Issue Position: Creating Jobs - Small Businesses

Issue Position

With 22 years of business experience, Gary Peters knows firsthand that our small businesses, innovators and entrepreneurs comprise the true engine of job creation and growth. Two out of every three new jobs in this country come from small businesses. These small businesses and innovators need a tough advocate in their corner. They also need a plan to help them grow and succeed.

Because of the collapse on Wall Street, big banks are refusing to lend to small businesses and entrepreneurs. This lack of lending is one of the biggest problems facing small businesses and it is one of the largest obstacles to creating jobs and Michigan's economic recovery. Action is needed now. Peters is pushing both Democrats in his own party and Republicans to support his plan to take money from the Wall Street bailout and instead use it to increase lending to small businesses so they can expand and create jobs. The failure of Wall Street should not hold our small businesses on Main Street hostage. This plan will create the necessary environment for small businesses to expand and hire.

Peters also wrote and passed legislation to expand tax credits for small businesses and innovators in hard-hit states like Michigan. He supports zero interest loans of up to $75,000 for small business in high unemployment states that create jobs and voted to cut taxes for small businesses to make it easier for them to hire new workers.

Peter's Small Business and Entrepreneur Jobs Plan includes:

* Taking money back from the Wall Street bailout and using it to help small businesses and innovators on Main Street get the lending they need to grow;

* Cutting taxes for small businesses that hire new workers or invest in new capital equipment in America;

* Expanding tax credits for small businesses and innovators in hard-hit states;

* Providing ZERO interest loans of up to $75,000 for small business in high unemployment states.

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