Kay Hagan: “I rise today to speak in support of the Small Business Tax Cut and Job Creation Act. Families throughout North Carolina…”

“I rise today to speak in support of the Small Business Tax Cut and Job Creation Act. Families throughout North Carolina are facing a difficult economy right now. I have said repeatedly that the people of our State cannot wait until after the election for Congress to work on solutions to speed up our economic recovery. That is why I am pleased the Senate has agreed to consider this small business legislation. This is a bill that will help North Carolinians get back to work this year in industries such as health care, finance, construction, manufacturing, and retail. This legislation supports businesses that expand payroll or invest in new equipment, and there are estimates that it will put 27,000 unemployed people in my State back to work. It does this by creating an incentive for North Carolina small businesses to add new jobs in 2012 by giving businesses a 10-percent income tax credit on new payroll. And it encourages businesses to make new investment by extending the 100-percent business deduction on qualified property. Providing real tax relief that lowers the cost of doing business should be a bipartisan idea and it is one I will support. I also want to express my deep appreciation to the Small Business Committee chair, Senator Landrieu, for including a proposal of mine in her SUCCESS Act amendment.…”