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Today Republicans unveiled their agenda to go back to the failed economic policies that led to the deepest recession in generations. Just as we expected, the focus is on help for the wealthy over the middle class and big corporations over small businesses. A rundown of the Real Republican Agenda:
- The Small Business Tax Relief Act, would have strengthened our economy in two ways: reducing the paperwork burden on small businesses, leaving them more time and resources to invest in job creation; and ending the tax loopholes that encourage large multinational corporations to ship jobs overseas.
- Small Business Jobs and Credit Act, which boosts lending to small businesses by investing capital in community and smaller banks under terms that become more favorable to participating banks as they increase their total loans to small businesses
- Small Business and Infrastructure Jobs Tax Act allows a 100% exclusion from gross income of gain from the sale of qualified small business stock acquired after March 15, 2010, and before January 1, 2012 and increases the tax deduction for business start-up expenditures in 2010 and 2011
- Hiring Incentives to Restore Employment (HIRE) Act provides tax incentives for hiring new employees that were previously unemployed and extends the Recovery Act provision that would allow small businesses to write-off capital expenditures up to $250,000
- FY 2010 Appropriations increases funding to revitalize the SBA after eight years of Bush-era budget cuts and provides $28 billion in new SBA lending