WASHINGTON, DC--(Marketwire - June 17, 2010) - Yesterday during a press conference to discuss two bills impacting small business, National Association of Women Business Owners' (NAWBO) President and CEO Helen Han joined Speaker of the House Nancy Pelosi, Majority Leader Steny Hoyer, Congressman Gary Peters of Michigan and Congressman Kurt Schrader of Oregon onstage to show NAWBO's support.
The House passed the Small Business Jobs Tax Relief Act of 2010 (H.R. 5486) yesterday and is still considering the Small Business Lending Fund Act of 2010 (H.R. 5297). Han addressed how the legislation would impact the women's business owner community. Two local women business owners and NAWBO Greater DC Chapter members, Molly Gimmel and Jennifer Collins, also shared what the legislation would mean for their small businesses.
"A recent survey of NAWBO members shows that a level of optimism is returning and women business owners are ready to invest in job creation," said Han. "But at the same time, money remains tight and it is important for public policy decision makers to move legislation like this forward on behalf of women business owners, small business owners and the overall economy."
The Small Business Jobs and Credit Act and the Small Business Jobs Tax Relief Act are intended to accomplish the following:
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Leverage up to $300 billion in loans for small businesses through a lending fund for small and medium-sized community banks (under $10 million), which traditionally focus their business on lending to small businesses, along with state lending programs. A few public dollars can generate substantial private bank financing. Under the bill, banks would be required to repay funds over 10 years, and tough performance-based incentives would make sure that these banks lend to small businesses.
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Help restart private investment for emerging small businesses in high growth fields -- the businesses most likely to produce new products, grow rapidly and generate new jobs -- through a new U.S. Small Business Administration public-private partnership.
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Provide $3.5 billion in bipartisan tax incentives to spur investment in small businesses and the formation of new small businesses, and grant small business tax penalty relief.
For the complete text of this legislation, visit www.rules.house.gov.
To read Speaker Pelosi's remarks during the press conference, visit http://www.speaker.gov/newsroom/pressreleases?id=1748.
To view a video of the press conference, visit http://www.realclearpolitics.com/video/2010/06/16/pelosi_small_business_owners_have_
a_lot_of_confidence.html.
NAWBO has focused on public policy issues of national and statewide interest impacting women entrepreneurs and small businesses since 1975. By attending White House events, providing Congressional testimony, holding advocacy conferences, developing reports, and educating members, NAWBO has consistently brought the concerns of women business owners to lawmakers in Washington, DC.
In 1988, NAWBO played a key role in the passage of The Women's Business Ownership Act, also known as H.R. 5050. This landmark legislation allowed women to receive business loans without the co-signature of a male relative. H.R. 5050 also created the National Women's Business Council, a body of women entrepreneurs and women's organizations that provides counsel to the President and Congress. Today, NAWBO has focused its advocacy strength and reach on four key issues: Access to capital; increased federal procurement; affordable health care and fair; and equitable tax treatment. Following an April 2010 visit by members of NAWBO's Public Policy Committee, Sen. Olympia Snowe (R-Maine) introduced S 3399 to address limitations in federal contracting opportunities for women-owned businesses.
ABOUT NAWBO
Founded in 1975, NAWBO propels women entrepreneurs into economic, social and political spheres of power worldwide. More than 35 years later, NAWBO is still the only organization that solely represents the interest of women entrepreneurs in all industries. The organization's mission is to strengthen the wealth-creating capacity of its members and promote economic development; to create innovative and effective change in the business culture; to build strategic alliances, coalitions and affiliations; and to transform public policy and influence opinion makers. To learn more about NAWBO, visit www.nawbo.org.
Documents and/or Photos available for this release:
NAWBO takes the stage at press conference for small business jobs, credit and tax relief acts.
To view supporting documents and/or photos, go to www.enr-corp.com/pressroom and enter Release ID: 260366