Small Business Saturday is an excellent opportunity for communities to support their entrepreneurs and job creators. Across the country, consumers make a conscious effort to Shop Small, and in doing so, stimulate their local economies and show their appreciation for the work of their neighbors.
In Congress, we are also working to support small businesses. Recently, I partnered with Representatives Brad Sherman (D-CA), Patrick McHenry (R-NC), and Gwen Moore (D-WI) to introduce bipartisan legislation to expand access to capital for America’s small and middle market companies. The Small Business Credit Availability Act makes important reforms that will enable Business Development Companies (BDCs) to make more investments in small businesses.
BDCs were created by Congress to assist small businesses in acquiring capital to grow their operations and hire more workers. BDCs are required to invest at least 70 percent of their assets into private operating companies and publicly traded firms – such as middle market businesses. They are an important source of financing for many locally-owned businesses, especially in recent years as banks have cut back on lending. The Small Business Credit Availability Act makes it easier for BDCs to provide financing so that these businesses can continue to create jobs in our communities. After all, small businesses employ nearly 48 million Americans and are responsible for approximately one-third of our nation’s gross domestic product (GDP).
That is why we also cannot afford to punish the hard work of these job creators with high tax rates. I have heard from many entrepreneurs in the 15th District who have been directly impacted by the current astronomical rates their businesses are subject to. In some cases, rates are as high as 44.6 percent. Worse yet are the constituents I hear from who have incredible ideas and the business savvy necessary to pursue them, but see our overwhelmingly complex tax code as a barrier to market entry that they cannot overcome.
That’s not an unfounded fear; over $4 billion is spent each year by businesses trying to comply with our tax code – that’s nearly $12,000 per company each year. That is $12,000 that could be spent hiring more workers, growing their businesses, and contributing to their local economies.
As Congress continues to work towards tax reform, small businesses must remain at the heart of the discussion. The House has taken important steps like allowing businesses to write off the full cost of new equipment immediately. This way, businesses can get their operations off the ground and enhance the skills of workers, all while unleashing growth of jobs, productivity, and paychecks.
There is much that can be done to reduce the tax burden that new businesses face when they are first opening their doors, but that is a small piece of the puzzle. We need a comprehensive reform of our tax code that puts more money in the pockets of middle-class Americans so that we can give them the economic freedom to pursue entrepreneurial opportunities and invest in themselves and their ideas. I am committed to working towards lowering tax rates so that job creators can invest more money in their businesses and their workers.
For more information on our efforts to reform the tax code, please click here. If you have questions about how we are working to support small businesses, or any of the issues before Congress, please contact my Washington, D.C. office at (202) 225-2015, my Hilliard office at (614) 771-4968, my Lancaster office at (740) 654-2654, or my Wilmington office at (937) 283-7049.
Recently, I had the opportunity to return to my alma mater, The Ohio State University, to participate in the Congressional Conversations series, presented by the Moritz College of Law and the John Glenn College of Public Affairs. It was a beneficial afternoon spent discussing the legislative process and the need for bipartisanship, and a great opportunity to engage with students.
Whenever I visit any of the colleges or universities in the 15th District - Hocking College, Ohio Christian University, The Ohio State University, Ohio University, or Wilmington College - I am incredibly impressed by the caliber of these students, and that afternoon was no exception. As their Congressman, one of my priorities is to support them, and all students who want to pursue higher education, to the best of my ability.
That is why I recently spoke on the House Floor in support of the College Transparency Act – a bill that I am cosponsoring with Representatives Paul Mitchell (R-MI) and Jared Polis (D-CO). This bipartisan bill supports students and families who are looking to enroll at a college or university by ensuring that they have access to reliable information, like enrollment, completion, and the number of graduates from a particular major that are employed. By revamping the student-level data provided to the National Center for Education Statistics (NCES), prospective students will be able to assess how similar students have succeeded at a college or university. Additionally, this bill will rework the overly-burdensome reporting system institutions must comply with, and ensure that the valuable information is securely stored and presented in a user-friendly website.
November is an exciting but stressful time for many young students in the 15th District, and across the country, as high school seniors begin to receive their acceptance letters and contemplate what path they will take following graduation. This legislation will ensure that potential students understand the investment that they are making by providing information to show how others students have succeeded at an institution, and help point them towards schools best suited to their unique needs and desired outcomes. College is hard enough; the least Congress can do is make deciding which school is right for you a little bit easier.
For students who have already made the choice to pursue higher education, but may be struggling with the web of federal financial aid, my office may be able to help. If you, or someone you know, is having an issue with the IRS or the Department of Education, please call my Hilliard office at 614-771-4968.
My afternoon at OSU just reinforced how crucial it is that we help our students. We cannot squander our best natural resource: the minds of the next generation. If you have any questions about the College Transparency Act, or other legislation being considered in Congress, please do not hesitate to contact my Washington, D.C. office at (202) 225-2015, my Hilliard office at (614) 771-4968, my Lancaster office at (740) 654-2654, or my Wilmington office at (937) 283-7049.
WASHINGTON, D.C. – Congressman Steve Stivers (R – OH) today announced that his Ohio District Offices will once again serve as drop-off sites this year for the U.S. Marine Corps Reserve Toys for Tots Program.
From now until December 7, 2017, members of the community may drop off new, unwrapped toys Monday through Friday between 8:30am and 4:00pm at any of the following locations:
• Hilliard District Office: 3790 Municipal Way, Hilliard, OH, 43026
• Lancaster District Office: 104 East Main Street, Lancaster, OH, 43130
• Wilmington District Office: 69 North South Street, Wilmington, OH, 45177
“The Toys for Tots program is a great way to spread goodwill and make the holidays special for many children in our community. I’m proud to partner with the Marine Corps Reserves on this effort, and I encourage everyone who is able to consider donating,” Stivers said.
For additional information, please contact Congressman Stivers’ district offices at any of the following phone numbers: Hilliard District Office (614) 771-4968; Lancaster District Office (740) 654-2654; Wilmington District Office (937) 283-7049.
1022 Longworth HOB
Washington, DC 20515
Raised in Ripley, Ohio, Steve Stivers learned from his mother and father the importance of family, hard work and public service, which have been the values he has carried with him through his life, whether as a student at The Ohio State University, a soldier serving overseas, as a State Senator, or as a Member of Congress.
Stivers is currently serving his third term as a Member of Congress and represents Ohio’s 15th Congressional District, which is made up of 12 counties including: all of Athens, Clinton, Fairfield, Hocking, Madison, Morgan, Perry, Pickaway, and Vinton counties, and parts of: Fayette, Franklin, and Ross counties.
Stivers is serving his third term his third term on the Financial Services Committee, which oversees the banking, insurance, real estate, public and assisted housing, and securities industries. Members who serve on the committee also work on housing and consumer protection legislation and oversee Fannie Mae and Freddie Mac, the Federal Deposit Insurance Corporation, the U.S. Department of Housing and Urban Development and the Federal Reserve Bank.
In addition, Stivers has been tapped to serve on the Committee on Rules, which is charged with determining which bills reach the House Floor for a vote. Historically, the Committee is often known as “The Speaker’s Committee” because it was chaired by the Speaker up until 1910 and is the means through which the Speaker of the House manages the House Floor. The Committee also determines how long and under what rules the full body of the House will debate each bill.
Throughout his career, Steve Stivers has led the way supporting programs and initiatives to encourage job creation, promote economic development, and put our country’s fiscal house in order. As he wrapped up a successful first term in office, two of Stivers veterans bills, the HIRE at Home Act and TRICARE for Kids, were rolled into the National Defense Authorization Act and signed into law by the President. In his second term in office, Stivers had two bills make their way to the President’s desk. These two bills, H.R. 1391 and H.R. 4189,would re-name two postal facilities located in Ohio’s 15th Congressional District after our fallen veterans. These bills are a small measure Congress can take to honor the lives of brave service members who gave the ultimate sacrifice for our freedoms.
Prior to running for Congress, Stivers served in the Ohio Senate and before that worked in the private sector for the Ohio Company and Bank One, where he focused on promoting economic development and encouraging job creation.
A career soldier, Stivers has served 29 years in the Ohio Army National Guard and holds the rank of Colonel. He served the United States overseas during Operation Iraqi Freedom in Kuwait, Iraq, Qatar and Djibouti where he led 400 soldiers and contractors and is proud that each and every one returned home safely to the United States. Stivers received the Bronze Star for his leadership throughout the deployment.
Stivers received both his bachelor’s degree and his MBA from The Ohio State University and resides in Columbus with his wife, Karen, and children, Sarah and Sam.
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Thanks to the Perry Behavioral Health staff for the tour of ClearView - an important resource in combatting the opi… https://t.co/i5yZ5zhuIP
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Great meeting with Jason, who served with the 101st Airborne Division, and Abraham Lincoln. I introduced the Vetera… https://t.co/4Wa0BboYIL