Small Business

Small business is the engine that drives our economic strength. The almost 26 million small businesses in the United States employ over half of all private sector workers and pay approximately 45 percent of total U.S. private payroll. Over the last decade, small businesses have generated 60 to 80 percent of net new jobs annually.

Congress, for decades, has acknowledged the important role small business should play in the Federal procurement process. This is evident in the Small business Act of 1953 which says: “it is the declared policy of the Congress that the government should aid, counsel, assist and protect ... the interests of small business concerns in order to preserve free competitive enterprise and to ensure that a fair proportion of the total purchases and contracts or subcontracts for property and services for the government ... be placed with small business enterprises.”

As our economy recovers because of the imagination and hard work of America’s workers and entrepreneurs, I will continue to do everything in my power to help small businesses succeed.

One of the many burdens that face a small business is a complicated tax code. Most small businesses file their taxes as S Corporations or Sole Proprietorships, both of which are taxed on individual rates. When the 108th Congress lowered the individual tax brackets by 3% under the Jobs and Growth Tax Relief Reconciliation Act of 2003, millions of small businesses saw their tax bills reduced. With access to more capital, small business owners have the means to increase the size of their enterprises, creating more jobs in their communities.

Of the millions of Americans without health insurance, approximately 60% are employed by small businesses. We must make health insurance more affordable to allow small business owners to provide coverage to their employees.

To address the serious problem of hard working Americans unable to have access to affordable health care, I support the Small Business Health Fairness Act, which seeks to establish Association Health Plans (AHP). AHPs would allow small businesses to band together within established trade organizations and associations to obtain increased bargaining power when purchasing health insurance, reducing the cost of insurance by as much as 30 percent. I will continue to do all I can so that this important legislation is passed by Congress and signed into law.

Small business owners and workers are the heart of the American economy. We should never forget the vital role that small business plays in both our economy and our society at large. I will continue to fight in Congress for the interests of small business owners and workers.

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Recent Small Business releases  VIEW BY MONTH & YEAR 
May 2009
Lincoln Diaz-Balart - United States Congressman 5th - Congressman Diaz-Balart to join Hialeah Mayor Robaina and the U.S. Department of Commerce in Hosting a Small Business Administration (SBA) Services Fair on May 11 in Hialeah [En Espanol]
June 2008
Lincoln Diaz-Balart - United States Congressman 12th - Diaz-Balart Supports Extension of Unemployment Benefits
March 2008
Lincoln Diaz-Balart - United States Congressman 14th - DIAZ-BALART’S REMARKS TODAY ON THE FLOOR OF THE HOUSE URGING THE DEMOCRATIC LEADERSHIP TO STOP PREVENTING A VOTE ON THE FREE TRADE AGREEMENT WITH COLOMBIA [En Espanol]