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Small Business for Scott Brown is a coalition of individuals who own and operate all kinds of small businesses across Massachusetts. Scott Brown clearly understands that small businesses are the backbone of our economy and that small businesses are where new jobs are created. We also understand that the big government, tax-raising approach of Professor Elizabeth Warren directly threatens our ability as small business owners to create the new jobs that are vital to an economic recovery. Scott Brown understands how to create and sustain jobs; we believe Professor Warren’s policies would destroy jobs and be a disaster for small business owners across Massachusetts and America.
CUTTING PAYROLL TAXES: Brown’s first legislative action was to propose significant payroll tax relief for businesses in early 2010. Although this amendment was not successful at first, by the end of 2010, President Obama and Congress finally agreed to enact Brown’s proposal. As a leading advocate for continuing this tax relief, Brown publically challenges both parties to avoid in making this important jobs’ boosting measure partisan. S.A.3391 to H.R.4213
REDUCING SMALL BUSINESS PAPERWORK: The Patient Protection and Affordable Care Act included a provision that required businesses to file paperwork and issue 1099’s for all payments over $600. Brown supported a bipartisan bill that repealed this requirement because it was overly burdensome for small businesses- Small Business Paperwork Mandate Elimination Act (S. 18). A House of Representatives version of this bill was signed into law in April 2011.
SMALL BUSINESS TAX INCENTIVES: Introducing a bipartisan measure to provide a 25 percent federal income tax credit for investments in qualified small businesses (in areas like manufacturing, biotechnology and clean energy), Brown’s legislation was ranked #1 in Forbes magazine’s “Top 7 Ideas for Tax Incentives to Create Jobs” on September 2, 2011. American Opportunity Act of 2011 (S.256). Brown also introduced a measure to start tax free startup accounts that would allow individuals seeking to start a small business to save up to $10,000 annually and grow the savings tax free. This money could be used for equipment, facilities, marketing, legal fees and other capital and operating expenses required to start and run a small business. Small Business Savings Account Act of 2011 (S.364).
SMALL BUSINESS INNOVATION AND RESEARCH GRANTS: Brown led the way to reauthorize the Small Business Innovation Research (SBIR) program. SBIR provides seed money to small businesses through a highly competitive program to encourage federal research and development of commercially-viable goods and products.
SMALL BUSINESS PROTECTIONS: Recognizing that regulatory uncertainty disproportionately impacts small businesses, Brown cosponsored a bill that would require small business concerns to be considered when federal agencies create regulations. Small Business Regulatory Freedom Act of 2011 (S.474).
HELPING BAY STATE BREWERS: Brown cosponsored a bipartisan bill that would reduce the excise tax on beer produced or imported into the US for brewers that produce less than 6 million barrels of beer a year. Brewer’s Employment and Excise Relief Act of 2011 (S. 534). Brown also cosponsored a tax provision that would reduce the per-barrel tax on beer from $18 to $9 and allow a further reduction in taxes imposed on brewers that produce less than 2 million barrels annually. Brewers Excise and Economic Relief Act of 2011(S. 1111).
JUMPSTARTING OUR ECONOMY: Brown supported a package of bills designed to jumpstart our economy and give our job-creators, small businesses, startups and entrepreneurs tools to start new businesses. This package of bipartisan bills included measures to increase capital formation, spur startup and small business growth, and create an onramp for small business to go public. This package included Brown’s crowdfunding legislation. President Obama signed this bill into law in April. Jumpstart Our Business Startups Act (H.R. 3606).
INCREASING ACCESS TO CAPITAL: Brown introduced the first crowdfunding legislation in the Senate, which would allow entrepreneurs to raise up to $1 million with fewer regulatory burdens. Brown’s legislation also gives ordinary citizens the opportunity to invest in tomorrow’s companies. (Democratizing Access to Capital Act of 2011 (S.1791)). Working across the aisle, a bipartisan version of crowdfunding was signed into law by President Obama in April. Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act of 2012 (S. 2190).
DISABLED VETERAN OWNED SMALL BUSINESSES: Brown introduced legislation that would update the Veterans Benefits Code within the Department of Veteran Affairs to further assist spouses of deceased veterans who received benefits under the VA’s service disabled veteran owned small business (SDVOSB) program. Currently, a SDVOSB designation can only be transferred to a spouse if the veteran’s death was caused by a disability attributable to the veteran’s active duty service. If a veteran dies from unrelated causes, he or she cannot pass the business to another veteran or reestablish a business model. Brown’s bill would provide surviving spouses a three year transfer period. Veterans’ Small Business Opportunity Act of 2012(S. 3210).
PREVENTING INCREASES IN SMALL BUSINESS TAXES: When a student loan bill was introduced that would extend the reduced Direct Subsidized Stafford loan rates for one year by increasing small business taxes, Brown strongly opposed the bill and introduced his own bill that would not increase taxes for small businesses. This controversial bill would have taxed small service-based businesses by imposing a payroll tax on certain shareholders in the areas of health, law, lobbying, engineering, performing arts, consulting, athletics, investment advice or management or brokerage services. This tax would have been limited to corporations with three or fewer shareholders whose modified adjusted gross income is $250,000 or more for married taxpayers and $200,000 or more for single taxpayers.
ARTICLES RELATED TO COALITION ISSUES
- Boston Herald: High Taxes Burden Working People
- Worcester Business Journal: Brown Stresses Jobs, Problem Solving
- Scott Brown, Saying Job Growth Flat, Introduces Proposals to Boost Employment
- Boston Globe: Brown Backs Element of Obama Job Plan
- Newburyport News: Senator Taking Steps Toward Job Creation
- Patriot Ledger: (Op-Ed): Keystone Pipeline Was A Missed Opportunity
- Boston Globe: ‘Disgusting’ Political Climate Dooming Efforts to Fix Economy, Says Brown
- Boston Globe: In Quincy, Senator Scott Brown Tells Veterans Much is Being Done
- Boston Globe: Sen. Scott Brown Speaks to Veterans in Quincy to Untangle Veterans’ Affairs Issues
- WIRED: Sen. Scott Brown: Creating a Nation of Venture Capitalists Through Crowdfunding
- Scott Brown Leads Forum on Crowd-Funding, Venture Capital
- Boston Business Journal: Scott Brown: Crowdfunding for Startups Would Mean Economic Stimulus
- BostInno: Scott Brown: Startups Can “Blow the Doors Off” the Economy
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