WASHINGTON, DC— In this week’s address, President Obama spoke to the American people from the Boeing Plant in Everett, Washington about our efforts to strengthen American manufacturing and job creation here in the United States. He described how we can support businesses like Boeing, which is hiring thousands of Americans across the country, through steps like removing tax breaks for companies that send jobs overseas and giving them to companies that create jobs at home. The President is committed to continue assisting businesses in selling their products around the world, and the United States is on track to meet President Obama’s goal of doubling exports within five years. The President believes that by boosting American manufacturing and supporting our job creators, we can create an economy that’s built to last.
Category Archives: small businesses
WASHINGTON—In this week’s address, President Obama urged Congress to pass the American Jobs Act without delay so that businesses will be able to hire more workers and every American who wants a job will be able to find one. The President’s jobs bill keeps cops on the streets and teachers in the classrooms, cuts taxes for small businesses, and puts construction workers back to work without adding to the deficit. All Americans who agree with the President’s plan should call their elected officials and tell them that it’s time to pass the jobs bill, which will ensure that everyone pays their fair share and that we live within our means as we help the economy continue to grow.
>President Obama’s Weekly Address 1/29/11: "America Will Win the Future by Out-Innovating, Out-Educating, and Out-Building Our Competitors"
>WASHINGTON – In this week’s address, President Obama called Orion Energy Systems in Manitowoc, Wisconsin an example of how America can win the future by being the best place on Earth to do business. Orion was able to open with the help of small business loans and incentives that are creating demand for clean energy technologies. By sparking innovation and spurring new products and technologies, America will unleash the talent and ingenuity of American workers and businesses, which will lead to new, good jobs.
Morristown) – Speaking outside of a closed storefront in downtown Morristown, Douglas Herbert addressed the urgent need to help struggling small businesses in New Jersey’s Eleventh District. Doug said, “Small businesses are the engine of our economic growth. They account for 75 percent of new job creation… Nothing should be more non-partisan than helping small businesses grow and putting Americans back to work.”
Referring to Rodney Frelinghuysen’s recent vote against the ‘Small Business Lending Fund Act,’ Doug emphasized, “Rodney talks about how he supports small business and how he wants to help put people back to work. However, when he has a chance to act, a chance to actually help small business, Rodney Frelinghuysen votes against their interests.”
“Now is not a time to play politics with people’s lives. I would have voted to allow small businesses to rehire and reinvest. By putting money in the hands of those who will use it, we can and will create an economic recovery one dollar at a time.”
In order to help small businesses gain access to the resources necessary to grow, Doug proposed three approaches:
(1) I will fight to provide payroll tax credits for small business that hire and rehire Americans currently unemployed. Many small business owners that I have spoken to have told me that they would put this credit back into their business and into hiring new employees.
(2) I will fight to expand government guaranteed loan programs and credit lines to small businesses. As a small-business owner myself, I know that access to capital is a primary concern for many small business owners now. We cannot sit back and allow small businesses to suffocate while Congressmen like Frelinghuysen approve billions of dollars in big bank bailouts. Bills like the one last week are crucial to ensuring business can survive this recession.
(3) Lastly, it is time that we have a Congressman in the Eleventh District who will support innovation and high-tech job creation. Through investments in research and a tax credit so that businesses can innovate, I will work to bring new, high-tech jobs to the Eleventh District. I will not accept the status-quo; there are real steps we can take to create new high-paying and secure jobs here.
Closing his comments, Doug said, “Small-businesses drive our economy, and I will make sure that their interests and the Eleventh District’s interests are represented in Congress.”
To read Doug’s full statement
Douglas Herbert is a veteran of the 82nd Airborne and he currently resides in Chatham, NJ. He is running against the eight-term incumbent Rodney Frelinghuysen.
>The following letter written by Mr. Vin Gopal appears on the AHherald.com
This November, we’ll find the usual cast characters on the ballot: wall street millionaires, politically-connected lawyers and career politicians, all of whom will try to convince us that they know what is best for us. As a small business owner, I work 16 hours a day, battling to make payroll for my employees while fighting to keep prices low for my customers and clients. One member of Congress understands what small business owners go through every day. His name is Rush Holt and he is not a career politician, he is a rocket scientist turned college professor turned public servant. During his tenure in Congress, Representative Holt has had a far greater outreach into the small business community than any other member of Congress in the New Jersey delegation.
He feels our frustration and pain when we are working twice as many hours making half of what we used to two years ago. That is why he recently introduced the “Creating Jobs From Innovative Small Businesses Act of 2010” – legislation which would encourage small business investment by establishing a temporary 20 percent tax credit for investments in research-intensive small businesses. Last year, Representative Holt helped pass legislation in the House that would eliminate fees on SBA loans and increase loan guarantees to increase lending to small businesses. Month after month, Representative Holt is fighting for us in Congress.
As Labor Day passes and as the campaign season heats up, the last thing small business owners need is another wall street genius who claims he can fix all of our problems. We need someone who has walked the walk and that is Representative Rush Holt. As a private citizen and a proud small business owner, I urge Central Jersey residents to vote for Rush Holt, someone small business owners can count on and someone Wall Street can count against.
Long Branch, NJ
Vin Gopal serves on the Board of Directors for the Northern Monmouth Chamber of Commerce and is President of the Hazlet Business Owners Associations. He is the co-owner of Monitor Publications, which currently markets over 200 small businesses throughout Monmouth and Middlesex Counties. These views in this letter do not represent the position(s) of any of these organizations.
From the Asbury Park Press –
The environmentally-conscious moves could save employers money in the long run and jump-start the alternative energy industry.
“There are all sorts of reasons to change,” Rep. Rush Holt, D-N.J., said. “Some of those reasons are (that) it’s economically advantageous.”
Holt sponsored a forum at the Monmouth County Library Headquarters, telling nearly three dozen people in attendance that America’s economy and security would benefit from a shift to alternative energy.
There are signs that New Jersey is embracing the idea. The state has the nation’s second most solar capacity in the nation, behind only California. And the use of solar energy in the Garden State has tripled during the past year, said Joananne Bachmann, renewable energy account manager for New Jersey’s Clean Energy Program.
Some in the audience said they were on board — if they could get financial help.
To complete the project, she said her company wants to buy the building from its
landlord, renovate it and expand.
“It’s quite hard right now for small businesses to do these on your own, so you’re
looking for incentives,” Brown said.
Officials highlighted several programs to help convince owners to conserve energy, assess their building for upgrades and look for alternative energy sources such as solar and wind power.
The main ones:
— Small and medium-sized companies with a peak electric demand that hasn’t exceeded 200 kilowatt hours during the past year can participate in a program called “Direct Install” in which a contractor assesses the efficiency of businesses’ heating and air conditioning, electrical and lighting systems.
Read More >>> Here
Following the signing of historic Wall Street Reform legislation, the President lays out his plans to strengthen the middle class, give tax breaks to small businesses that create jobs here, invest in homegrown, clean energy, and cut taxes for working families. The President also contrasts that plan with the agenda outlined by the Republican House Leader that would return America to the policies that created this economic crisis, drastically increase the deficit, and make permanent massive tax breaks for the very wealthiest Americans.
The President blasts Republicans in the Senate who are blocking unemployment insurance and small business tax breaks to create jobs — even as they push for permanent, massive tax cuts for the richest Americans.
This week, many of our largest corporations reported robust earnings – a positive sign of growth.
But too many of our small business owners and those who aspire to start their own small businesses continue to struggle, in part because they can’t get the credit they need to start up, grow, and hire. And too many Americans whose livelihoods have fallen prey to the worst recession in our lifetimes – a recession that cost our economy eight million jobs – still wonder how they’ll make ends meet.
That’s why we need to take new, commonsense steps to help small businesses, grow our economy, and create jobs – and we need to take them now.
For months, that’s what we’ve been trying to do. But too often, the Republican leadership in the United States Senate chooses to filibuster our recovery and obstruct our progress. And that has very real consequences.
Consider what that obstruction means for our small businesses – the growth engines that create two of every three new jobs in this country. A lot of small businesses still have trouble getting the loans and capital they need to keep their doors open and hire new workers. So we proposed steps to get them that help: Eliminating capital gains taxes on investments. Establishing a fund for small lenders to help small businesses. Enhancing successful SBA programs that help them access the capital they need.
But again and again, a partisan minority in the Senate said “no,” and used procedural tactics to block a simple, up-or-down vote.
Think about what these stalling tactics mean for the millions of Americans who’ve lost their jobs since the recession began. Over the past several weeks, more than two million of them have seen their unemployment insurance expire. For many, it was the only way to make ends meet while searching for work – the only way to cover rent, utilities, even food.
Three times, the Senate has tried to temporarily extend that emergency assistance. And three times, a minority of Senators – basically the same crowd who said “no” to small businesses – said “no” to folks looking for work, and blocked a straight up-or-down vote.
Some Republican leaders actually treat this unemployment insurance as if it’s a form of welfare. They say it discourages folks from looking for work. Well, I’ve met a lot of folks looking for work these past few years, and I can tell you, I haven’t met any Americans who would rather have an unemployment check than a meaningful job that lets you provide for your family. And we all have friends, neighbors, or family members who already knows how hard it is to land a job when five workers are competing for every opening.
Now in the past, Presidents and Congresses of both parties have treated unemployment insurance for what it is – an emergency expenditure. That’s because an economic disaster can devastate families and communities just as surely as a flood or tornado.
Suddenly, Republican leaders want to change that. They say we shouldn’t provide unemployment insurance because it costs money. So after years of championing policies that turned a record surplus into a massive deficit, including a tax cut for the wealthiest Americans, they’ve finally decided to make their stand on the backs of the unemployed. They’ve got no problem spending money on tax breaks for folks at the top who don’t need them and didn’t even ask for them; but they object to helping folks laid off in this recession who really do need help. And every day this goes on, another 50,000 Americans lose that badly needed lifeline.
Well, I think these Senators are wrong. We can’t afford to go back to the same misguided policies that led us into this mess. We need to move forward with the policies that are leading us out of this mess.
The fact is, most economists agree that extending unemployment insurance is one of the single most cost-effective ways to help jumpstart the economy. It puts money into the pockets of folks who not only need it most, but who also are most likely to spend it quickly. That boosts local economies. And that means jobs.
Increasing loans to small business. Renewing unemployment insurance. These steps aren’t just the right thing to do for those hardest hit by the recession – they’re the right thing to do for all of us. And I’m calling on Congress once more to take these steps on behalf of America’s workers, and families, and small business owners – the people we were sent here to serve.
Because when storms strike Main Street, we don’t play politics with emergency aid. We don’t desert our fellow Americans when they fall on hard times. We come together. We do what we can to help. We rebuild stronger, and we move forward. That’s what we’re doing today. And I’m absolutely convinced that’s how we’re going to come through this storm to better days ahead.
From my friends at Newjerseynewsroom.com:
“Health care reform has been a long time coming – almost 100 years in the making,” said U.S. Rep Rush Holt (NJ-12). “Yet, the benefits will be felt immediately, giving families and small businesses control over their health care.
“Small businesses will soon receive tax credits, patients will no longer lose coverage when they get sick, and seniors will have help paying for prescription drugs and have access to free preventive care. And as it turns out, lawyers combing the legislation have failed to find any death panels.”
The following are key provisions that take effect within a year:
FOR SMALL BUSINESSES
SMALL BUSINESS TAX CREDITS — Offers tax credits to small businesses to make employee coverage more affordable. Tax credits of up to 35 percent of premiums will be immediately available. Effective beginning for calendar year 2010. (Beginning in 2014, small business tax credits will cover 50 percent of premiums.)
BEGINS TO CLOSE THE MEDICARE PART D DONUT HOLE — Provides a $250 rebate to Medicare beneficiaries who hit the donut hole in 2010. Effective for calendar year 2010. (Beginning in 2011, institutes a 50% discount on brand-name drugs in the donut hole; also completely closes the donut hole by 2020.)
FREE PREVENTIVE CARE UNDER MEDICARE — Eliminates co-payments for preventive services and exempts preventive services from deductibles under the Medicare program. Effective beginning January 1, 2011.
HELP FOR EARLY RETIREES — Creates a temporary re_insurance program (until the Exchanges are available) to help offset the costs of expensive health claims for employers that provide health benefits for retirees age 55-64. Effective 90 days after enactment
FOR THOSE PRIVATELY INSURED
NO DISCRIMINATON AGAINST CHILDREN WITH PRE-EXISTING CONDITIONS — Prohibits health plans from denying coverage to children with pre-existing conditions. Effective 6 months after enactment. (Beginning in 2014, this prohibition would apply to adults as well.)
NO RESCISSIONS — Bans health plans from dropping people from coverage when they get sick. Effective 6 months after enactment.
NO LIFETIME LIMITS ON COVERAGE — Prohibits health plans from placing lifetime caps on coverage. Effective 6 months after enactment.
TIGHTLY REGULATES ANNUAL LIMITS ON COVERAGE — Tightly restricts new plans’ use of annual limits to ensure access to needed care. These tight restrictions will be defined by HHS. Effective 6 months after enactment. (Beginning in 2014, the use of any annual limits would be prohibited for all plans.)
FREE PREVENTIVE CARE UNDER NEW PLANS — Requires new private plans to cover preventive services with no co-payments and with preventive services being exempt from deductibles. Effective 6 months after enactment.
NEW, INDEPENDENT APPEALS PROCESS FOR NEW PLANS — Ensures consumers in new plans have access to an effective internal and external appeals process to appeal decisions. Effective 6 months after enactment.
MORE FOR YOUR PREMIUM DOLLAR — Requires plans to put more of your premiums into your care, and less into profits, CEO pay, etc. This medical loss ratio requires plans in the individual and small group market to spend 80 percent of premiums on medical services, and plans in the large group market to spend 85 percent. Insurers that don’t meet these thresholds must provide rebates to policyholders. Effective on January 1, 2011.
NO DISCRIMINATION BASED ON SALARY — Prohibits new group health plans from establishing any eligibility rules for health care coverage that have the effect of discriminating in favor of higher wage employees. Effective 6 months after enactment.
FOR THOSE UNINSURED
IMMEDIATE HELP FOR THE UNINSURED WITH PRE-EXISTING CONDITIONS (INTERIM HIGH-RISK POOL) — Provides immediate access to insurance for Americans who are uninsured because of a pre- existing condition — through a temporary high-risk pool — until the Exchanges up and running in 2014. Effective 90 days after enactment. (Beginning in 2014, health plans are banned from discriminating against all people with pre-existing conditions, so high_risk pools would phase out).
EXTENDING COVERAGE FOR YOUNG PEOPLE UP TO 26TH BIRTHDAY THROUGH PARENTS’ INSURANCE — Requires health plans to allow young people up to their 26th birthday to remain on their parents’ insurance policy, at the parents’ choice. Effective 6 months after enactment.
COMMUNITY HEALTH CENTERS — Increases funding for Community Health Centers to allow for nearly doubling the number of patients served over the next 5 years. Effective beginning in fiscal year 2010.
MORE PRIMARY CARE DOCTORS — Provides new investment in training programs to increase the number of primary care doctors, nurses, and public health professionals. Effective beginning in fiscal year 2010.
HEALTH INSURANCE CONSUMER ASSISTANCE — Provides aid to states to establish offices of health insurance consumer assistance to help consumers file complaints and appeals. Effective beginning in FY 2010.
CREATES NEW, VOLUNTARY, PUBLIC LONG-TERM CARE INSURANCE PROGRAM — Creates a long-term care insurance program to be financed by voluntary payroll deductions to provide benefits to adults who become functionally disabled. Effective on January 1, 2011.
MORE REFORMS THAT BEGIN IN 2014 (WHEN EXCHANGES HAVE FORMED)
NO DISCRIMINATION AGAINST ADULTS WITH PRE-EXISTING CONDITIONS
BAN ON HIGHER PREMIUMS FOR WOMEN
PREMIUMS BASED ON AGE CAN ONLY VARY BY A MAXIMUM OF 3 -TO -1 RATIO
CAP ON OUT-OF-POCKET EXPENSES for private health plans.