FAA Air Transportation Modernization and Safety Improvement Act

Floor Speech

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Ms. STABENOW. Mr. President, we all know that small business is the engine of the economy. This amendment will address a burdensome regulation we have all talked about. We need to repeal an unnecessary, burdensome provision in the law that would require 40 million businesses in America, most of them small businesses, to file 2,000 percent more paperwork with the IRS. We have a chance to do something about that with this amendment.

I wish to thank Senator Baucus and his staff for their work. I wish to thank Senator Johanns for his work and my colleagues who are cosponsoring this amendment. I also wish to thank the 11 business organizations supporting this, including the Chamber, the Farm Bureau, the Motor & Equipment Manufacturers Association, the National Association of Manufacturers, Realtors, NFIB, the Small Business & Entrepreneurship Council.

This is an amendment that is fully paid for without raising taxes, while it protects our Nation's defense, our veterans, and our Social Security. So I would hope we would all join in supporting this effort to make a needed change that eliminates burdensome paperwork for our small businesses.

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