DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Obama plans to give small business a boost

**duncanalisstmp** · 02-06-2011, 11:05 AM

LA Times: http://www.latimes.com/business/la-f...0,780788.story

Small businesses will get some continued tax breaks under the proposed budget that President Obama is planning to submit this month, the White House said. Also unveiled was a private-public initiative, led by AOL co-founder Steve Case, to help find funding for and otherwise support small business.

"Entrepreneurs embody the promise of America: the belief that if you have a good idea and are willing to work hard and see it through, you can succeed in this country," Obama said in a statement. "And in fulfilling this promise, entrepreneurs also play a critical role in expanding our economy and creating jobs."

The White House said Monday that its budget proposal would include the recommendation that a temporary tax cut for those who invest in small businesses be made permanent. Investors who put money into small businesses and hold on to the investments for at least five years would get a break in capital gains taxes after they sell.

The Case-led initiative, called the Startup America Partnership, has already begun bringing in large companies to help smaller ones through investments, education and mentoring. It also aims to help scientists develop products based on knowledge gained from federally funded research.

02-06-2011, 11:05 AM	#1
duncanalisstmp Join Date Oct 2005 Posts 396 Senior Member	Obama plans to give small business a boost LA Times: http://www.latimes.com/business/la-f...0,780788.story Small businesses will get some continued tax breaks under the proposed budget that President Obama is planning to submit this month, the White House said. Also unveiled was a private-public initiative, led by AOL co-founder Steve Case, to help find funding for and otherwise support small business. "Entrepreneurs embody the promise of America: the belief that if you have a good idea and are willing to work hard and see it through, you can succeed in this country," Obama said in a statement. "And in fulfilling this promise, entrepreneurs also play a critical role in expanding our economy and creating jobs." The White House said Monday that its budget proposal would include the recommendation that a temporary tax cut for those who invest in small businesses be made permanent. Investors who put money into small businesses and hold on to the investments for at least five years would get a break in capital gains taxes after they sell. The Case-led initiative, called the Startup America Partnership, has already begun bringing in large companies to help smaller ones through investments, education and mentoring. It also aims to help scientists develop products based on knowledge gained from federally funded research.
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