The following quote can be attributed to Mike Keown, Republican candidate for Georgia’s 2nd congressional district, regarding Congressman Sanford Bishop’s release today in support of small businesses:
“Congressman Bishop sent out a release today bragging about his $30 billion dollar vote for Small Business Loans. He just doesn’t get it. Small businesses are going under because of regulations and roadblocks that have been forced down their throats from this Congress and the Democrats refusal to do anything about jobs. It is now almost certain that small businesses will have to absorb one of the largest tax increases in US history on January 1 and the Obama Healthcare bill, which will add 8%-12% to their bottom line. They don’t need a loan or a handout, small businesses need for the government to get out of their way and allow them to prosper. This simply won’t happen until we get rid of career politicians like Speaker Pelosi and Sanford Bishop. “
“Furthermore, Sanford Bishop has yet to face the reality that he has funneled money to his family and friends through earmarks and scholarships. He continues to run from both his voting record as well as his history of nepotism. As more and more people in Southwest Georgia come to know the truth about Sanford Bishop, they understand it’s time to make a change.”
Congressman Sanford Bishop’s release is clearly stated below:
BISHOP SUPPORTS INVESTMENTS IN SMALL BUSINESSES AND JOBS
Washington, DC – Congressman Sanford D. Bishop, Jr. (GA-02) voted to support the Senate-passed version of H.R. 5297, the Small Business Jobs Act. The legislation establishes a $30 billion Small Business Lending Fund in the United States Department of Treasury to provide community banks (those holding $10 billion or less in assets) with capital to increase small business lending. It also invests $1.5 billion in grants to support $15 billion in new small business lending through already successful state programs. The U.S. House of Representatives approved the legislation by a vote of 237 to 187, sending it to the President for his signature.
“Small businesses have been hit hard by the recession – losing more than six million jobs since December 2007,” said Congressman Bishop. “They are being starved of the capital they need to grow and create new jobs. This bill supports entrepreneurs and businesses in Southwest Georgia by easing the credit crunch and providing robust incentives for investment to bolster small business and help get Americans back to work.”
In addition, the Senate-passed version of H.R. 5297 includes tax cuts that will double and enhance small business expensing and extend bonus depreciation; allow for 100% exclusion of capital gains on investments in small business; double the deduction for start-up expenditures; and allow self-employed taxpayers to deduct health costs for payroll purposes.
On August 16, 2010, Congressman Bishop hosted a Small Business Lending Forum in Albany, Georgia, where he brought together small businesses, banks, non-profit organizations, state and local officials, and the U.S. Small Business Administration to discuss strategies for securing a small business loan in this challenging economic climate. America’s 27 million small businesses – of which 868,000 are located in Georgia – continue to face a lack of credit and tight lending standards. The number of small business loans has been down nearly five million since the financial crisis began in 2008 under President Bush.