Mr. SWALWELL of California. This week marks the 50th annual National Small Business Week, where we recognize the importance of the entrepreneurs and small business owners who work hard to fulfill the promise of the American Dream.
I saw this firsthand as a Dublin planning commissioner and, later, as a city council member, which is that, when small businesses get off the ground and succeed, the entire community around them benefits and our economy grows. In fact, more than one half of all Americans either own or work for a small business, and they account for about two out of every three new jobs created every year.
This Saturday, I went from storefront to storefront in downtown Hayward to speak to local small business owners in my congressional district. To help address the problems that I heard about--not having enough capital to start up or not having enough business-to-business transactions or foot traffic--I introduced the Main Street Revival Act. My bill will allow certain small businesses to elect to defer paying Federal payroll taxes in the first year of operation in order to help offset their costs.
Small businesses form the backbone of our communities--opening new storefronts, training American workers and selling goods in our neighborhoods. It's through supporting them that we expand economic opportunity and help make the American Dream a reality.