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Blog Category: American Jobs Act

Acting Secretary Blank, SBA Administrator Mills, Mayor Nutter Highlight Federal Support for Philadelphia’s Entrepreneurs and Small Businesses

Acting Secretary Blank, SBA Administrator Mills, Mayor Nutter, CEO Desh Deshponde at NACIE in Philadelphia (Photo: Jason Heritage, Ben Franklin Partners)

Acting U.S. Commerce Secretary Rebecca Blank, along with Small Business Administration Administrator Karen Mills, Philadelphia Mayor Michael Nutter and Assistant Secretary of Commerce for Economic Development John Fernandez, addressed the media today in Philadelphia in conjunction with a meeting of the National Advisory Council on Innovation and Entrepreneurship (NACIE) to discuss federal support for area entrepreneurs and small businesses, research and commercialization efforts in the private sector, and the President’s American Jobs Act. 

The event was held before a crowd of local business leaders at The Navy Yard - a business incubator and home to the new Greater Philadelphia Innovation Cluster for Energy Efficient Buildings.

"The Navy Yard is a prime example of both a growing regional innovation cluster and the value of public-private partnerships that support innovation and entrepreneurship," Acting U.S. Commerce Secretary Blank said. "It is part of the rebuilding of America's very economic foundation with investments in the building-block priorities that will help ensure the U.S. is home to the industries of the 21st century and the jobs they support."

Blank called for swift passage of the President’s American Jobs Act to help put more people back to work and put more money in the pockets of working Americans. The plan calls for cutting in half the payroll tax that comes out of every worker's paycheck, saving families an average of $1,500 a year. It also provides a payroll tax cut to 98 percent of businesses and eliminates the payroll tax on a firms’ new hires or employees to whom they give a raise.

President Obama’s American Jobs Act Is a Win for Workers and Employers

Image of President Obama and AJA logo

Last night President Obama explained his proposal for putting creating jobs now and putting Americans back to work before Congress. In addition to giving the economy a shot in the arm with more money in the pockets of working Americans, his proposed American Jobs Act has several new ideas, backed by both Democrats AND Republicans, which are a win for businesses and employers. The President is focused on rebuilding the economy the American way, through the ingenuity and hard work of the American people.

Businesses and employers stand to win under the President’s American Jobs Act in various ways.

It offers tax relief:

  • A payroll tax cut for 98 percent of small businesses
  • A complete payroll tax holiday for added workers or increased wages
  • Extending 100 percent capital expensing into 2012
  • Reforms and regulatory reductions to help entrepreneurs and small businesses access capital

Financial rewards for hiring workers:

  • A tax credit from $5,600-$9,600 for hiring of unemployed veterans
  • New contracts for modernizing public schools, homes and businesses
  • A bipartisan-supported National Infrastructure Bank which provides capital and contracts to upgrade and build vital roads, rails and airports.
  • A $4,000 tax credit for hiring long-term unemployed workers
  • Allowing workers to earn unemployment insurance if they choose to work share over layoffs.

Learn more about the benefits of the American Jobs Act.

Chatting with Citizens in Cincinnati about President Obama’s Job Plan

Acting Secretary Rebecca Blank enjoys Graeter's Ice Cream while on a tour with CEO Rich Graeter. Also enjoying the ice cream is Cincinnati Mayor Mark Mallory.

Guest blog post by Dr. Rebecca Blank, Acting Secretary of the U.S. Department of Commerce.

First thing this morning, I’ll be on a plane to Cincinnati to join Mayor Mark Mallory for a visit to Graeter’s Ice Cream, a locally and family owned ice cream company founded in 1870. At Graeter’s, I'll explain the details of President Obama’s American Jobs Act, specifically how it will spur economic growth and accelerate job creation. 

After my tour (and hopefully a sample or two of that ice cream), I will host a White House Business Council roundtable discussion with local business leaders to discuss the jobs plan in further detail, challenges facing America’s business community, ways to improve U.S. economic competitiveness and the help that is available to businesses from agencies across the federal government. 

Before the end of the day, I’ll be sitting down with the editorial board of the Cincinnati Enquirer to answer all their questions about President Obama’s jobs plan.

The American Jobs Act is a set of ideas that have been supported by both Democrats AND Republicans that needs to be passed right away. This plan will put more people back to work and more money in the pockets of working Americans. As the folks in Cincinnati will attest, Americans are working hard each and every day to meet their responsibilities. The only question now is whether Washington will meet its responsibilities. The time for obstruction and gridlock is over. Congress needs to pass the American Jobs Act.

UPDATE: Read Acting Secretary Blank's remarks