This year, businesses hired nearly 4.5million new workers who were eligible for HIRE Act tax exemptions. The HIRE Act exempts Social Security payroll taxes for businesses that hire workers who have been unemployed for 60 days or longer. In addition, the HIRE Act allows employers to claim a tax credit of up to $1,000 for each newly hired qualifying worker who is retained for one year. For more info... Read more »
Congressman Scott voted for two bills this week that will help grow American small businesses. He voted for the Small Business Lending Fund Act (H.R. 5297) and the Small Business Jobs Tax Relief Act (H.R. 5486). These measures will expand much needed lending to small businesses and offer tax incentives to help small businesses grow, hire, and fuel our economy. “Small businesses are the engine of o... Read more »
Congressman Scott voted for the American Jobs and Closing Tax Loopholes Act, H.R. 4213. This measure will help create or save more than a million American jobs by restoring credit to small businesses, extending tax incentives for American Research and Development (R&D) and energy, rebuilding American infrastructure, expanding summer jobs for young people, and providing tax relief for middle class ... Read more »
The Affordable Care Act created a new tax credit for biotechnology research, which will grow jobs, save lives, and bring down health care costs. As part of the review process for research projects, the Department of Health and Human Services (HHS) will evaluate each project for its potential to produce new therapies, address unmet medical needs, reduce health care costs or advance the goal of curi... Read more »
Today, the New Democrat Coalition unveiled a comprehensive agenda aimed at encouraging innovation and boosting small businesses. The Innovation and Entrepreneurship Agenda builds upon the New Democrats' long standing commitment to policies that embrace technology and innovation to drive sustainable economic growth, competitive businesses and a strong workforce. "Small businesses in America are vi... Read more »
On March 24, Congressman Scott voted for two bills that help small businesses: the Disaster Relief and Summer Jobs Act (H.R. 4899) and the Small Business and Infrastructure Jobs Tax Act of 2010 (H.R. 4849). Both measures passed the House. In addition to these two bills, Congressman Scott has also supported other measures to help small businesses: The HIRE Act (H.R. 2847), the American Recovery and... Read more »
The facts about small businesses and health care reform: · Health care reform will help small businesses obtain health insurance. It allows small businesses with 100 employees or less to pool their risk and benefit from group rates and a greater choice of insurers. · Reform means tax credits for small businesses. Small businesses with 25 employees or less and average wages of less than $50,000 wil... Read more »
Tomorrow, Federal Reserve Chairman Ben Bernanke will testify before the House Financial Services Committee. Congressman Scott is a member of the committee and looks forward to hearing from the chairman about the state of the economy and bank reform. Congressman Scott believes that consumers need access to affordable credit and that economic recovery should also include reform of the current bankin... Read more »
Rep. David Scott (D-GA) released the following statement today in support of the Credit Cardholders' Bill of Rights Act, which passed the House today with bipartisan support and will now go to the President for his signature. “In recent months every American, from homeowners to bankers, have felt the effects of a down economy and a strained credit industry,” stated Rep. Scott. “And while the credi... Read more »
