Press Releases
Luetkemeyer Thanks Small Businesses for Contributions to Nation's Economy
Washington, DC,
May 26, 2010
Marking National Small Business Week, U.S. Rep. Blaine Luetkemeyer (MO-9) today showcased the importance of small businesses in revitalizing our nation's economy and creating jobs.
Marking National Small Business Week, U.S. Rep. Blaine Luetkemeyer (MO-9) today showcased the importance of small businesses in revitalizing our nation’s economy and creating jobs. During a hearing of the House Small Business Committee, Luetkemeyer highlighted small businesses that have succeeded despite the difficult economy. Luetkemeyer invited Brad Eiffert, the owner and manager of Boone County Lumber Company, to share his thoughts with the committee. Luetkemeyer has met with hundreds of small business owners throughout the District and continues to hear their concerns about the negative impact of a national energy tax and the new health care law on small businesses. “Our nation’s small businesses are the backbone of our nation’s economy and will lead the way to job growth and economic prosperity,” Luetkemeyer said. “The people’s elected representatives need to ensure that any action we take in Washington doesn’t cause needless harm to our nation’s number one job creators-- our small businesses and their employees.” Luetkemeyer has supported numerous pieces of legislation to strengthen our small businesses. He has cosponsored the Small Business Liability Reform Act of 2010, which would limit liability costs to small businesses by reforming the litigation process and reducing insurance costs to small business owners. He also backs the Small Business Paperwork Mandate Elimination Act, which would provide relief to small business owners who would otherwise face a great tax reporting burden under the recently enacted health care bill. Section 9006 of the new health care law requires business owners to submit a separate 1099 reporting form for every single business-to-business transaction that totals more than $600 in a given year. Under current law, businesses must report services performed by non-corporate entities. The health care bill expands that requirement by extending it to corporate vendors and by mandating reporting for goods and gross revenues. Additionally, Luetkemeyer has sponsored two pieces of legislation that have cleared the House to make the SBA’s programs more responsive to the needs of our small business men and women. The House passed both pieces of legislation in a strong bipartisan vote. His Expanding Entrepreneurship Act of 2009, part of the Job Creation through Entrepreneurship Act of 2009, makes several changes to the SBA’s entrepreneurial development programs and at no cost to taxpayers. The bill passed 406-to-15 in the House. His Small Business Investment Company Modernization and Improvement Act of 2009, part of the Small Business Financing and Investment Act of 2009, updates and streamlines the SBA’s largest investment program. The bill passed 389-to-32. ###
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