Tax Law Updates | New Proposed Legislation
June 21, 2010
House of Representatives Approves the Small Business Jobs Tax Relief Act to Provide Tax Cuts for Small Businesses
Small Business Jobs Tax Relief Act of 2010
H.R. 5486, 6/15/2010
The U.S. House of Representatives has approved H.R. 5486, the Small Business Jobs Tax Relief Act of 2010, by a bipartisan majority of 247-170.
The House touts the legislation as a bill that would provide much-needed tax cuts for small businesses to help them grow and create new jobs. H.R. 5486 is companion legislation to H.R. 5297, the Small Business Jobs and Credit Act, which will enhance lending opportunities for small businesses. Both pieces of legislation are fully offset by closing existing tax loopholes and will not add to the deficit, according to Ways and Means Acting Chair Chair Sander…
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View a PDF of the proposed legislation
