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JOHN KERRY’S REAL DEAL FOR AMERICA: END BUSH WELFARE FOR BIG CORPORATE INTERESTS AND WEALTHY CONTRIBUTORS AND BOLSTER SMALL BUSINESSES
November 17, 2003
For Immediate Release
Des Moines, IA
Democratic Presidential candidate John Kerry today unveiled his plan to get the small business economy back on track. Small businesses are the engine of the American economy but they have been suffering under George W. Bush. George W. Bush has chosen to help big contributors and wealthy contributors.
John Kerry said, “I’m running for President to make sure more small businesses have more ups than downs – our prosperity and our jobs depend on it. I’m running to replace George Bush’s Raw Deal with a Real Deal that promotes entrepreneurship and small businesses instead of protecting the privileges and perks of big corporations.”
“Over the past two years, the number of small business closures has been greater than the number being started. But George Bush has cut back on help for small businesses and met small business owners’ pleas with a cold shoulder and silence. He has cut taxes for the wealthy and given special favors to special interests. But he has given small businesses the shaft. George Bush has decreased loans to average small companies, trimmed venture capital funding to fast-growing small businesses, and cut small business development assistance that lets businesses like this one grow and prosper.
“Small businesses are anything but small to the men and women that start them – they embody hopes as big as our imaginations. And for the millions of Americans that work in small businesses, they provide jobs at a time when far too many Americans are out of work. America is relying on the job-creating power of small businesses – and we need a President ready to harness that power and bring back jobs.
“Today, I’m unveiling a four point plan to help our small businesses succeed and grow. In a Kerry Administration, small businesses will have a real voice and a seat at the table. We’ll help small businesses and their employees afford health care. We’ll give small businesses the tools they need to succeed. And we’ll strengthen America’s small manufacturers.
John Kerry has chaired the Small Business Committee and understands the importance of entrepreneurship. Today Kerry unveiled a four point plan to help small businesses.
JOHN KERRY’S REAL DEAL FOR AMERICA:
END BUSH WELFARE FOR BIG CORPORATE INTERESTS AND WEATHY CONTRIBUTORS AND BOLSTER SMALL BUSINESSES
Today, John Kerry unveiled his plan to get small business going again. Small businesses are the engine of the American economy but they have been suffering under George W. Bush. George W. Bush has chosen to help big contributors and wealthy contributors. John Kerry has chaired the Small Business Committee and understands the importance of entrepreneurship. He unveiled a four point plan to help small businesses.
GEORGE W. BUSH: SUPPORTING CAMPAIGN CONTRIBUTORS AND BIG CORPORATIONS
$42,000: the average savings members of Bush’s cabinet will save as a result of cuts in the capital gains and dividend taxes. $42,228 is the median household income in 2001.
$116,000 the amount that Vice President Dick Cheney is expected to save in taxes this year.
$100 billion for 16 biggest corporations. Bush proposed repealing the corporate AMT which would have given 16 corporations would receive checks of over $100 million each. $1.4 billion would flow to IBM, $833 million to General Motors, and $671 million to General Electric.
$2 billion: Iraq reconstruction contracts awarded to Haliburton.
BUSH PLAN: A RAW DEAL FOR SMALL BUSINESS
Over the past two years, the number of small business closures has been greater than the number being started. This is not surprising since the Bush business agenda has focused largely on letting big corporations off the hook. In fact, Bush paid for proposals by decreasing loans to average small companies, trimming venture capital funding to fast-growing small businesses, and cutting small business development assistance.
JOHN KERRY: A POSITIVE AGENDA FOR SMALL BUSINESS
(1) Small Businesses A Large Voice in the Kerry Administration
(2) Health Care at One-Third the Cost
(3) Help Small Businesses Get the Tools They Need to Succeed
(4) Strengthen America’s Small Manufacturers
JOHN KERRY: A CHAMPION OF SMALL BUSINESS ENTREPRENEUR. As the former Chairman and current Ranking Member of the Senate Small Business and Entrepreneurship Committee, John Kerry has been a national leader in promoting small businesses growth. Kerry owned his own small business, a cookie and muffin shop – Kilvert and Forbes – that he opened in 1980 with a friend in Boston’s Quincy Market giving him first hand experience of the obstacles faced by small business owners. As President, John Kerry will bring the lessons of owning and working in a small business and his leadership fighting to support small businesses in the Senate to the White House.
I. SMALL BUSINESS WILL HAVE A LARGE VOICE IN THE KERRY ADMINISTRATION
o GIVE SMALL BUSINESS CABINET LEVEL POSITION AND WHITE HOUSE CONFERENCE. As soon as he takes office, John Kerry will reinstate the head of the Small Business Administration to the President’s cabinet, giving small business a seat at the table and a voice among the President’s closest advisors. To enable the President and Administration to learn the top concerns of the nation’s small businesses, John Kerry will convene a White House summit of small businesses and entrepreneurs to develop a plan for addressing those concerns.
o GIVE SMALL BUSINESSES A VOICE AT THE WORLD TRADE ORGANIZATION. To ensure that effects on small businesses are considered in resolving international trade issues, John Kerry will create an Assistant U.S. Trade Representative for Small Business to work directly with the U.S. Trade Representative.
o ENSURE FEDERAL REGULATIONS ARE FAIR FOR SMALL BUSINESS. John Kerry will require each cabinet level agency to annually assess the time and money effects on small businesses of current and proposed regulations and to develop a plan for reducing such impacts, where possible, and where consistent with their purpose and intent. Kerry will also double the operating and research funds available to small businesses’ regulatory watchdog, SBA’s Office of Advocacy.
II. HEALTH CARE AT ONE-THIRD THE COST FOR SMALL BUSINESSES
FEWER SMALL BUSINESSES CAN AFFORD HEALTH CARE. Health care costs are rising about 15 percent this year for those small businesses and often as high as 25 percent. Just 62 percent of businesses employing 10 to 49 people offered a health plan in 2002 whereas about 99 percent of large firms did.
A MORE AFFORDABLE HEALTH PLAN. Small businesses typically spend more on administrative costs and they often see premiums rise when one employee has high health care costs. John Kerry will allow small businesses to join the new Congressional Health Plan, small businesses will be able to provide obtain a better deal for health care.
TAX CREDITS TO MAKE HEALTH CARE TWO-THIRDS CHEAPER. John Kerry is proposing refundable tax credits for up to 50 percent of the cost of coverage to small businesses and their employees. Also giving small businesses access to the Congressional Health Plan will save small businesses approximately 15 percent in health care costs on top of the tax credit – so health care will be two-thirds cheaper for small business employees than it is today.
III. HELPING SMALL BUSINESSES GET THE TOOLS THEY NEED TO SUCCEED
o HELP SMALL BUSINESSES GET FINANCING TO GET OFF THE GROUND. Investing in small business is good bang for the buck. For example, an additional $170 million investment could help make available $28 billion in long-term capital and equity for small businesses, creating 850,000 jobs annually. John Kerry will ensure that small businesses have all the federal support that they need to grow and thrive.
o MORE FEDERAL CONTRACTS FOR SMALL BUSINESSES. Total Federal contracts have increased 7 percent under President Bush, but the small business share of these contracts has decreased by 14 percent. John Kerry will increase the number of Federal contracts that go to small business by increasing the government-wide goal for small business’s share of Federal contracts to 30 percent.
o ASSURE SMALL START-UPS GET THE TOOLS THEY NEED. Start-ups are typically the engine of technology job creation. Today’s technology giants started as an idea in a graduate student’s head and grew out of garages and basements where these minds developed products. John Kerry will help small high-tech businesses compete internationally and protect their intellectual property from big corporations in foreign markets by creating a self-sustaining grant fund to help these small businesses obtain foreign patents.
o HELP FINANCE PROMISING IDEAS. To reward the risk inherent in investing in small companies with big ideas, John Kerry will permit short-term tax-deferral for fast-growing companies to enable them to invest those funds in their businesses to help them grow.
IV. STRENGTHEN AMERICA’S BASE OF SMALL MANUFACTURERS. During the last three years we have lost 2.7 million (or one in every seven) manufacturing jobs nationwide. Both large and small companies have been hurt. To help strengthen America’s small manufacturers John Kerry will:
o RAISING LOAN LIMITS. Increase access to capital for small manufacturers by raising their loan and investment limits within SBA’s successful loan and venture capital programs.
o DOUBLE MANUFACTURING EXTENSION PARTNERSHIP. Help small manufacturers modernize their operations by restoring and doubling funding for the Manufacturing Extension Partnership.
o AN OFFICE OF MANUFACTURING AT SBA. Focus the SBA on addressing the needs of small manufacturers by creating an Office of Manufacturing charged with coordinating Federal and non-federal assistance to this important segment of the economy.
o TRAINING THE NEXT GENERATION OF MANUFACTURERS. Address the skilled worker shortage and improve long-term competitiveness of the manufacturing sector by developing a three-tier manufacturing skills training program for current workers, college students and high school students.
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