Obama Proposes Tax Credit for Small Biz
Opinions expressed by Entrepreneur contributors are their own.
President Obama's State of the Union speech last night garnered mixed reactions from the small business community. He stressed that creating jobs must be Congress's No. 1 focus this year and said, "Businesses are the engine of job creation."
So what's his plan for the little guy? Obama's proposing that Congress take $30 billion from the Wall Street bailout to help community banks make loans to small businesses.
Last night he also proposed a small business tax credit that would help a million small businesses, as well as eliminating capital gains taxes on small business investments.
Our Facebook fan page was blowing up last night, following the president's speech. What did you think about Obama's State of the Union address in relation to small business?
Do you think he's doing enough to help entrepreneurs? Check out what entrepreneurs are saying and leave a comment to join the heated discussion now:
Jade Anderson: I think he is doing all that he can considering he hasto clean up Bush's mess as well as republican non-cooperation. It'samazing what could be accomplished when everyone works together.
Ceneca Bettencourt: Yes, the president does have an affect on what isand in some ways what can be done but it all comes down to "thepeople." It all starts with you.
Itai Manyere: The onus is on us to make it happen for us asentrepreneurs. No single leader will come out for us and get thingswhere we want to be.
Tony Aponte: I think he will do his part in helping small businesses.It's funny how people don't like his no B.S style--it's about time wegot someone in there that doesn't pull punches. Change takes time.People just want immediate results; it doesn't work that way,especially when you inherit a load of problems.
Cheryl Blazej: It seemed like a lot of sound bites to me. I count onmyself and staff to grow our business. "The buck stops here."
Jeremy McCracken: Help small businesses with funding and then get outof the way and quit taxing the hell out of them and then we might beable to believe what he says.
Lanette Fieser: I think a positive movement is in effect with Obama inoffice and the change we've all talked about will finally starthappening if we all work together for unity.
