Working for Small Business

As a former member of the Small Business Committee in the House of Representatives, I know that small businesses are the backbone of our country. That is why I am working hard in Congress to provide critical financial support to small businesses, by opening the federal contracting system and increasing access to capital to help create new opportunities, grow existing businesses, and boost our economy.

• Maximum funding for the Small Business Administration - For the past two years, the Administration has gutted the budget for the Small Business Administration. I have been working hard to restore it, so that critical loan programs like the 7(a) loan program, 504 loan program, and the MicroLoan program are available to support the engine of America’s economy: small businesses.
• Help open the federal contracting system to small businesses - The $295 billion federal marketplace remains largely closed to small businesses. I want to level the playing field, making sure everyone has a fair shot at winning federal contracts.
• Making taxes simple - During tax season, small businesses shouldn’t be overly burdened with the stress of filing their taxes. This is why I am a strong supporter and cosponsor of the Taking Care of Small Business Tax Simplification Act of 2005 (HR 3629). This bill extends the deadline for filing certain types of business taxes and allows more flexibility with payroll taxes. In addition, this bill would make it easier for married couples who operate certain joint ventures to file separate tax returns.
• Increasing capital to small business owners - Small business owners need greater access to capital to expand or pursue business ventures. Ultimately, this will help bolster the economy and provide new jobs. That’s why I introduced legislation to increase the maximum amount under the MicroLoan program from $35,000 to $50,000 (H.R. 194).
• Improving Access to Fair Loans - I know that fair loans are critical to expanding or starting a small business. That is why I am a co-sponsor of the Small Business Access to Capital Act of 2005 (H.R. 1868). This bill would reduce loan guarantee fees for small business borrowers and lenders and permit guaranteed and non-guaranteed loan combination financing. In addition, it would increase maximum guaranteed and gross loan amounts.
• Access to Health Insurance Options - Working for a small business shouldn’t mean you don’t have access to quality health insurance options. That is why I am a co-sponsor of the Small Business Health Insurance Promotion Act of 2005 (H.R. 2073). This bill would make small employers eligible for a business tax credit equal to 50 percent of the amount paid for health care coverage. It also permits several small businesses to pool together to give their employees more health insurance options.