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in this issue SBDC News & Information SBDC Helps Researcher Gain $3.5 Million to Develop Power Packs Consultant Profile: George Boehm How to Thrive in an Economic Downturn Results of SBDC’s Defense Assistance Felt Ten Years Later Food Businesses Require Prep Time to Succeed Steps to Start a Specialty Food Business Congress Working on Improvements to Small Business Innovation Research Bill Educational Programs |
SPECIAL ISSUE: Presidential Candidates Forum
By Senator John McCain Small business is the backbone of our economy, the heart of job creation and a path to success for Americans of every background. As such, it’s vitally important for our next president to institute policies that will give small businesses what they need to prosper in tough economic times. If I am elected president, I will act quickly and decisively to promote growth and opportunity. While my opponent would institute massive tax increases at great cost to small businesses and individuals alike, I propose instead to keep the top tax rate at 35 percent, to maintain the 15 percent rates on dividends and capital gains, to reduce the corporate tax rate to 25 percent from 35 percent, and to phase out the Alternative Minimum Tax. I’ll establish a permanent tax credit equal to 10 percent of wages spent on research and development. I’ll also allow first-year deduction, or “expensing,” of equipment and technology investments. Beyond taxes, small businesses are impeded by high energy prices, rising health care costs and foreign trade barriers. |
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So I’ll address gas prices by increasing domestic production and developments of oil alternatives. I’ll reform the health-care system to make health insurance more affordable to every American with a large tax credit for portable and affordable coverage, while allowing those who want to keep employer-based insurance to do so. And I’ll work to break down those trade barriers because small businesses have made up close to 97 percent of all identified exporters in the past few years. In the past few months, I have met with small business leaders across America to discuss how my “Jobs for
America” plan will help them overcome the economic challenges they face. I promise I will look out for their interests
as president, because small business is the engine that drives the American economy.
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By Senator Barack Obama Americans can’t afford four more years of failed Bush economic policies. We’ve seen wages decrease, jobs go overseas, and skyrocketing gas and oil prices. This election presents us with a choice: four more years of failed Bush economic policies from John McCain, or real change that keeps jobs at home and puts money back in the pockets of middle class families. As small business owners, you know that small businesses are the cornerstone of the local economy in Pennsylvania. I will invest in our small business owners and grow small businesses in Pennsylvania and across the country. First, I will cut taxes on small businesses. I will eliminate all capital gains taxes on investments in small businesses to encourage job creation. I will provide a $500 “Making Work Pay” tax credit to 95 percent of American workers, including 6,500,000 Pennsylvania workers and small business owners who file individual tax returns. Contrary to false attacks by the McCain campaign, I won’t raise taxes on small businesses – I’ll cut them. I will also offer a new Health Tax Credit of up to 50% on premiums paid by small businesses on behalf of their employees. To be eligible, small businesses will have to offer quality health care to their employees and cover a meaningful share of employee premiums. And I will help small businesses to compete for, and win, government contracts by restoring Small Business Administration funding for venture capital investment and business loans. When it comes to America’s small businesses, John McCain has embraced George Bush and failed to provide meaningful relief to small business owners. In 2005, he voted against health care tax credits and an immediate stimulus for businesses. For Pennsylvania’s small businesses, the stakes are high. My record of standing up for America’s small businesses and my
comprehensive plan to grow our small businesses and give them what they need to succeed will bring the kind of change our
economy and our working families need.
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