What issues of concern to homebased entrepreneurs is the 105th
Congress, now at the start of its two-year term, likely to
undertake? We asked three freshman and two veteran congressional
legislators their views.
Representing both sides of the political spectrum, the three
newcomers share a common bond: a strong business background. And
both veterans have proven records of supporting home-based
entrepreneurs.
Republican Christopher Cannon, the newly elected con- gressman
represent- ing Utah's third district, has owned Cannon
Industries for six years. This venture capital firm works almost
exclusively with start-up businesses, concentrating in the
high-tech industry. His business experiences have convinced Cannon
that simplification of tax and regulatory codes is what he should
advocate during his congressional tenure.
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"We have some heinous problems with government regulation.
The principle one is taxation," says Cannon, who would like to
restructure and simplify the corporate tax code so both companies
and the government do not waste so much time and money on the
issue.
Ideally, he would like to simplify the entire tax code, which
would make the home office deduction unnecessary. Recognizing that
this is an extremely complex and time-consuming undertaking, Cannon
sees a need for adjustments to the codes regarding home
offices.
"We need to even the playing field for small companies, and
the home office deduction is one of the things that can do
it," Cannon says. "Where you do business is really in
your head and quite often on a cellular phone. If a place is
dedicated to business, it should get the deduction."
Susan Collins, recently elected Republican senator from Maine,
knows cost was a major stumbling block preventing the passage of
home office deduction legislation during the 104th Congress (the
Senate Ways and Means committee estimates proposed legislation
would cut $1.9 billion in government revenues over 10 years).
"There is a lot of interest in Congress in reducing the tax
burden for middle-income taxpayers, and I think a lot of homebased
business owners fall into that category. I'm suggesting this
should be one of the proposals on the table as we look at tax
cuts," says Collins, who served as the executive director of
the Center for Family Business at Husson College in Bangor, Maine,
before her election. She also was the New England Administrator for
the Small Business Administration in 1992. And Collins' family
has operated a small lumber and building supplies retail
business--S.W. Collins Co. Inc.--in Caribou, Maine, for five
generations.
"Success will depend on homebased business owners making
their voices heard in Washington," Collins continues.
"There will be a certain amount of money set aside for tax
relief as part of the budget resolution, and homebased businesses
need to make sure they are heard when decisions on tax relief
measures are made."
Collins is planning to establish six state offices to act as
information and help centers throughout the state of Maine, as well
as a Web site, and encourages homebased entrepreneurs to express
their opinions at these locations.
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