President Barack Obama's 2013 budget proposal, released today, follows through on some of the promises he made in his State of the Union address last month to help small businesses create more jobs, and reduce barriers to manufacturing in the U.S.
The proposed budget also calls for raising hundreds of billions of dollars from U.S.-based global companies, while ending cherished deductions and tax breaks for oil companies and other big firms.
Resembling previous proposals from the White House, the latest plan renews Obama's focus on raising taxes on the wealthy and reining in corporate tax avoidance.
"Small business owners struggled through a recession we didn't cause, yet we still lead the economy in job creation, said Frank Knapp, President and CEO of the South Carolina Small Business Chamber of Commerce and Vice Chair of the American Sustainable Business Council.
“So it's good to see the President propose steps that small business owners know will really jumpstart the economy — investing in infrastructure to create blue-collar jobs, keeping valuable service providers on the job, bringing manufacturing jobs back home and covering the cost by asking the wealthiest and big corporations to pay their fair share in taxes.”
Some of the proposals in the budget that will affect small business owners include:Page 1 of 3 | Next Page