Barbara’s Blog

Small business owners know that not much has happened in Congress to help them access capital, hire new workers, or take any other steps to improve their bottom lines. Who are the key players in Congress that are in positions to help small businesses and what key actions are pending now?

Here’s a rundown so that you can contact key players to encourage action, as well as keep track of legislation:

Key players
The House’s Small Business Committee is headed by Rep. Sam Graves (R-Mo). The ranking member on the committee is Nydia Velazquez (D-NY). Other committee members include:

• Lou Barletta (R-PA)
• Roscoe Bartlett (R-MD)
• Jaime Herrera Beutler (R-WA)
• Steve Chabot (R-OH)
• Judy Chu (D-CA)
• David Cicilline (D-RI)
• Yvette Clarke (D-NY)
• Mike Coffman (R-CO)
• Mark Critz (D-PA)
• Renee Ellmers (R-NC)
• Janice Hahn (D-CA)
• Richard Hanna (R-NY)
• William Keating (D-MA)
• Steve King (R-IA)
• Jeff Landry (R-LA)
• Mike Mulvaney (R-SC)
• Bill Owens (D-NY)
• Gary Peters (D-MI)
• Cedric Richmond (D-LA)
• Bobby Schilling (R-IL)
• Kurt Schrader (D-OR)
• Scott Tipton (R-CO)
• Joe Walsh (R-IL)
• Alan West (R-FL)

In the Senate, the Small Business and Entrepreneurship Committee is headed by Sen. Mary Landrieu (D-LA); the ranking member on the committee is Sen. Olympia Snowe (R-ME). Other committee members include:

• Kelly Ayotte (R-NH)
• Scott Brown (R-MA)
• Maria Cantwell (D-WA)
• Ben Cardin (D-MD)
• Mike Enzi (R-WY)
• Kay Hagan (D-NC)
• Tom Harkin (D-IA)
• John Kerry (D-MA)
• Carl Levin (D-MI)
• Joseph Lieberman (I-CT)
• Jerry Moran (R-KS)
• Rand Paul (R-KY)
• Mark Pryor (D-AR)
• James Risch (R-ID)
• Marco Rubio (R-FL)
• Jeanne Shaheen (D-NH)
• David Vitter (R-LA)

Key bills
There have been a number of proposals in this Congress to aid small businesses. Key measures to keep an eye on are:

The Small Business Tax Cut Bill (H.R. 9) is a bill that would provide small businesses (up to 500 employees) with a 20% tax cut in order to bolster job creation. The bill would allow eligible businesses a tax reduction of 20% of their active business income. Unfortunately, the Senate is not expected to even consider the measure.

Extension of expired and expiring tax rules—to date, there has been no bill that would extend the tax breaks that expired at the end of 2011 and those set to expire at the end of 2012.

Final thoughts
While large corporations often engage lobbyists to push their agenda; small business owners can’t afford lobbying costs and need to do things on their own. Become more proactive and voice your opinion. Contact your representatives. Support small business advocacy groups, like NFIB and the Small Business & Entrepreneurship Council. If you do nothing, you have nothing to complain about!

Election Day on November 2 is critical to small business. Whatever your party affiliation, or even if you are an independent, your vote is important because this election cycle will help decide policies affecting small business for years to come.

Issues affecting small businesses

In casting your vote, small business issues may not be your deciding factor; social issues and other matters may be paramount for you. But if you want to factor in issues that concern small business, here are some to look at and determine where the candidates stand on them:

• Taxes. Will you face higher income taxes if the Bush tax cuts of 2001 and 2003 are allowed to expire? What about proposed hikes in payroll taxes? What will tax changes mean for your business? Will higher taxes prevent you from creating jobs? How will estate tax laws impact succession planning for your business?

• Health care. Does the “health care reform package” enacted last March reduce your premiums or increase your costs (now or in the foreseeable future)? Do you favor repeal or reform?

• Regulations. What is the cost of government regulations to your business? Do you favor increased or reduced regulations with respect to labor laws and other rules?

• Reporting requirements. What is it costing you to comply with current and new mandates for reporting to the IRS and other government authorities (e.g., the expanded 1099 reporting of business-to-business transactions of $600 or more starting next year)?

• Energy. How much of your budget goes to energy costs? Do policies support changes that could reduce or increase your costs?

Note: Most candidates claim to be pro-small business. The reality is that for many candidates, their policies may not be favorable to small business. It’s up to you to decide where you stand, where the candidates stand, and to cast your vote accordingly.

Resources

Learn which candidates support or oppose issues that are important to you. Here are some sites to help:

• NFIB. Find out about issues and elections, including a list of NFIB-endorsed federal candidates.

• Small Business & Entrepreneurship Council. Review a “scorecard” on how senators and representatives in the 111th Congress voted on key issues.

• U.S. Chamber of Commerce’ Vote for Business. Find candidate comparisons and voting resources.