Sag Harbor

In a recent business week conference President Bush had a lot of positive things to say about small businesses in the United States. According to Bush 2 out of every 3 jobs are small business jobs. This reduced the un-employment rate to 4.7%, well below that of the 70’s, 80’s and 90’s. Furthermore Bush stated that this positive influx in jobs will allow for more employment opportunities for both women and minorities. During his conference he also spoke about tax cuts he has made for tax payers and small business owners. For more info on the whole conference see link below.

Keeping Taxes Low And Spending Tax Dollars Wisely

The President Has Lowered Taxes For Everyone Who Pays Income Taxes. The President’s tax relief has helped workers keep more of their paychecks; helped families by lowering rates and doubling the child credit; reduced the marriage penalty; and put the death tax on the road to extinction.

The President Also Cut Taxes On Small Businesses. Whether as sole proprietorships, limited partnerships, or subchapter S corporations, most small businesses pay taxes at the individual income tax rate. By reducing the tax rates on individuals, taxes on small businesses were cut - increasing the amount of capital available to hire new workers and expand businesses. The President also increased investment expensing tax provisions and proposed more in the 2007 budget to help small businesses grow and create more jobs.

To Keep The Small Business Sector Strong And Creating Jobs, Congress Needs To Make Tax Relief Permanent. Congress can start by sending the President a bill extending the tax cuts on dividends and capital gains - so that businesses can plan with confidence and keep creating jobs.

TheWhiteHouse.Gov