President Obama is urging Congress to support legislation to expand tax cuts for small businesses and free up capital for startups.
His proposed “Startup America Legislative Agenda,” would eliminate taxes on capital gains in investments in small businesses and provide a 10 percent income tax credit on for new hires or to spur job-creation, double the deductions a startup business could take from $5,000 to $10,000, and extend 100 percent first-year depreciation for qualified property. The President will offer details of his proposals in the fiscal 2013 budget that will be submitted to Congress on February 13.
To read the full, original article click on this link: President Obama: Small Business is Part of His Reelection Strategy
