The rules “will accelerate federal payments, reduce paperwork and make it easier for small firms to access loans and tax credits,” a White House statement said.
Obama is calling on Congress to enact legislation “to raise the amount of investment small businesses can expense next year,” the White House said.
The plans come the same week that Obama revived his call to end the George W. Bush tax cuts for Americans who make more than $250,000 a year.
Republicans said this would amount to a tax hike on small-business owners, making it harder for them to create jobs.
The office of House Speaker John Boehner, R-Ohio, noted that the administration trotted out one order last year, an acceleration of payments to small businesses that subcontract with the government.
“The White House has so little to offer small businesses they’ve resorted to recycling, reusing and repackaging,” said Boehner spokesman Brendan Buck. “This is no solace for small businesses facing a huge tax increase next year under the president’s plan.”
The White House outlined Obama’s proposals:
– Accelerate payments to small business subcontractors: Through the Office of Management and Budget, the President will direct agencies to make contract
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