Congressman Cory Gardner (CO-04) is renewing his push for legislation that will help small businesses and grow the economy by re-introducing his Small Business Start-up Savings Accounts Act. The bill would allow people to create tax-deductible savings accounts to start or expand small businesses.
"Having grown up in a family owned business I have seen firsthand the challenges they face, like having to make payroll, build capital, and comply with a complex regulatory and tax system," Gardner said. "It is my hope that being able to setup a small business savings account will at least make it a little bit easier for entrepreneurs and small business owners to save money and build their company."
According to the Small Business Administration, 60 to 80 percent of all new jobs come from small businesses. Gardner believes that small business success and growth is key to our nation's economic recovery and future wellbeing. He is honored that his bill has received the support of the National Federation of Independent Business, the nation's largest small business group.
"NFIB thanks Rep. Cory Gardner for introducing the Small Business Startup Savings Accounts Act, which will help entrepreneurs and small business owners to plan for future business needs," said NFIB Colorado State Director Tony Gagliardi. "As a small business owner, Rep. Gardner knows first-hand the challenges entrepreneurs face in starting and running their own businesses. NFIB appreciates his keeping our nation's job creators - small business owners - as the focus of his legislation."
Gardner also introduced a similar piece of legislation in 2011.