Recovery Bill Thin on Micro Policy Goodies
Jan 19th, 2009 | By Dawn R. Rivers | Category: Politics & PolicyOver the next two weeks, the House will be considering the broad, sweeping economic recovery legislation we’ve all been hearing about since Election Day, and several House Committees have released details of the parts of the proposal that fall under their jurisdiction last week. From those slightly more detailed descriptions, it would appear that there is very little in it that will be of direct benefit to microbusinesses.
The only tax proposal in the package that may directly impact most microbusinesses is the “Making Work Pay” tax credit, which will be available to the self-employed. There are the standard provisions, such as proposals to increase expensing and bonus depreciation that may help some but not most. There is more than $550 billion in infrastructure spending that may offer opportunity to microbusinesses in the construction sector. Interestingly, many microbusiness owners expect 2009 to be a very good year and are not looking to the government to create opportunities for them. They are used to being ignored by policy makers. They are used to creating their own opportunities.
