Washington - President Bush is seeking billions in new tax breaks to help spur America's small business claiming that an "entrepreneurial climate" would create new jobs and help pull the country out of an economic slowdown.

In addition to tax relief, Bush also wants to encourage small businesses to band together and provide health care for employees, a strategy he contends would expand coverage to more people and subsequently lower business costs.

The President also resurrected a proposal that would allow small businesses to increase the cost of machinery and equipment that can be deducted in one year to $40,000, from $25,000

- Electronic Accountant Staff

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access