Loebsack helping push small business bill - KWWL - Eastern Iowa Breaking News, Weather, Closings

Loebsack helping push small business bill

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WASHINGTON, D.C. (KWWL)-- A new bill designed to spur economic growth and create new jobs by encouraging the development and strengthening of small businesses could soon become law.

The Small Business Jobs Act increases much-needed lending to millions of small businesses, and offers 8 new tax incentives to companies so that they may expand, hire, and fuel the economy. It also keeps jobs in America by closing tax loopholes that reward corporations that ship jobs overseas.

"Small businesses are the key drivers of our economy," said Congressman Dave Loebsack. "Each weekend when I come home, I visit Iowa businesses and ask them what they need, and they all say the same thing – low taxes and access to credit. This bill does just that. Increased access to capital and new tax cuts will not only keep jobs in America, it will allow small businesses to make it in America."

The Small Business Jobs Act will help Iowa's 259,671 small businesses create new jobs and grow with tax cuts. It will make Main Street businesses more competitive with big corporations by leveraging private sector lending for small businesses, along with state grants for small business lending.

The bill is now on its way to President Obama's desk for signature. It has been endorsed by the U.S. Chamber of Commerce, National Small Business Association, and National Restaurant Association, among many others.

 

 

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