Organization Urges Obama Administration to Create Policies that Instill Confidence in the Business Community
(Washington D.C., February 2, 2010) — National Association of Women Business Owners (NAWBO) President & CEO Helen Han and Public Policy Chair Kelly Scanlon issued the following joint statement in response to the job creation bills introduced last week in Congress:
In the wake of last month’s State of the Union address, in which President Obama called for a bill to facilitate job creation, several new pieces of legislation have been introduced that specifically target and encourage small businesses to hire.
The National Association of Women Business Owners welcomes the Obama Administration’s renewed emphasis on small business as the economic engine of the American economy and the bills’ focus on employer incentives to spur job growth. Specifically, with the emphasis on tying job creation to payroll tax incentives, the Administration is moving in a direction that NAWBO has previously spoken in favor of.
While NAWBO views these proposals as a positive step, we also remind the President and lawmakers that many business owners remain reluctant to hire when sales are anemic and uncertainty abounds with regard to other pending legislation that will impact businesses with higher taxes and regulations. NAWBO urges Congress to work quickly and in a bipartisan fashion to create policy that instills confidence in the business community. Pro-business policies, combined with incentives for job creation, will create an environment that gets the economy moving forward, encourages businesses to start putting Americans back to work, and allows small businesses the opportunity to grow.”
Key points of the legislation introduced last week include:
- The Hire Now Tax Cut Act of 2010, introduced by Senators Chuck Schumer (D-NY) and Orrin Hatch (R-Utah) on Wednesday, proposes to exempt employers from paying the employer’s portion of Social Security taxes on workers hired in 2010 who had been without full-time work for at least 60 days. In addition to the immediate benefit an exemption would provide over a tax credit (which employers would have to wait until 2011 to claim), this bi-partisan proposal allows for additional incentives the longer the employee is retained and does not rely on redirecting funds repaid through the Troubled Asset Relief Program (TARP).
- Another measure, The Small Business Job Creation Tax Act of 2010, introduced by Senators Bob Casey (D-PA), Kirsten Gillibrand (D-NY), Carl Levin (D-MI) and Mark Begich (D-AK), would provide a one-time tax credit to businesses that increase their payroll. Small businesses would receive a 20 percent credit, and businesses with 100 or more employees would be eligible for a 15 percent credit. A similar bill has been introduced in the House of Representatives by Rep. Carolyn Maloney (D-NY).
About NAWBO
Founded in 1975, NAWBO propels women entrepreneurs into economic, social and political spheres of power worldwide. More than 35 years later, NAWBO is still the only organization that solely represents the interest of women entrepreneurs in all industries. The organization's mission is to strengthen the wealth-creating capacity of its members and promote economic development; to create innovative and effective change in the business culture; to build strategic alliances, coalitions and affiliations; and to transform public policy and influence opinion makers. To learn more about NAWBO, visit www.nawbo.org
Media Contacts:
NAWBO Media Relations
Christina Jorgensen (ext. 103)
Lauren Astor (ext. 115)
Phone: (818) 772-9555
Email: media@nawbo.org
