President Obama just signed the Small Business Jobs Act into law — providing immediate incentives for businesses to make new investments, expand, and hire new employees.
Starting today, millions of small business owners will be eligible for up to eight new tax cuts, and within weeks, thousands of businesses will finally have access to the credit they desperately need.
The bill also includes key provisions the President has fought for since the beginning of this year:
— Small businesses receive a tax write-off on the first $500,000 of new equipment investments;
— More than a million eligible small businesses will be able to make key long-term investments that are subject to zero capital gains taxes;
— Entrepreneurs who take a chance on a new idea can deduct the first $10,000 of start-up costs; and
— The self-employed can deduct 100 percent of the cost of health insurance for themselves and their families from self-employment taxes.
You can read more about the legislation here, on the White House’s website.
This legislation is an important part of President Obama’s and the Democrats’ plan to move our economy forward — and it reinforces the crucial choice facing voters in the upcoming election.
Will you forward this email to the small business owners you know to help spread the word about the change we’re making?
Last week, Republicans chose to unveil their “Pledge to America” at the site of the small business Tart Lumber Company in Sterling, Virginia.
Although their pledge mentions small businesses 18 times, it took less than five hours for congressional Republicans to return to the Capitol to vote against this relief for small businesses.
During this difficult time, it’s critical that we continue to fight for every American job, every American small business, and every chance to boost America’s economy.
Instead, Republicans have shown they’re comfortable putting partisan politics ahead of hard-working families and businesses — even those, like Tart Lumber, that they happily use for political grandstanding.
It’s wrong. But we’re proving once again that, together, we can defeat partisan obstructionism, and today we celebrate a great victory for America’s small businesses.
Thanks for all you do,
Mitch
Mitch Stewart
Director
Organizing for America
P.S. — Have questions about the bill? This Wednesday, September 29th, at 2:00 p.m. Eastern Time, the White House and OPEN Forum are holding a live Q&A on the impact of this and similar legislation on small businesses. Tune in Wednesday at this link: http://www.openforum.com/whitehouse
Be a Seed for Change 
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