FOX Report on Helping Small Businesses Create New Jobs

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Uploaded by on Oct 9, 2009

A Fox News report highlights the letter by House Republicans to the president outlining proposals for helping small businesses create new jobs. The Republican proposals include:

-Allowing "small businesses to take a tax deduction equal to 20 percent of their income. This will immediately free up funds for small businesses to retain and hire new employees;

-Letting "small businesses join together to purchase health insurance for their workers the way large businesses and labor unions do;

-Reining in junk lawsuits by way of "genuine legal reform and policies that incentivize wellness to reduce health care costs for small businesses;

-Expanding "health savings accounts (HSAs) to provide additional flexibility to small businesses in providing health care to their employees;

-Increasing "the net operating loss carry back from 2 to 5 years to provide struggling employers with additional resources to keep their doors open; and

-Freeing up capital to help small businesses hire more workers by reducing the current 15 percent rate to 10 percent and reducing the current 10 percent rate to 5 percent for all taxpayers.

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