The Las Vegas Chamber of Commerce is calling on Members of Congress to quickly pass the Small Business Jobs Act*. The bill, if passed, would give small businesses greater access to capital and create incentives for investments. The purpose of the bill is to create the Small Business Lending Fund Program which will increase the availability of credit for small businesses, and to provide tax incentives for small business job creation and other business investments.
Highlights of the bill include:
• Establishment of the State Small Business Credit Initiative to allocate federal funds through participating states or municipalities
• Exclusion of 100 percent of small business capital gains
• Allows general business credit carried back five years and credit not subject to Alternative Minimum Tax (AMT)
• Increases Small Business Administration loan limits
• Increases expensing and expansion of certain real property and extends bonus depreciation
• Increases deduction for start-up expenditures
• Improves small business contracting
• Promotes small business exports and enhances small business trade opportunities
“Small businesses need more help to get back on their feet, and they need it as quickly as possible,” says Matt Crosson, president and CEO of the Las Vegas Chamber of Commerce.
“The Small Business Jobs Act will give entrepreneurs valuable assistance and strong, tangible incentives that can help spur business investment and job growth that are essential to economic recovery.”
For more information, visit www.lvchamber.com.
*As of press time on July 27, the vote was still pending before the U.S. Senate. The Chamber will update members on new developments via Advocacy in Action.
