Washington, D.C. —- U.S. Rep. Bob Etheridge (D-Lillington) highlighted “National Small Business Week” in Raleigh yesterday at a coffee house in downtown Raleigh, and called on Congress to pass The American Jobs and Closing Tax Loopholes Act to help American small businesses grow.
The Congressman has visited North Carolina small businesses to emphasize those on the front lines of the effort to restore our economy.
“As a former North Carolina small business owner myself, I appreciate the commitment and hours it takes to keep a business up and running. I enjoyed the opportunity to see this successful ‘mom and pop’ business right here in downtown Raleigh,” Etheridge said. “Small business is the engine that makes North Carolina’s economy go.”
Every year since 1963, America has celebrated National Small Business Week to recognize the contributions of small businesses to our economic well-being. There are an estimated 27.2 million small businesses in America and more than 750,000 in North Carolina. Small businesses are major contributors to the strength of the American economy.
Etheridge plans to use his National Small Business Week visit to call on the House of Representatives to pass The American Jobs and Closing Tax Loopholes Act. This bill, introduced last week, includes many important tax cuts and benefits to help businesses get off the ground and create jobs. For example, this bill would extend a lending initiative, created by the American Recovery and Reinvestment Act, that eliminates the fees and increases Federal guarantees for Small Business Association loans. These loans bolster growth and help businesses create jobs.
“Port City Java is one example of North Carolina hard work that is keeping our economy going and helping create jobs. Eligible small business should take advantage of critical SBA loans and tax incentives passed by this Congress,” Etheridge said. “The tax credits in the American Jobs and Closing Tax Loopholes Act, along with my recently passed HIRE Act, can encourage businesses to retain new hires bill and send a positive message to companies ready for growth in this uncertain economic climate.”