Small biz bill: The good, the bad and the political
The House has made it official, passing an aid package that provides millions of dollars in tax breaks and potential loans for small businesses.
You already know how I feel about it. Let's let some other folks chime in.
- CNNMoney's Catherine Clifford says the bill "would likely have only a limited impact on most small businesses," adding that the bill "would really only change the game for big spenders" in the business world.
- Not so fast, says Forbes.com's Dean Zerbe. He says the bill "has several good tax relief provisions that can possibly translate into real dollars in the pockets of business owners." These including a five-year carry-back for general business credits, an increase in Section 179 expensing, expanding the deduction for startup expenses, and more.
- Karen Mills, who heads the U.S. Small Business Administration, called the bill "a key step forward in making sure small businesses have the resources they need to do what they do best – create jobs and drive economic growth." I guess that's not terribly surprising, considering the bill expands loan programs offered through the SBA.
I still say this particular piece of legislation is more politics than progress. When it comes right down to it, though, what isn't these days?
- UPDATE, Sept. 23: House passes small business bill, too
- UPDATE, Sept. 27: Obama signs Small Business Jobs Act
Let me know what you think of the bill, then check out these additional resources: