Rep. Johnson introduces bill to create jobs, cut taxes for entrepreneurs

WASHINGTON, D.C. – Today, U.S. Rep. Hank Johnson (D-GA-04) introduced the Help Entrepreneurs Create American Jobs Act, H.R. 4032, which will double the tax cut for start-up businesses.

The bill is part of President Obama’s Startup America Agenda and is supported by all three major chambers of commerce in Johnson’s district – the DeKalb, Conyers-Rockdale and Gwinnett chambers.

Johnson’s bill would permanently double the first-year startup expenses deduction from $5,000 to $10,000. It will also increase the ceiling at which deductions begin to phase out from $50,000 to $60,000.

“Creating jobs and supporting American entrepreneurs should be our No. 1 priority in Congress,” said Johnson. “We must put party bickering aside and make it easier for Americans to start small businesses.”

In his letter of support, President of DeKalb Chamber of Commerce Leonardo McClarty said the bill “encourages small business growth” and would mean “more job opportunities for a robust and talented labor pool” would help “small businesses stay competitive with larger companies” and bring “increased cash flow in our local economy.”

“DeKalb County and all metro Atlanta citizens need this (bill) now more than ever,” said McClarty.

Congressmen John Lewis (GA-05), Gerry Connolly (VA-11), and Jim McDermott (WA-07) are co-sponsors of the bill. Among the organizations supporting the bill are The National Federation of Independent Business, The National Association for the Self-Employed and The DeKalb Chamber of Commerce, The Conyers-Rockdale Chamber of Commerce and The Gwinnett County Chamber of Commerce.

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