|By JOYCE M. ROSENBERG, AP Business Writer|
Parts of the health care law are likely to be debated. And lawmakers and the
"Small businesses are looking for government to function and get a lot more done," says
But bills friendly to small businesses may not be a slam-dunk. Senate Democrats will have enough votes to filibuster and block
TAX HELP SOUGHT
Obama and Republicans support a reduction in the corporate tax rate from the current 35 percent.
But small businesses might not benefit from that, because many company owners are sole proprietors, partners or shareholders in companies who report business income on personal returns.
It's not known how many people fall into those categories, as the
A corporate rate reduction might be accompanied by the elimination of some business deductions, leaving many one-person companies and partnerships at a further disadvantage, says
Small business tax deductions are also likely to be taken up by legislators. The
Another break that might become permanent is bonus depreciation, which accelerates the amount any business can deduct for property including buildings and equipment.
A similar bill was introduced in late July but made little progress.
Separately, the SBA plans to launch an online system during the second quarter that simplifies the lending process. It's expected to encourage more banks, particularly smaller ones, to make SBA-backed loans, says SBA Administrator
"It's streamlined in terms of there's no paper," Contreras-Sweet says.
The owners of
Their financial records were in order, but they had to produce documentation to prove
"I was unprepared for how much paperwork would be involved and how time-consuming it would be," says
HEALTH CARE ROLLBACK?
Republicans are expected to try to repeal the health care law but Obama will veto a bill if it passes
A section of the law whose repeal has bipartisan support is a 2.3 percent tax on the sale of medical devices, items ranging from examination gloves to X-ray machines. Opponents say the tax hurts manufacturers, including small businesses. Expect the
Another expected target: The requirement that companies that must offer insurance make it available to employees working 30 or more hours a week. Opponents want that threshold raised to 40 hours.
"As long as we don't undermine the intent of the law, I think that's something we should take a look at," says Sen.
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