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Small Business Report: 1/29

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  • Description

    How will State of the Union address ideas affect small business?

  • Duration 1:40
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In his State of the Union Address President Obama promised more tax breaks and less government regulation and to help small companies grow and whose job creating.

-- -- regulations that prevent aspiring.

Onto the north from getting the financing to grow.

Expand tax relief to small businesses that are raising wages and creating good jobs.

Both parties agree on these -- So put them -- a bill and get it on my desk this year.

Among other things the president proposed extending tax breaks that allow companies to write off a 100% of their investments in new plant and equipment in one year.

Rather than over many years it's a four billion dollar proposal.

He also wants congress to approve five billion dollars in new tax credits for clean energy manufacturing.

As well as six billion dollars in new tax credits for manufacturers that open operations and communities that have suffered major job losses.

He also proposed hundreds of billions of dollars more in infrastructure spending over the next decade.

We've got crumbling roads and bridges.

-- power -- that wastes too much energy.

-- -- complete high speed broadband network that prevents a small business owner in rural America from selling her products all over the world.

But critics said the president's proposal to impose a minimum tax rate of 30%.

On people who earn more than a million dollars a year.

Could hurt some entrepreneur doors and limit new hiring.

That's it for this edition of the small business report I'm Peter Barnes Fox Business Network.

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