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Congressman Loebsack votes to help small businesses, spur economic development |
| Posted: March 05, 2010 |
WASHINGTON DC – Congressman Dave Loebsack today voted for bipartisan measures that would create a payroll tax holiday for businesses that hire unemployed workers, invest in our crumbling infrastructure, and create new business and construction jobs this year.
“These measures will help everyday families and businesses who are struggling to make ends meet,” said Loebsack. “These targeted investments in infrastructure and small business will help strengthen Main Street and provide much needed support to the key drivers of our economy – small businesses and construction.”
This bipartisan job creation measure passed by a vote of 70-28 in the Senate last week and is part of a concerted effort to tackle the country’s economic woes. Loebsack is committed to working with members on both sides of the aisle to create common-sense solutions to spur economic development and create jobs in Iowa and around the country.
“Today we took a step in the right direction. For far too long politics have been getting in the way of governing, and I urge my colleagues on both sides of the aisle to continue working on measures that will help Iowa families. In order to move our country forward, we need more action and less politics in Washington,” added Loebsack.
Loebsack voted for the following measures:
· A payroll tax holiday for businesses that hire unemployed workers and an income tax credit of $1,000 for businesses that retain these employees
· An increase to $250,000 from $125,000 in the amount that businesses can expense for certain depreciable business assets for the 2010 tax year
· Extension of the Highway Trust Fund allowing for infrastructure investment
· Provisions, modeled after the Build America Bonds program, to make it easier for states to borrow for infrastructure projects, such as school construction and energy projects
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