Cooper Praises Tax Cuts And Access To Capital For Small Business
Congressman Jim Cooper (TN-05) praised the passage of the Small Business Job Act (H.R.5297), which he voted for today. The bill provides much needed access to capital for millions of small businesses and offers 8 new tax incentives to companies so that they may expand, hire, and fuel our economy.
"In a tough economy, this bill will help businesses grow and hire more people," said Congressman Cooper "It will also encourage banks to start lending again."
The Small Business Jobs Act is expected to create 500,000 new jobs by encouraging the development of American small businesses. It also keeps jobs in America by closing tax loopholes that reward corporations that ship jobs overseas. It provides $12 billion in tax cuts to small business and will provide up to $300 billion in private sector lending for small businesses, along with state grants for small business lending. The bill is fully paid for and will not add to the deficit.