Bills The House Has Acted On That President Obama Included In His Small Business Package

Posted by Brian Patrick on

(Courtesy of Speaker Boehner's Office)

 

Expand Mini-Offering Limits: The President is calling to raise the offering limit under Regulation A from $5 million to $50 million, coupled with strong investor protections.

  • The House has already acted on : the Small Company Capital Formation Act – Passed the House November 2, 2011

Crowdfunding: The President is calling for a national framework that allows entrepreneurs and small businesses to raise capital through “crowdfunding.”

  • The House has already acted on: the Entrepreneur Access to Capital Act – Passed the House November 3, 2011

Extend 100 Percent Depreciation: The President is proposing to extend 100-percent first-year depreciation for one year, effective for qualified property acquired and placed in service before January 1, 2013.

  • The House has already acted on: the Middle Class Tax Relief and Job Creation Act – Passed the House December 13, 2011

Eliminate Country-Specific Caps: The President is calling for a balanced approach to eliminate country-specific caps for certain immigrant visa categories to attract more high skilled foreign workers, including entrepreneurs.

  • The House has already acted on: the Fairness for High Skilled Immigrants Act – Passed the House November 29, 2011

Creating an “IPO on-ramp”: The President is calling for changes in how our current securities laws and regulations are phased in for smaller, young companies in their first years after going public in an initial public offering (IPO).

  • The House is currently acting on: the Reopening American Capital Markets to Emerging Growth Companies Act of 2011 – House Financial Services Committee held a hearing December 15, 2011

Further, the President is calling for Cutting taxes for small businesses:

  • House Republicans’ Pledge To America includes giving small businesses a tax deduction equal to 20% of their business income, and we expect to act on that this year.




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