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Issues
Small Business
As a former small business owner and senior member of the House Small Business Committee, I have worked very hard to make it easier for small businesses to grow, thrive and prosper. I was the principal author of the Truth-in-Regulating Act and its successor, the Cut Unnecessary Regulatory Burden Act, which would require the federal government to assess the impact of proposed regulations on small businesses before they are implemented. I also wrote the Business Checking Freedom Act, which would repeal a 70 year old law that prohibits banks from paying interest on a business checking account, and the Increased Capital Access for Growing Businesses Act, which would increase small business access to capital for growth and job creation. Both bills have been passed by the House of Representatives and await action by the Senate. I’m also dedicated to driving down health care costs and taxes which impede small business expansion. Congress can help small businesses better afford health care coverage for its employees by passing the Small Business Health Fairness Act, which would allow small businesses to join together through bona-fide trade associations to purchase health insurance for their workers. The Congressional Budget Office estimates the legislation would save the typical small business owner or worker up to 30 percent on health insurance premiums, enabling small business owners to provide insurance to 8 million Americans who are currently uninsured. The measure has passed the House and is awaiting action in the Senate. We’ve done a lot in recent years to reduce the tax burden on small businesses. Since most small businesses file their taxes at individual tax rates, the 2001 income tax rate reductions provided significant relief for many small businesses. We’ve also made it easier for small businesses to expand by increasing their ability to expense capital investments. We need to continue these positive steps by making permanent the tax relief measures we’ve passed in recent years. I’m a cosponsor of the Death Tax Repeal Permanency Act, which permanently repeals the death tax. Small business owners and farmers spend a lifetime building their businesses. Studies show that many fail upon the death of the owner because the heirs cannot pay the confiscatory 55 percent tax to the government upon the death of the owner. The key to growing the economy and creating new jobs in New York and the Hudson Valley region is easing the regulatory and tax burden impose upon those who create the jobs, hire new workers, spawn new innovation and technological advances. I will continue doing all I can to assist small business owners. Related News
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LINKS TO KEY WASHINGTON NEWS SOURCES
PO Box 599 Katonah, NY 10536 sue@suekellyforcongress.com