The National Federation of Independent Business has endorsed legislation proposed by Rep. Cory Gardner (R-CO) that would allow people to create tax-deductible savings accounts to start or expand small businesses.
Tony Gagliardi, the NFIB’s Colorado State Director, released the following statement:
"NFIB thanks Rep. Cory Gardner for introducing HR 1180, The Small Business Startup Savings Accounts Act, which will help entrepreneurs and small business owners to plan for future business needs.
"Growing up in a family owned small business, Rep. Gardner knows first-hand the challenges entrepreneurs face in starting and running their own businesses. The 112th Congress is being dubbed the 'small business Congress' because of legislators like Rep. Gardner. NFIB appreciates his keeping our nation's job creators - small business owners - as the focus of his first piece of legislation."
Rep. Gardner thanked the NFIB for its support, saying:
“The NFIB has always been a leader in the mission to promote and protect small business growth and prosperity, and I welcome its support of The Small Business Startup Savings Account Act.
“As we continue to build our coalition of support, I look forward to working with the NFIB on this very important piece of legislation and other ways we can create jobs and jumpstart the economy.”
Details of Rep. Gardner’s proposal:
· Businesses with 500 or fewer employees will be eligible to open a savings account.
· Contributions to the account would be capped at $10,000 per year and the total value of these accounts at any one time would be capped at $150,000.
· As long as the money is used within five years of the first distribution, account holders do not have to worry about fees or penalties.
· Account holders could use the funds for the costs of business creation or expansion, such as the purchase of equipment or facilities, marketing, training, incorporation or accounting costs.
About the NFIB:
The National Federation of Independent Business is the leading small business association representing small and independent businesses. A nonprofit, nonpartisan organization founded in 1943, NFIB represents the consensus views of its members in Washington and all 50 state capitals.
Prairie Gateway re-branded to Victory Crossing {Commerce City}
Commerce City "We need to be sure that we are not left behind in ED..."
Will we ever see Development @ the Prairie Gateway site in Commerce City, CO??? It has been years since the Commerce City Civic Center and Rapids stadium have been built and still no economic development. I guess patience is really a virtue.
