“Now, the true engine of job creation in this country will always be America’s businesses. But government can create the conditions necessary for businesses to expand and hire more workers. We should start where most new jobs do — in small businesses, companies that begin when an entrepreneur takes a chance on a dream, or [...]
Unpacking the Stimulus Package, Vol. 7 Treasury Department officials are considering a plan to help small businesses by diverting some of the billions of dollars approved for bank bailouts to small businesses, but stress that “any consideration of this idea is extremely preliminary.” Treasury Secretary Timothy Geithner showed support for the proposal at a White [...]
Unpacking the Stimulus Package, Vol. 6 The stimulus package expanded consumer tax incentives for homeowners who make energy efficient home improvements and for individuals and businesses that purchase or lease hybrid vehicles. These consumer tax benefits, initially introduced in the Energy Policy Act of 2005 (EPACT), have been extended through 2010. In addition, the total [...]
Unpacking the Stimulus Package, Vol. 4 On June 15th, the Small Business Administration began accepting applications for their short-term deferred-payment ARC loan program. By the end of the first week, however, only four national banks had signed on to the program and only 72 of an estimated 10,000 loans had been approved nationwide, none of [...]
Unpacking the Stimulus Package, Vol. 3 The Stimulus Package created, extended or expanded several business tax deductions and credits to help small businesses struggling as a result of the economic downturn. As some of these tax breaks are only available this year, companies have just a few months to take action. Here are some of [...]
Unpacking the Stimulus Package, Vol.2 Small businesses hoping to take advantage of the SBA’s America’s Recovery Capital Loan Program (“ARC”) should be proactive in securing their place in the program, which only allows for about 10,000 loans nationwide, or an average of 200 per state. The SBA anticipates a high demand for these loans, so [...]
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