Davis Votes For Small Business Jobs Bill
Today Congressman Lincoln Davis supported legislation that dramatically expands the amount of capital available for struggling small businesses.
H.R. 5297, the Small Business Jobs Act creates a small business lending fund that encourages local banks to make loans to small businesses, and also contains numerous tax incentives for businesses, including an extension of the "bonus depreciation" which allows business to immediately write-off 50 percent of the cost of capital expenditures.
"As I've travelled the Fourth Congressional District, more and more entrepreneurs tell me about the hurdles they face when trying to start or expand their small businesses," said Rep. Davis. "Expanding capital so banks can make the loans that are so critical to small business is exactly the kind of job creating legislation that will remove the obstacles standing in the way of our nation's small business owners."
The Small Business Jobs Act passed the House of Representatives on Tuesday afternoon, sending it to the president for his signature.