September 14th, 2010
08:25 AM ET
4 years ago

Senate takes up 'job killing' IRS rule

 Lawmakers return to Capitol Hill this week after the summer recess and small business tops their to-do list.
Lawmakers return to Capitol Hill this week after the summer recess and small business tops their to-do list.

New York (CNNMoney.com) - Lawmakers return to Capitol Hill this week after the summer recess and small business tops their to-do list.

Their goal: Help small business, and boost the economy. The Senate will consider two proposals right off the bat.

The broader measure is the Small Business Jobs Act, which includes a $30 billion fund to spur lending and $12 billion worth of tax breaks. The Senate will also decide whether to repeal a law enacted as part of health care reform that will require small businesses to file millions of new tax forms - a provision a top Republican calls "job killing."

Main Street needs the help: Credit remains hard to come by, and without it hiring is suffering. In fact, small business hiring has been on a downward slide for the past two and a half years.

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Filed under: CNNMoney.com • issues • Jobs • Senate
soundoff (9 Responses)
  1. Liz the First

    Wow! i'm actually agreeing with republicans on something! mark this day down on the calendar. they're absolutely right about getting rid of the 1099 provision. how the heck did that get into a health care bill? glad they're working to repeal it. hope the Dems get on board with this, too. it's nonsense! the tax code is complicated enough without this unnecessary burden to business owners.

    September 14, 2010 08:58 am at 8:58 am |
  2. pa mom

    Look even further to the additional taxes and responsibilities placed on businesses that are job killing. The democrats blame "business greed" but with the additional costs for healthcare and unemploment benefits, it has to affect something and it has no place to go but taxes. A company has an obligation to its investors and it cannot afford to be competitive with everything this administration is dumping on them. It cost $75k for a $54k yearly salary.....and the dems don't think this is affecting jobs? Time for an econ 101 class in the WH! Law degrees and community organizing does not teach this and a staff of advisors who never worked in the private sector complicates it further.

    September 14, 2010 09:01 am at 9:01 am |
  3. Rick McDaniel

    This entire thing is Dem propaganda. First, small business cannot afford to take on debt in this economy. Second they have cut jobs and are not hiring, because the business isn't there. Third, throwing money at this problem is not going to accomplish anything.

    The ONLY WAY to bring back jobs, is to bring back manufacturing, and to do that, you only need to set up increases in taxes for producing off shore, and tax incentives for producing within the country. NO SPENDING is required to create jobs, whatsoever.

    September 14, 2010 09:06 am at 9:06 am |
  4. Thanks

    The 1099 reporting that is required by the health care bill is unmanageable. So after ramming a bad bill through, we now have to hope it can be fixed. Small businesses are the only sector of the economy that continually pays taxes and drives the economy. C;mon 2012.

    September 14, 2010 09:26 am at 9:26 am |
  5. gt

    this is a no brainer,,,,

    September 14, 2010 09:47 am at 9:47 am |
  6. sonny chapman

    GOP talk- A noun, a verb & JOB KILLING. Are their antics are not pure D George Orwell or what.

    September 14, 2010 10:08 am at 10:08 am |
  7. jim

    So now the dems want to try to undo what they did when they passed the healthcare legislation..Funny how the people where asking them to read the bill before voting on it and Speaker Pelosi saying to us,"WE need to pass the bill to see whats in it" You can't make this stuff up !!!!

    September 14, 2010 10:15 am at 10:15 am |
  8. T'SAH from Virginia

    "Their goal: Help small business, and boost the economy. The Senate will consider two proposals right off the bat."

    DEMOCRATS – Conttinue to STATE the CASE – UNITE the BASE and WIN this RACE in November, 2010!!

    I am the REAL T'SAH from Virginia and NOT that other one who would NEVER approve this message!!!

    September 14, 2010 10:19 am at 10:19 am |
  9. ThinkAgain

    What's with this "credit remains hard to come by" crap?

    We bailed out the banks, they're posting record profits again ... THEY SHOULD BE LENDING TO SMALL BUSINESSES!

    September 14, 2010 10:43 am at 10:43 am |