Buchanan Announces Five Point Jobs Plan
Calls for Tax Relief, Debt Reduction, and Legal Reform
Sarasota, Florida U.S. Rep. Vern Buchanan called today for tax relief, debt reduction and legal reform to help create jobs and boost the economy. Buchanan announced his five point jobs plan during a visit to Jobs Etc.
Priority number one is getting Americans back to work, said Buchanan. My legislation will help create jobs and help unemployed Americans get by in these tough times. Although there have been some positive signs of recovery, with a national unemployment rate of 10%, it is a jobless recovery at best.
Instead of spending trillions of dollars on Wall Street bailouts and big-government programs that continue to increase the deficit, we should enact targeted measures to help small businesses and working families, boost the economy and put people back to work, added Buchanan.
Buchanan called for tax relief for small business investments and capital gains, the one year elimination taxes on unemployment benefits, using repaid TARP funds to help pay down the debt and legal reforms to curb frivolous lawsuits.
Im a businessman not a politician, said Buchanan. I have experience with starting businesses and creating jobs. We need to scrap job-killing policies that are causing small businesses to hold off on hiring and enact legislation that will help put people back to work.
The Suncoast Workforce Board and Jobs Etc. provide is a wide range of employment services to both employers and employees.
Buchanans Five Point Plan to Create Jobs
Tax Relief for Small Business:
The bill would extend a provision that allows small business to deduct all or part of the cost of a business investment in one year, instead of spreading the tax savings across several years. This would increase capital to expand, hire new workers, and purchase new equipment.
One year elimination of the capital gains tax for small businesses:
This important provision will help small businesses gain access to capital. With this incentive, investors will gravitate toward and invest in small business. This provision will help small business grow and create jobs. President Obama supports this initiative.
Make unemployment benefits tax free for 2010:
Millions of Americans are unemployed and struggling. Currently, the federal government imposes income taxes on individuals receiving unemployment benefits. As a result, approximately 11% of their unemployment benefits go to the federal government.
In extraordinary times like now, we should make unemployment benefits tax free so that individuals between jobs can focus on providing for their families.
All repaid TARP funds immediately used to pay down the debt:
We need to prove to the global investors that finance America's debt that we are serious about becoming fiscally prudent and reducing our deficit. This is key to strengthening the dollar, reducing the threat of rampant inflation and holding down interest rates
Curb Frivolous Lawsuits:
Lawsuit abuse threatens jobs and raises prices for all consumers. We can boost our economy and protect American jobs by enacting legal reforms to curb frivolous lawsuits.
The bill would help reduce the number of frivolous lawsuits filed against small businesses by: Imposing mandatory sanctions against attorneys or parties who file frivolous lawsuits; Removing a safe harbor provision that allows plaintiffs and their attorneys to avoid sanctions for frivolous suits by withdrawing them within 21 days; and Reducing court-friendly shopping by requiring that plaintiffs in civil tort actions sue only where they live or were injured, or where the defendant's principal place of business is located.
For More Information, Please Visit: http://buchanan.house.gov/index.php?option=com_content&view=article&i...
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when can we expect thse job creation plans to go into effect? where is the urgency? the clock is ticking and soon millions of americans will run out of unemployment benifits, are companies holding off hireing now waiting to see what the government is gonna do?.
remotehog1 1 year ago
@kdclemons1 It's in the works, but takes time.
dianarachelb 2 years ago
Obama has already proposed tax breaks for SMALL businesses, emphasis on SMALL.
dianarachelb 2 years ago
Obama has already proposed tax breaks for SMALL businesses.
dianarachelb 2 years ago
Great video BTW Vern! Kepp up the good work!!
spiff2003 2 years ago
If the goverment wanted to fix the econmy problem why don't they do what California and Colarado and many other states are doing and legalize hemp for medical use. We should also consider the dozens of aplications it can be used to manufature some of the best clothes. it would save forests from cuting down trees for paper ect. After all it was Ilegal TO REFUSE to grow it on your own property at one point and our founding fathers wrote our constitution on hemp paper and they grew it themselves!!
spiff2003 2 years ago
Well done Congressman, but please ask Obama what happened to all his pretty promises about recreating FDR's work program in a modern context, both rebuilding our infrastructure and creating the "green economy" - making us more energy independent, which I think most of us can agree would be a good thing. These are more useful pursuits than selling us all out to the health insurance companies any day. Beats expending tax dollars on wars built on lies as well, wouldn't you say?
kdclemons1 2 years ago 2