Dearborn, MI – Congressman John D. Dingell (D-MI15) strongly supports creating American jobs by investing in small businesses and rebuilding our crumbling infrastructure.  The Small Business and Infrastructure Jobs Act, sponsored by Mr. Dingell’s friend and colleague Ways and Means Committee Chairman Sander Levin (D-MI12), will create new small business and construction jobs, spur private sector investment and hiring, and help rebuild infrastructure across the country.  It is another important part of a larger Congressional agenda to create jobs and strengthen our economy.  The House passed the bill, 246-178.  The Congressman made the following remarks about the bill.

“The Small Business and Infrastructure Jobs Tax Act contains several small business tax provisions to spur investment, such as excluding capital gains taxes for those that purchase stock in small businesses, providing relief from burdensome tax penalties, and increasing the amount that can be deducted for expenditures made for starting a small business. 

“I am also pleased to see that this legislation emphasizes the job creation potential through local rebuilding.  By extending the Build America Bonds program, state and local governments will be able to continue rebuilding our schools, hospitals and transit in an affordable manner.  More importantly, extending this program through 2013 would allow our state and local governments to plan further into the future the necessary rebuilding projects.  The Small Business and Infrastructure Jobs Tax Act also extends the Recovery Zone bonds for economically distressed areas through 2011, which will ensure areas like Southeast Michigan, now struggling with over 16 percent unemployment, can continue to invest in infrastructure projects, job training programs, education and economic development in our communities. 

“In addition, this legislation extends the Temporary Assistance for Needy Families Emergency Contingency Fund.  This fund was created in the American Recovery and Reinvestment Act to help States handle increasing expenditures on assistance for families and to help create jobs programs that subsidizes employers or small businesses that hire unemployed workers.  With the Fund already helping to employ 160,000 workers, this one-year extension will allow this good work to continue. 

"Finally, the bill will help to save American jobs by cracking down on foreign tax haven corporations that are taking advantage of the U.S. tax treaty network to dodge paying taxes and gain an advantage over American companies that play by the rules.”

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