Supporting Small Businesses and Charitable Giving
by Sam Johnson on February 5, 2015 at 5:07 PM
Hard work and charitable giving are some of our nation’s core values, and we should be doing all we can to encourage strengthening and continuing these values – particularly when too many Americans are still struggling in today’s economy.
“Over half of America’s work force is employed by a small business. In fact, seven out of every 10 new jobs comes from a small business. They are the backbone of our economy, and in order to help small businesses grow and invest in the future, the best thing we can do is get Washington out of the way by easing the tax and regulatory burden these job creators face. The Small Business Regulatory Flexibility Improvements Act, the Unfunded Mandates Information and Transparency Act, and the America’s Small Business Tax Relief Act do just that. I am also proud to have supported several bills to permanently incentivize charitable giving.
I encourage the Senate to follow our lead in the House by taking up these important bills. American families and small business owners want, need, and deserve no less.
Bills Passed in Ways and Means Committee Markup:
- H.R. 636, America’s Small Business Tax Relief Act of 2015, would create stability for small businesses by making permanent increased small business expensing.
- H.R. 637, Permanent IRA Charitable Contribution Act of 2015, would permanently allow tax-free distributions from Individual Retirement Accounts (IRA) for charitable purposes.
- H.R. 641, Conservation Easement Incentive Act of 2015, would permanently extend the deduction of land for conservation purposes.
Bills passed on House Floor:
- H.R. 527, Small Business Regulatory Flexibility Improvements Act of 2015, would require regulatory agencies to analyze the direct and indirect impact their regulations have on small businesses. In addition, it would require federal agencies to establish small business advocacy panels to review major regulations.
- H.R. 50, Unfunded Mandates Information and Transparency Act, would require federal agencies to consider the cost and impact federal mandates have on consumers, workers, and employers.