Washington, D.C., July 16th - Dear Friends: Earlier this week, the Obama Administration released a report claiming that the trillion-dollar stimulus has “saved or created” between 2.5 and 3.6 million jobs since it was signed into law in February of 2009.  However, this report belies the fact that the unemployment rate has risen from 7.6 percent to nearly 10 percent in that time period,… Read more »

By Gene Marks; Bloomberg Business Week I don't have much in common with my friend Rob. Rob (I'm changing his name here so he won't yell at me) owns a 60-employee roofing company near me in Oreland, Pa. I run a 10-person information technology consulting firm. Rob has tattoos snaking up both of his arms. I have a mosquito bite on my left shin. Rob spends his days outside, in all… Read more »

By Tom Barkley; Wall Street Journal Federal Reserve Chairman Ben Bernanke urged banks and regulators Monday to seek out ways to ensure that small businesses get the credit they need to create jobs. “Making credit accessible to sound small businesses is crucial to our economic recovery and so should be front and center among our current policy challenges,” Bernanke said in prepared… Read more »

By Jay Heflin; The Hill National Taxpayer Advocate Pam Olson on Wednesday raised concern in a report to Congress about requiring businesses to document most of its purchases to the IRS. To improve tax compliance, the recently enacted health reform bill mandates purchases of $600 or more by businesses, tax-exempt organizations, or federal, state and local governments be submitted to… Read more »

By Ken Newton; St. Joe News Press President Obama said it would "put an end to the idea that any financial firm is too big to fail." Northwest Missouri Congressman Sam Graves countered that it ignores the voice of the entrepreneur. The comments marked the range of sentiments expressed after the U.S. House approved financial reform legislation on Wednesday. The chamber passed the Wall… Read more »

By Diane Stafford; Kansas City Star The argument over whether more government stimulus is needed to spark the economy intensified Friday with an anemic jobs report. While the unemployment rate fell to 9.5 percent in June from 9.7 percent in May, the decline occurred not because employers added jobs but because a huge number of workers — 650,000 — dropped out of the labor force.… Read more »

Friends: This week, the House Small Business Committee held a hearing with Kenneth Feinberg, Administrator of the $20 billion BP Deepwater Horizon Disaster Victim Compensation Fund.  For small business owners who have seen customers disappear in the wake of the spill, time truly is of the essence when it comes to getting the capital they need to keep their business afloat.  Although Mr.… Read more »

By; USA Today/Bloomberg News The director who'll disperse $20 billion to victims of BP's oil spill warned Wednesday that companies hurt because tourists have stayed away from the Gulf region may not be eligible for reimbursement. Kenneth Feinberg, whom President Obama appointed to handle claims, told the House Small Business Committee in Washington that determining whether to pay… Read more »

Friends: This week marked the three month anniversary of the controversial new health care law.  This law is expected to raise health insurance premiums, create new hurdles for employers, and hike taxes for business owners. Small business owners nationwide are particularly worried about the 1099 reporting requirement in the new law.  This mandate will require every business to file a 1099… Read more »

Dear Friends: This week, the House considered legislation (H.R. 5297) to create a $30 billion fund for smaller financial institutions to encourage small business lending.  Although the issue of access to capital for small businesses is critical, this legislation does not include any requirements that banks actually use the money to lend to small businesses.  I opposed the bill because it… Read more »