Letter: Shea-Porter knows key to creating job growth
Congresswoman Carol Shea-Porter is a friend of small business. She introduced the Reward and Encourage New Business Act, a bill to permanently double the tax deduction for new businesses to $10,000.
This is the right way to help both businesses and employment.
According to the Washington Post, job creation is linked to small-business start-ups. Statistics show that start-ups are responsible for most of the net job growth every year.
According to the National Bureau of Economic Research, it’s the start-ups that do most of the hiring and create net new jobs. Bloomberg cited a report by the Kauffman Foundation, which pointed out that “the important element in job creation isn’t the smallness of a business but the newness.”
According to the report, between 1977 and 2005, firms in their first year created an average of 3 million jobs per year. Clearly Shea-Porter did her homework on the best way to create jobs!
In the 111th Congress, Shea-Porter’s legislation passed and became law, but has since expired. House Republican leadership should bring Shea-Porter’s bill to the floor. We need more jobs and we need action from Republicans, not just more empty words!