Small Business and Infrastructure Jobs Act
The Small Business and Infrastructure Jobs Act will create new small business and construction jobs, spur private sector investment and hiring, and help rebuild infrastructure across the country. The bill, which was sponsored by Rep. Sandy Levin, is another important part of a larger Congressional agenda to create jobs and strengthen our economy. It passed the House on March 24, 2010.
The legislation will help our small businesses thrive by spurring private sector investment and hiring. It will increase the capital gains tax cut for those who invest in small businesses – giving our small businesses the new capital they need to grow and hire more workers. It will also give American entrepreneurs the resources they need to make it easier to start a new business. The legislation includes an extension of the TANF Emergency Fund which has already put over 160,000 Americans back to work and is increasing demand in our economy.
This bill will help create construction jobs by extending Build America Bonds, which provide funding to state and local governments to rebuild schools, hospitals, and sewers in our communities. It will also extend Recovery Zone Bonds for areas with high unemployment so that communities can invest in local infrastructure, job training programs, education, and economic development. The bill is fully paid for by cracking down on foreign corporations that try to evade U.S. tax laws and gain an advantage over American companies that play by the rules.