David Kirkpatrick

June 16, 2010

Some tax relief looming for small business

The tax relief package has comfortably passed the House and hopefully will finally make life a bit easier for startups and other small businesses.

From the link:

The bill, which would eliminate capital gains taxes on investments in small businesses, passed on a vote of 247-170.

It is a companion bill to legislation backed by President Barack Obama that the House is to consider on Wednesday. That bill would create a $30 billion fund to encourage community banks to lend to small businesses.

“Small businesses need capital to create jobs and lead our economic recovery and these bills contain important tax cuts and lending opportunities that will help give small business owners the resources and flexibility they need to help their businesses grow,” said House Ways and Means Committee Chairman Sander Levin.

The bill gives small businesses a bigger tax break on start up costs and creates a program to help small businesses struggling to repay loans.

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December 18, 2008

Obama’s two-year stimulus package at $850B

Filed under: Business, Politics — Tags: , , , — David Kirkpatrick @ 12:59 pm

It’s big. Real big, but not as big as has been reported recently.

Earlier this week there were reports that the initial two-year stimulus would be around one trillion dollars. $850 billion is close, but it’s no trillion. There was also talk of a second package matching the first trillion.

Don’t see any report of that in this story. This announcement does mention a possible tax relief program for low- and middle-income taxpayers.

From the second link:

Eager to jolt a worsening economy back to life, President-elect Barack Obama’s aides are assembling a two-year stimulus package that could cost $850 billion with a blend of new jobs, middle-class tax relief and expanded aid for the poor and the unemployed.

Obama has not settled on a grand total, and the final figure could be smaller. But after consulting with outside economists of all political stripes, his advisers have begun telling Congress the stimulus should be bigger than the $600 billion initially envisioned, congressional officials said Wednesday.

Obama is promoting a recovery plan that would feature spending on roads and other infrastructure projects, energy-efficient government buildings, new and renovated schools and environmentally friendly technologies.