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Congressman Representing Part of Knox County Worries About Small Business Help
President Barack Obama called on Congress to pass a package of tax changes, credits, and loans designed to help the small businesses that he called the "driving force behind this recovery."

U.S. Representative Aaron Schock, however, says while he hasn't seen the specifics of the president's proposal, he agrees small businesses need all the help they can get. But he criticized the Obama administration for not doing more sooner. He says more money from the first stimulus package should have targeted small businesses.

"All of the tax legislation that is moving in Congress is very, very harmful to small business," Schock said. "Would I support a reduction in small business tax rates? Absolutely. Would I support the reestablishment of accellerated appreciation for small businesses? Absolutely. There's a long list of bills that I've introduced that haven't moved that I would hope the President would embrace if he wants true small business job growth."

Obama is now pushing the U.S. House and Senate to adopt a package that includes eliminating capital gains taxes for those making long-term investments in small businesses, expanding small business administration loans, and creating a lending fund that would target only community banks.
06 11 10 by Newsroom
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