Rep. Gene Green (TX-29) voted to spur economic growth and create 500,000 new jobs by encouraging the development of American small businesses. H.R. 5297, the Small Business Lending Fund Act, increases much-needed lending to millions of small businesses, and offers 8 new tax incentives to companies, so that they may expand, hire, and fuel our economy. It also keeps jobs in America by closing tax loopholes that reward corporations that ship jobs overseas.
"Small businesses are the foundation of our economy and are an integral part of creating jobs and rebuilding the economy for the future," said Rep. Green. "We owe it to them to ensure that they have a business environment in this country that helps them grow and flourish. Increased access to capital and new tax cuts will not only keep jobs in America, it will allow small businesses to make it in America."
The Small Business Jobs Act will help America's 27 million small businesses create new jobs and grow with $12 billion in tax cuts. It will make Main Street businesses more competitive with big corporations by leveraging up to $300 billion in private sector lending for small businesses, along with state grants for small business lending. With tax cuts and access to more capital, our nation's small businesses will be able to put more Americans back to work. The Small Business Lending Fund Act takes another step to end job outsourcing by ending tax incentives for companies that ship jobs overseas. Finally, this bill is fully paid for and will not add to the deficit.
"Today we passed a bill that moves the small businesses of our area forward. I know that the businesses and people of our area are still hurting," continued Rep. Green. "This bill will assist them in main street job creation, despite almost unanimous Republican opposition."
In fact, in the same day that Congressional Republicans stood at a small business in Virginia to introduce their new agenda that calls for tax breaks for America's small businesses, they came back to Washington to vote against tax breaks for small businesses. This bring a Republican "no' vote to 15 of the 16 tax breaks for small businesses that this Congress has enacted.