businesses, as Entrepreneur.com recently noted. It "could prove a boon for small business" and has included giving small business committees a larger role and greater voice, as well as funding the Small Business Administration (SBA). In addition, more legislation is also on the way:
The new Congress will also try to slash regulations on small companies, a pet issue of Velázquez, Nancy Pelosi and John Kerry, the new chair of the Senate Committee on Small Business and Entrepreneurship. Shortly after taking her gavel, Velázquez introduced the Small Business Tax Fairness and Simplification Act of 2007, designed to reduce paperwork for small tax filers. [...] Regarding health care, several congressional experts believe the focus will shift from health savings accounts to health-care tax credits. Kerry introduced legislation giving small businesses a tax credit to pay for the health costs of their employees earning less than $50,000.
The new chair of the House Small Business Committee, Nydia Velázquez, also might help the SBA's ability to respond to disasters, such as Hurricane Katrina.
And this is just the beginning. On issue after issue, Democrats are on the side of small businesses.
