Issue Position: Small Businesses

Issue Position

I am going to be a strong advocate for small business. As a former small business owner for over three decades, I know how hard it is to succeed in these difficult times. That's why I am going to fight to ease regulations and provide tax incentives that are now reserved for the biggest corporations in the world.

Tax Credits to Small Businesses That Hire New Employees

Small businesses are the real engine of economic growth in Illinois. In fact over the last few years small businesses created more than three times as many new jobs in Illinois as large firms did. It is often noted that in the tax code one taxes what they want to discourage. Despite this fact, too often we give massive tax breaks to large companies without helping out the small businesses that really create jobs. We should reduce or eliminate the payroll taxes an employer has to pay for the first year on any new hire.

Getting Our Fair Share of Research Grants

Every year the federal government sets aside more than $2 billion in R&D dollars specifically as grants for small business through the Small Business Innovation Research grant program (SBIR) and the Small Business Technology Transfer program (STTR). These grants spur innovation and often lead to profitable private companies that create jobs. In addition they provide needed new technology to government. Illinois ranks 17th in these grants. In Congress I will work to make sure that we earn our fair share.

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