Some speak, other act - Aid to New Orleans

[Mass]

http://www.earthtimes.org/articles/show/news_press_release,40921.shtml

Improving Disaster Loan Program a Top Priority for 110th Congress
Posted on : Fri, 05 Jan 2007 20:56:01 GMT | Author : Senate Committee on Small Business and Entrepreneurship
News Category : PressRelease

WASHINGTON, Jan. 5 /PRNewswire-USNewswire/ -- Sen. John Kerry (D-Mass.), incoming Chair of the Senate Committee on Small Business and Entrepreneurship, and Sen. Olympia J. Snowe (R-Maine), incoming Ranking Member, made improving the SBA's Disaster Assistance program a top priority of the Committee by introducing legislation yesterday to improve this critical disaster response program. Senators Mary Landrieu (D-La.) and David Vitter (R-La.), both members of the Committee, are leading cosponsors of the Small Business Disaster Response and Loan Improvements Act of 2007 (S. 163), which builds on previous proposals to provide immediate and meaningful relief to disaster victims.

"Washington can do better to help small businesses and homeowners recover after a disaster -- a lesson we learned all too well after Hurricanes Katrina and Rita. But those lessons are meaningless unless we enact this common sense, bipartisan proposal that addresses the failures of the Disaster Loan Program and provides the critical tools for helping future disaster victims immediately, instead of months down the line," said Kerry.
...

[Mass]

1. Sen. Kerry's Small Business Priorities

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/01-05-2007/0004500646&EDATE=

Sen. Kerry's Small Business Priorities

WASHINGTON, Jan. 5 /PRNewswire-USNewswire/ -- Yesterday, Sen. John
Kerry (D-Mass.), incoming Chair of the Committee on Small Business and
Entrepreneurship, outlined some of his top priorities for the 110th
Congress by introducing four bills that will help small business owners
around the country. These bills will improve the government's Disaster Loan
Program, reduce health care costs for small firms, reform the Alternative Minimum Tax, and expand
entrepreneurship opportunities in minority communities (details below).
Kerry Introduces Health Care Tax Credit, AMT Reform Bills for Small
Firms
On January 4, 2006, Sen. Kerry introduced tax credit legislation that
will help small businesses lower their health care costs and encourage more
small firms to offer health coverage. Kerry also introduced legislation to
reform the Alternative Minimum Tax
"One of my top priorities is to reduce the skyrocketing cost of health
care in this country. When it comes to small business, owners should focus
on what they do best -- creating jobs and contributing to the economy --
instead of worrying about whether they can afford to provide health
benefits. This legislation to help small businesses is a good interim step
towards helping all Americans by lowering health care costs."
Kerry's Small Business Health Care Tax Credit Act of 2007 provides
small firms with less than 50 employees a refundable tax credit to help
with the cost of health insurance for employees earning $5,000 -- $50,000 a
year. In order to receive the credit, the employer must pay at least 50
percent of the health care insurance premium.
Kerry's plan to reform the Alternative Minimum Tax (AMT) is the same as
S.2826, which he introduced last year. The bill expands and extends the
individual AMT exemption amount for 2007 and allows nonrefundable credits
against the AMT for 2007. It is revenue neutral and is offset by repealing
the lower rates on capital gains and dividends for 2009 and 2010.
"Reforming the AMT is critical to keeping small businesses competitive
and successful. Over the last few years more many Americans, including
small firms, have become trapped by the AMT. We need to raise the exemption
amount to level the playing field. "

Kerry Priority: Increase Minority Entrepreneurship Opportunities
Sen. Kerry also introduced legislation to help increase loan,
contracting and entrepreneurial development opportunities for current and
potential minority business owners.
"The priorities of the nation are set at the beginning of a new
Congress. As the incoming Chair of the Committee on Small Business and
Entrepreneurship, I want to create more opportunities for Americans to
start and grow businesses of their own. I have introduced the Minority
Entrepreneurship Development Act to encourage more development of
entrepreneurship in minority communities and give them the opportunity to build their own piece of the American dream," said Kerry.
Specifically, the legislation establishes an Office of Minority Small
Business Development at the Small Business Administration to give minority
entrepreneurs an advocate in the agency.
The legislation creates the Minority Entrepreneurship and Innovation
Pilot Program to foster a passion for entrepreneurship in high-achieving
young people at Historically Black Colleges and Universities (HBCU),
Hispanic Serving Institutions and Tribal Colleges. In addition to inspiring
a desire to own a small business, this program also gives students the
skills and knowledge necessary to succeed in the business world.
Senator Kerry's bill also creates the Minority Access to Information
Distance Learning Pilot Program which enables distance learning programs
for small business owners, and reauthorizes the Socially and Economically
Disadvantaged Business Program, which increases small businesses' ability
to compete with larger firms by providing a Price Evaluation Adjustment.

[wisteria]

2. Very informative. Thanks for posting. n/t

[Democrafty]

3. This is great, thanks.

There is so much potential for small businesses to really participate in improving the quality of life in the communities around them. I think JK really gets this.