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Report from the U.S. House Congressman
Travis Childers National Small Business Week Recognizing the contributions of small businesses to the economy This
week is National Small Business Week, a time when we recognize the
contributions of small businesses to the economic well-being of
America, and the special impact made by outstanding entrepreneurs and
small business owners. Small businesses are
major contributors to the strength of the American economy and to
Mississippi’s local economies. They create 60-80 percent of new jobs in
the country, as well as drive innovation, create 21st century jobs, and
increase U.S. competitiveness. Throughout
Mississippi, there are an estimated 209,100 small businesses, which
employ more than half of the state’s non-farm workforce. I’m
a small businessman myself, and I know how important keeping America’s
businesses competitive on a global scale is to creating and saving jobs
at home and rebuilding our economy. Last month, I was honored to
receive the U.S. Chamber of Commerce’s Spirit of Enterprise Award for
my pro-business record during the first session of the 111th Congress. Congress
has continued to vote on important legislation to support small
businesses during our second session. In March, I joined my colleagues
in passing the Small Business and Infrastructure Jobs Tax Act,
legislation to create jobs and spur investment in local infrastructure
projects. The bill includes bipartisan
provisions to help small businesses grow, hire, and continue to fuel
our economy. It also fully exempts investments in small businesses from
capital gains taxes, a measure included in the very first piece of
legislation I introduced since taking office, the Invest in Small
Business Act. The Small Business and Infrastructure Tax Act includes the following provisions: •
A 100 percent exclusion of small business capital gains to spur
investment in small businesses. (The American Recovery and Reinvestment
Act temporarily increased this exclusion to 75 percent). • Small business penalty relief endorsed by the Small Business Council. • An increase in the tax deduction for start-up expenditures to encourage the formation of new small businesses. The
House also voted this spring to continue lending assistance to small
businesses through a measure that would extend for another month the
Recovery Act small business lending program. The program eliminates
fees normally charged for loans through the Small Business
Administration (SBA). Since its creation, the program has supported
nearly $23 billion in small business lending, which helped to create or
save more than 560,000 jobs. For information
about resources to help small businesses grow and develop, visit the
“Small Business Resources” page on my website at www.childers.
house.gov. Let’s continue to recognize the contributions of small businesses, not just this week, but on a daily basis. I
will keep working hard to promote small business growth, provide
resources for small business start-ups, and support small businesses in
their efforts to create jobs and help uplift our local, state, and
national economies. As always, please continue
to keep me informed about your opinions and concerns by phone at (202)
225-4306 or by visiting my website.
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