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Public Statements

Small Business Jobs Tax Relief Act of 2010

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Date:
Location: Washington, DC

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Mr. ANDREWS. I thank the chairman for yielding.

Mr. Speaker, it is axiomatic in American politics and on this floor that Members come to the floor and praise small business to the heights. People frequently cite statistics which state that small businesses create most of the new private-sector jobs. They're right. They praise small business men and business women, and they are right to praise them. Though, I think, after all the words, it is time that we took some action that actually benefits small business people in the country. This bill provides such action.

It provides access to credit for small businesses which desperately need it. I think Americans are frustrated--and small business people share in the frustration--that, after advancing hundreds of billions of dollars to banks, many of those dollars haven't seemed to find their way into loans to small businesses. The underlying bill begins to address that problem in a very significant way. It extends a practice that this chairman and his predecessor began of extending tax cuts to small businesses. A small business that buys a laptop or a truck or some other piece of equipment can expense that. Businesses can, in effect, cut their taxes by investing their businesses in the economy.

Then we have the ironic statement by the minority leader that, in order to help small businesses, he wants to repeal a law that helps small businesses, for the first time, buy health care. What the new health care law says is that a person running a small software company or a restaurant or a delicatessen should be able to buy health insurance with the same volume discount that Lockheed Martin or General Electric gets. Small business people have been asking for that opportunity for a very long time. The law the President signed provides that.

It is very important to understand that, with all due respect, the minority leader did not correctly state the impact of the bill on small business, so let the record correctly reflect the state of the new law.

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Mr. ANDREWS. If a small business person has 50 or fewer full-time employees, there is no mandate on that business to do anything. Businesses which choose to provide health insurance to their employees will have the same abilities that huge companies have to buy health insurance at a discount if they choose. Companies with fewer than 50 full-time employees don't have to do anything. Many of the small businesses which do choose to insure their employees will get significant tax cuts to help them do that.

After all of these words, isn't it time we had some loans for small business? Isn't it time we had some tax cuts for small business and some affordable health care for small business? If you want words, take the minority's approach. If you want action, support this bill.

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