This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

A Look At Small Business Legislation In Congress

By The Associated Press

Small business bills and proposals introduced in the first two months of the 113th Congress aren't the sweeping legislation seen in recent years â¿¿ like last year's Jumpstart Our Business Startups Act â¿¿ a law that aimed to give companies new ways to get investment money.

With the exception of a House proposal to change tax laws that affect small business, lawmakers have been targeting relatively narrow issues. That's because Congress is preoccupied with the federal budget deficit, and is avoiding legislation that would add to it, says Todd McCracken, CEO of the National Small Business Association, a lobbying group.

"They're focused on things that don't cost money. It seems like they're nibbling around the margins a little," McCracken says.

Some of the new bills are reintroductions of legislation that died in the last Congress, or are revisions of existing laws.

Here is a look at some of the legislation that would affect small business:

SMALL BUSINESS TAXES

The House Ways and Means Committee has put together a bipartisan draft of tax proposals aimed at helping small businesses. Most prominent is a proposal to increase and make permanent what's called the Section 179 deduction, which allows businesses to deduct equipment expenses. The draft also includes suggestions that the deduction for startup costs be doubled, to $10,000 from $5,000; that tax return filing deadlines be pushed back for small corporations; and that the tax differences be minimized or eliminated between two types of companies that have many similarities, partnerships and what are called S corporations. The committee released the draft for public comment. If it proceeds with the proposals, they could be part of an overall tax reform bill. Small business advocates generally welcomed the proposals, but some said lowering overall tax rates is a more important step that would help small business.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs