However, the challenges for small businesses are many – especially in this stagnant and over-regulated economy. Today, the House passed two bills that will ease the squeeze on small business workers and owners around America.
The first is H.R. 4457, America’s Small Business Act. This bill is aimed at helping small businesses purchase new equipment and property – allowing them expand their business and hire more employees. This bill will also create stability for small businesses, making an existing maximum spending limit permanent . Reducing the cost of equipment, giving small businesses more security, and making the tax code simpler are essential steps to strengthen the entire American economy.
The second bill introduced is H.R. 4453, S Corporation Permanent Tax Relief Act of 2014. This bill will level the playing field for “S Corporations” – businesses like doctor’s offices and small manufacturers. These businesses employ one in four private sector workers.
H.R. 4453 will make it easier for these workers and employers to access products to grow their business without a tax penalty, allowing them to produce and create to their fullest potential. This bill will also give small businesses the same opportunities to make the same charitable donations that corporations have. By making the tax code fairer, these job creators will be able to grow their businesses, hire more Americans, and build an economy that will help Americans thrive.
House Republicans are providing solution after solution to create jobs that would help Americans on every Main Street in the country. Reforms, like H.R. 4457 and H.R. 4453, will rein in red tape, boost opportunities, and create a stronger American economy for all.