Obama Unveils Job Creation Measures
Obama Unveils Job Creation Measures
President Obama announced a new program called Startup America on Monday, designed to cut into the nation's high unemployment rate by encouraging the creation of startup businesses. The administration hopes to get private businesses involved, and IBM, Intel, and TechStars have already pledged significant sums to the program.
The program consists of a $2 billion portion of the Small Business Administration's budget which officials hope will be matched by private sector investment firms and businesses. The White House also hopes to reduce barriers to success for small businesses and accelerate research.
Officials also announced that they will permanently eliminate capital gains taxes on key investments in small businesses, a temporary provision passed last September. The tax will be permanently eliminated in President Obama's fiscal 2012 budget proposal, due in two weeks.
President Obama announced a new program called Startup America on Monday, designed to cut into the nation's high unemployment rate by encouraging the creation of startup businesses. The administration hopes to get private businesses involved, and IBM, Intel, and TechStars have already pledged significant sums to the program.
The program consists of a $2 billion portion of the Small Business Administration's budget which officials hope will be matched by private sector investment firms and businesses. The White House also hopes to reduce barriers to success for small businesses and accelerate research.
Officials also announced that they will permanently eliminate capital gains taxes on key investments in small businesses, a temporary provision passed last September. The tax will be permanently eliminated in President Obama's fiscal 2012 budget proposal, due in two weeks.
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