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(Washington D.C.)- Ways and Means Committee Chairman Sander M. Levin (D-MI) today unveiled a discussion draft of the Small Business and Infrastructure Jobs Tax Act, legislation to provide tax relief to small businesses and extend effective financing measures to create jobs and improve America’s cities and towns.
“The Ways and Means Committee is acutely focused on legislation that will help spur job growth in our communities,” said Ways and Means Committee Chairman Sander M. Levin (D-MI). “Small businesses are an important engine of our economy and this bill combines a number of proposals to help them grow and free up resources to hire new workers. This bill also extends effective financing measures like the Build America and Recovery Zone Bonds so that they can continue creating new jobs while making critical improvements to our communities.”
The Committee on Ways and Means is expected to consider the legislation on Wednesday.
Highlights of the Small Business and Infrastructure Jobs Tax Act include:
• Extension of successful Build America Bonds (BABs)
• 100 percent exclusion of small business capital gains
• Small business penalty relief
• Increase in deduction for start-up expenditures
Please click here for a detailed summary of provisions included in the draft.
Please click here for text of the discussion draft.
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