As we continue our work to rebuild our economy during this downturn, it is clear that our local small business owners and entrepreneurs are central to the job creation that will lead to economic recovery. Small businesses create 60 to 80 percent of new jobs in this country. Yet, small businesses continue to face challenges to access the credit they need to start or expand operations.

To help small businesses obtain much needed capital, the economic recovery package enacted this year includes important provisions to generate new lending and investing. The law reduces lending fees, creates a new program at the Small Business Administration (SBA) that allows small firms to get a $35,000 interest-free loan, and increases to 90 percent the amount of a guaranteed, SBA-backed loan. The law also creates a number of tax incentives, such as one that allows small businesses to write off up to $250,000 of qualified investment in 2009. Additionally, small businesses can take advantage of loans offered by the New Jersey Economic Development Authority.

Small businesses can also benefit from the law’s significant innovation investment, of which I have previously written. I am working to ensure that high-tech small businesses in New Jersey take advantage of research grant funding at the National Institutes of Health and the National Science Foundation.

Stars and Stripes Forever

Since the American flag first inspired Francis Scott Key to pen the lyrics to the “Star-Spangled Banner” during the War of 1812, through Joe Rosenthal’s iconic image of Marines hoisting the flag at Iwo Jima, the American flag has served to remind us of the values that our country was founded upon and those that we have fought to defend.  I can help you acquire, at cost, a flag that has been flown over the United States Capitol.  A flag can be flown for a special occasion such as Flag Day, an anniversary, in honor of a parent or friend or member of the armed services, or for any other reason you choose.  One of my constituents recently purchased a flag for her oldest grandson’s graduation, and a number of people purchase them for veterans.  Click here to order a flag.  I can also provide a copy of “Our Flag” – a government-printed book that details the history of the flag and describes the practices and observances appropriate to its display. Contact me if you would like to receive a free copy.

Monday’s Telephone Town Hall

On Monday, I hosted a telephone town hall meeting with Central New Jersey residents, where we discussed the numerous challenges facing our country, including the economy, health care, and wars in Afghanistan and Iraq. If you missed it, you can listen to a recording of it here. Town hall participants also voted in an interactive poll about the economy. If you missed the telephone town hall, you can vote on this poll on the right side of this newsletter.

I will keep you up-to-date, in this space, on future in person and telephone town hall meetings.

Sincerely,

RUSH HOLT
Member of Congress

P.S. Just a reminder: I always want to hear from you, but please don’t reply to this e-mail.  Instead, please email me through my website at www.holt.house.gov, or call me at 1-87-RUSH-HOLT (1-877-874-4658) to let me know what's on your mind.  Please also note that you may unsubscribe from this list by clicking on the "unsubscribe" link at the bottom of this email.