During the First Session of the 112th Congress, Members introduced various bills designed to help spur job creation, particularly in emerging industries such as technology and green energy. Below are some examples of legislation and their sponsors introduced to date:
The Internal Revenue Service encouraged taxpayers to guard against being misled by unscrupulous individuals trying to persuade them to file false claims for tax credits or rebates.
The IRS has noted an increase in tax-return-related scams, frequently involving unsuspecting taxpayers who normally do not have a filing requirement in the first place. These taxpayers are led to believe they should file a return with the IRS for tax credits, refunds or rebates for which they are not really entitled. Many of these recent scams have been targeted in the South and Midwest.
New Online Free Trade Agreement Tariff Tool Will Help Small Businesses Take Advantage of Export Opportunities
More than a quarter million American small businesses export from across all fifty states. They sell U.S. products and services around the world - thereby increasing their revenues, broadening and diversifying their customer base, and supporting good jobs in their communities. A particular priority of President Obama's National Export Initiative (NEI) is to expand exports by small businesses. This will contribute to his goal of doubling U.S. exports by the end of 2014 in order to support two million additional jobs for American workers. We invite more small and medium-sized businesses to join us in this national effort to grow our economy through exports. To help do that, the Office of the U.S. Trade Representative, the Department of Commerce and the Small Business Administration have unveiled a new Free Trade Agreement (FTA) Tariff Tool. This is a free online tool available to businesses and the public for the first time.
A best-kept secret is that domestic trade shows are great places to meet and sell to international buyers. U.S. businesses that have discovered this relatively low-cost channel for drumming up new sales claim that exhibiting at the “right” shows can fill their order books for the entire year.
It may sound counter intuitive to make international sales without leaving the U.S., but the fact is that international buyers are attracted to large trade shows in the U.S. And let’s not forget the draw of Las Vegas, Chicago, Miami and other big trade show venues.
Exporting U.S. innovation, products and services is a top priority for the Obama administration, and MBDA is putting the spotlight on how minority-owned businesses are growing and thriving overseas so that we can be more prosperous here at home.
Recently, President Obama held an economic summit in Puerto Rico, organized in part by MBDA and the U.S. Department of Commerce. MBDA National Deputy Director Alejandra Castillo and our partner the Puerto Rico MBDA Business Center were integral in the success of the summit where President Obama’s Task Force on the Status of Puerto Rico made its final recommendations to boost job creation on the island. The Task Force recommended that MBDA continue to aid job creation and innovation by helping to facilitate public-private partnerships to finance the Integrated Bio-refinery Program. This program—which aims to create biofuels from sugar cane—will allow America to grow our own fuel and grow jobs at the same time.
This month, the U.S. Census Bureau released the final data from the 2007 Survey of Business Owners (SBO), which offers a wellspring of data on the characteristics of minority-owned businesses in the United States. One characteristic that is sure to have a profound effect on our efforts to double exports over the next five years is that the minority business community continues to lead in global commerce.