Switchfast Blog: The Future of IT
Small Business Jobs Act: Will It Help?
Friday, September 17, 2010 by Bryan Anderson
The U.S. Senate heavily debated the Small Business Jobs Act
since returning from their month-long break. The bill was
passed by the senate yesterday with the help of two republicans who
voted for it. The bill will be sent back to the House, where
it will likely be accepted, and then sent to the President's desk
for his approval. The purpose of the bill is to promote
growth for small businesses, allowing them to expand and hire new
employees. Will this bill help the U.S. small businesses get
back on the road to success?
Small businesses have been the backbone of America, and are
responsible for creating 2/3 of new jobs in the past and
present. The bill will give small businesses $12 billion in
tax cuts, create 500,000 new jobs, and promote small business
lending from banks. The
White House has been very optimistic towards the bill,
detailing an account of how a small business has prospered because
of a Small Business Administration loan awarded to them. Many
small business organizations such as the American Sustainable
Business Council and the Small Business Majority also support the
bill along with many small business owners throughout the
nation. People on the left and right of the political
spectrum can agree action needs to be taken to help the small
businesses survive and grow.
In addition to full Democratic support, two republican senators,
George Voinovich (R-Ohio) and George LeMieux (R-Fla.), were the key
ingredients in getting the bill passed in the senate after months
of it being debated from both sides. Voinovich realizes the
importance of seeing the economy improve and stated "I felt we
could no longer wait to pass this legislation. We needed to do
something now to help the economy get going."
It's no surprise to anyone that, for several years now, the
economy has been struggling. Big corporations have not helped
in the creation new jobs, as much of the time they continue to
outsource their workforce to foreign countries while cutting
employment on the home front. Increased pressure has fallen
on small businesses to keep their workers on staff and keep their
manufacturing efforts on American soil. This bill is designed
to give the small businesses tax breaks and provide the
"kick-start" they have been in dire need of, but some worry that it
does not do enough.
One thing is certain; we want the economy to improve. We
want small businesses to prosper and be able to compete in this
economy. The proposed bill sounds like a way to provide a
modicum of support and give them a fighting chance. Skeptics and
optimists will continue to make predictions, but sitting idly will
unlikely fix the situation, and hopefully we can see improvements
in the economic status soon. We are interested in the
outcome. Are you?.
Until next time -
Bryan Anderson
Switchfast Technologies
Chicago IT Support &
Consulting
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