Boosting Entrepreneurship and New Jobs Act
Latest action · Jan 28, 2010 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 28, 2010
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Boosting Entrepreneurship and New Jobs Act - Amends the Internal Revenue Code to: (1) allow certain small businesses a refundable tax credit for 15% of the first-year wages paid to new employees and a business-related tax credit for employee health insurance expenses; and (2) impose an additional tax on individuals with modified adjusted gross incomes exceeding $500,000 ($1 million for married couples filing a joint tax return) sufficient to render the provisions of this Act budget neutral.
Directs the Administrator of the Small Business Administration (SBA) and the Secretary of the Treasury to jointly establish a loan program for small business concerns (i.e., businesses with fewer than 25 employees).
Amends the Small Business Act to expand: (1) the authority of the Administrator to guarantee small business loans; and (2) the microloan program for women, low-income individuals, veterans, and minority entrepreneurs.
Amends the American Recovery and Reinvestment Act of 2009 to obligate to be expended by September 30, 2010, certain funds for research and development by the National Institutes of Health (NIH).
Amends the Small Business Investment Act of 1958 to increase the maximum loan amounts available to small businesses for plant acquisition, construction, conversion, and expansion.
Expresses the sense of Congress that: (1) the President should designate the SBA Administrator as a member of the Cabinet; and (2) financial institutions that have received financial assistance from the federal government should provide needed capital and loans to small business concerns.
Cosponsors
Members who signed on, in the order they did.
Actions 3
Everything that happened, newest first.
- Jan 28, 2010Introduced in Senate
- Jan 28, 2010Read twice and referred to the Committee on Finance.
- Jan 28, 2010Sponsor introductory remarks on measure. (CR S346-347)
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Business investment and capital
- Commerce
- Department of Health and Human Services
- Employee benefits and pensions
- Federal officials
- Financial crises and stabilization
- Government lending and loan guarantees
- Health care costs and insurance
- Health programs administration and funding
- Income tax credits
- Income tax rates
- Medical research
- Minority and disadvantaged businesses
- National Institutes of Health (NIH)
- Research administration and funding
- Research and development
- Small business
- Small Business Administration
- Veterans' education, employment, rehabilitation
- Wages and earnings
- Women in business
Text 1
Each version as it was printed, newest first.
- Jan 28, 2010Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.