Metavid

Video archive of the US Congress

House Proceeding 04-13-10 on Apr 13th, 2010 :: 1:22:50 to 1:26:40
Total video length: 2 hours 41 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Download OptionsEmbed Video

Views:250 Duration: 0:03:50 Discussion

Previous speech: Next speech:

Steven Kagen

1:22:36 to 1:22:57( Edit History Discussion )

Steven Kagen: august, he was about to lose his job. but then the cash for clunkers came along and sales shot up at his shop and he was able to sustain his employment and continues to this day and continues to be employed. heot past that hurdle. representative kagen, surely

Steven Kagen

1:22:50 to 1:26:40( Edit History Discussion )
Speech By: Steven Kagen

Steven Kagen

1:22:58 to 1:23:18( Edit History Discussion )

Steven Kagen: there are things going on in wisconsin about these tax cuts and the way in which they work. mr. kagen: i would put it into two categories. when we talk about restoring our economy or resuccess tating our economy, it would be small business owners that drive the job creation.

Steven Kagen

1:23:19 to 1:23:39( Edit History Discussion )

Steven Kagen: small businesses are 9 % of all employers in this country. eight out of 10 jobs are coming from small business owners. and we produce 52% of our nation's gross domestic product. look at what the stimulus bill did for small business.

Steven Kagen

1:23:40 to 1:24:00( Edit History Discussion )

Steven Kagen: first, we had a small business administration, section 78504 loans were guaranteed and the federal government moved up. that 9 % guarantee made it possible for small businesses to get access to credit that they needed to continue to survive. another small business advantage was the three-year extension of

Steven Kagen

1:24:01 to 1:24:21( Edit History Discussion )

Steven Kagen: the production tax credit, p.c., 30% of i.t.c. for renewable energy, helping our non-saudi arabian outside of our country energy. renewable energy bonds. extension of depreciation loans.

Steven Kagen

1:24:22 to 1:24:42( Edit History Discussion )

Steven Kagen: expense right away. five-year carry back net operating loss for a small business operator. this is a tremendous boon. you can survive this economic recession. mr. garamendi: that is a tax reduction in the early years in aluge those expenses to be -- in

Steven Kagen

1:24:43 to 1:25:05( Edit History Discussion )

Steven Kagen: aluge those expenses to be spread out. mr. kagen: so we understand the importance of small business. i'm co-chairperson of the congressional business owners' caucus. we came up with ways in which the president can begin to lower the cost of labor, error cost of labor means we can compete with our foreign competion.

Steven Kagen

1:25:06 to 1:25:27( Edit History Discussion )

Steven Kagen: we came up with a simple way to do it by reducing the amount of taxes you'll pay. give you a tax credit back if you increase the amount of money you are paying to your employees, rehire people that have been laid off or pay your existing workforce more money.

Steven Kagen

1:25:32 to 1:25:52( Edit History Discussion )

Steven Kagen: that was converted into the hiring act. so the hiring act and the hire act has a tax credit available for small business. we are helping small business. d we've got to do more. what we have done so far has got us to this point, but we have got to do more. we are working with the s.b.a. director to do just that. in northeast wisconsin, business owners are telling me, kagen, we don't want more credit

Steven Kagen

1:25:53 to 1:26:14( Edit History Discussion )

Steven Kagen: necessarily, we need more customers coming in the door. we need more contracts. then we can go to the bank and say we got somebody here who wants us to produce something for them. and that's we focused not only on small business, but on tax cuts for working famili next one i would mention is the

Steven Kagen

1:26:15 to 1:26:38( Edit History Discussion )

Steven Kagen: residenceal energy tax credit, $1,500, improvements that you did on your home in 2009. you have a few days to claim that credit on your tax return for 2009. take advantage of that opportunity. take a look with your tax epareror your accountant. talk to somebody who is preparing your taxes. take a look.

Steven Kagen

1:26:39 to 1:26:41( Edit History Discussion )

Steven Kagen: because you can get up to $1,500

Personal tools

MetaVid is a non-profit project of UC Santa Cruz and the Sunlight Foundation. Learn more About MetaVid

The C-SPAN logo and other servicemarks that may be found in video content are the property of their respective trademark holders. None of these trademark holders are affiliated with Metavid