By Emily Maltby; Wall Street Journal
Small businesses, known for jump-starting economies, aren't upholding their reputation.
During past recessions, small firms have been the forerunners in hiring and growth, and the harbingers of recovery. But this time, they are holding back, seemingly more than large companies.
The reservation appears to stem from a general uncertainty—felt by… Read more »
By Jay Heflin; The Hill
Sen. Olympia Snowe (R-Maine), the Small Business Committee's ranking member, on Wednesday expressed outrage over the Small Business Administration (SBA) failing to submit comments to the Treasury Department on the new rule beginning in 2012 that requires businesses and organizations submit a form 1099 to the Internal Revenue Service (IRS) for purchases over… Read more »
By Jeff Cornwall; Christian Science Monitor
I give a talk to various business groups titled "The Future of Small Business in America".
When I gave this talk a few years ago it had a very happy ending. I talked about the robust entrepreneurial economy and how bright the future is for young entrepreneurs. It also included some warnings about factors that were inhibiting entrepreneurs… Read more »
By Rep. Bill Cassidy; Politico
President Barack Obama again talked about small businesses last week. “Government can’t create jobs to replace the millions that we lost in the recession,” the president said at the White House, “but it can create the conditions for small businesses to hire more people, through steps like tax breaks.”
He’s right. But it is hard to reconcile the… Read more »
By Jay Heflin; The Hill
House Small Business Committee ranking member Sam Graves (R-Mo.) on Tuesday sent a follow-up letter to Internal Revenue Service (IRS) Commissioner Doug Shulman asking how he plans to implement the 1099 reporting rule included in the new healthcare law that requires businesses and organizations to report all purchases above $600 to the IRS.
Graves sent a… Read more »
By Richard Cohen; Politico
House Minority Leader John Boehner today delivered scathing criticism of House operations and promised major congressional reforms if he becomes speaker following the November election.
“The House finds itself in a state of emergency. The institution does not function, does not deliberate and seems incapable of acting on the will of the people. From the… Read more »
By Larry Kudlow; National Review
President Obama is crowing about his small-business bill, signed into law on Monday. “It was critical that we cut taxes and made more loans available to entrepreneurs,” he said. Trouble is, small businesses and community banks don’t want Obama’s $30 billion program. That’s right. They don’t want it.
An AP story quotes community bankers who do not want… Read more »
By Nicole Crain and W. Mark Crain; Wall Street Journal
The annual cost of federal regulations in the United States increased to more than $1.75 trillion in 2008, a 3% real increase over five years, to about 14% of U.S. national income. This cost is in addition to the federal tax burden of 21%, for a combined cost of 35% of national income. One out of every three dollars earned in the… Read more »
By; Washington Times Editorial
An 18-month recession came to an official end in June 2009, according to a study released last week by the National Bureau of Economic Research. For good reason, few in the public believe it's over. With the economy stuck in neutral and unemployment locked at 9.6 percent, most see no choice but to keep cutting back because the future looks no brighter.… Read more »
By Ken Newton; St. Joseph News Press
Congressional Democrats and the White House hailed passage Thursday of a bill meant to increase lending opportunities for small businesses. Republicans called it Bailout Redux.
The U.S. House approved the Small Business Lending Fund Act by a vote of 237 to 187. Only one Republican, Rep. Walter B. Jones of North Carolina, sided with the… Read more »
