Small Business

Policy Accomplishments for 2007

• Successfully obtained passage of two short-term extensions of SBA program authorizations.

• Formed the Coalition for Fairness in Tax Compliance to oppose regulatory and legislative strategies that would impose excessive and obtrusive tax compliance burdens on small businesses.
• Blocked three proposals to close the tax gap. Those proposals would have required:  businesses to file information returns on payments made to corporations that provide services; information reporting on merchant credit card reimbursements; businesses to verify contractors' tax identification numbers.  

• Successfully obtained passage into law of the Small Business Regulatory Compliance Assistance Enhancement Act of 2007, S. 246, as part of the Iraqi Supplemental Appropriations. This law amends the Small Business Regulatory Enforcement Fairness Act of 1996 to require agencies to prepare compliance guides for small businesses.

• Successfully acquired increased funding levels for Small Business Development Centers (SBDC) in both the House and Senate FY2008 Financial Services and General Government appropriations bills. The SBDC program provides convenient resources to entrepreneurs for starting and growing their businesses.