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DC Report: The President and his Proposals

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  • Description

    President Obama's State of the Union address and how it impacts small business

  • Duration 1:52
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Ministers.

In his State of the Union Address President Obama promised more tax breaks and less government regulation and to help small companies -- and boost job creation.

-- down regulations that prevent aspiring.

Entrepreneur -- from getting the financing to grow.

Expand.

The small businesses that are raising wages and creating good jobs.

Both parties agree on these ideas.

So put them -- a bill and get it on my desk this year.

Among other things the president proposed extending tax breaks that allow companies to write off a 100% of their investments in new plant and equipment in one year.

Rather than over many years it's a four billion dollar proposal.

He also wants congress to approve five billion dollars in new tax credits for clean energy manufacturing.

As well as six billion dollars in new tax credits for manufacturers that open operations in communities that have suffered major job losses.

He also proposed hundreds of billions of dollars more an infrastructure spending over the next decade.

We've got crumbling roads and bridges.

Power grid that wastes too much energy.

And incomplete high speed broadband network the prevents -- small business owner and rural America from selling her products all over the world.

But critics said the president's proposal to impose a minimum tax rate of 30%.

On people who earn more than a million dollars a year.

Could hurt some entrepreneur -- and limit new hiring.

That's it for this edition of the small business report I'm Peter Barnes Fox Business Network.

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