By Jay Heflin - 07/14/10 01:36 PM EDT
"Congress and the administration give a lot of lip service to small business in regards to rebuilding the economy," she said in prepared remarks. "But here are two key proposals that would make a tangible difference in their bottom line. For a one- to two-person company, small tax benefits turn into real cash that can actually facilitate business growth."
The small-business bill creates a $30 billion lending pool and provides approximately $12 billion in tax relief.
Arsian noted that the bill's tax provisions that increase the deduction for startup expenses and allow for greater Section 179 expensing will be particularly valuable to the self-employed beginning a new venture or expanding an existing business. Increases in small-business lending will also be extremely valuable.
Democratic leaders at both ends of Pennsylvania Avenue believe passing the bill will bolster the political argument that Democrats support small businesses while Republicans protect the interests of Wall Street.
So far, it looks like Senate Majority Leader Harry Reid (D-Nev.) has the votes he needs to pass the bill.