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Already Halfway There: President Submits to Congress Ideas Already Passed by the House
Posted by Press Office on January 31, 2012 | comments
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House Republicans have spent the last year focused on helping American small businesses expand and create new jobs. Today, the President unveiled a package of ideas designed to do the same – and most of them look strikingly familiar. In fact, many of the ideas endorsed by the President today have already been put forward – and acted on – by House Republicans. The proposals, highlighted below, could already be law if the United States Senate would simply act.  From slashing bureaucratic red tape to easing the tax burden for small businesses, the House has done its work, while the Senate has consistently blocked House-passed legislation.  Republicans appreciate the President sending these bills to Congress today, but perhaps to speed the process along, he should simply submit them to the Senate – now the last roadblock to helping American small business job creators.

The President proposes to “Expand Mini-Offering Limits,” while the House has already acted on:

  • The Small Company Capital Formation Act, introduced by Rep. David Schweikert (R-AZ) – Passed the HouseNovember 2, 2011

The President proposes “Crowdfunding,” while the House has already acted on:
  • The Entrepreneur Access to Capital Act, introduced by Rep. Patrick McHenry (R-NC) – Passed the HouseNovember 3, 2011

The President proposes to “Extend 100 Percent Depreciation,” while the House has already acted on:
  • The Middle Class Tax Relief and Job Creation Act, introduced by Rep. Dave Camp (R-MI) – Passed the HouseDecember 13, 2011

The President proposes “Relieving the backlog of immigrant visas,” while the House has already acted on:
  • The Fairness for High Skilled Immigrants Act, introduced by Rep. Jason Chaffetz (R-UT) – Passed the HouseNovember 29, 2011

The President proposes Creating an “IPO on-ramp,” while the House is currently acting on:
  • The Reopening American Capital Markets to Emerging Growth Companies Act, introduced by Rep. Stephen Fincher (R-TN) – House Financial Services Committee held a hearing December 15, 2011

Further, the President is calling for “Cutting taxes for small businesses,” while House Republicans’ Pledge To America already includes:
  • Giving small businesses a tax deduction equal to 20% of their business income, an idea expected to be acted on this year.
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