Taking The Hill
Superfund Reform Passes House Subcommittee
The United States House Transportation and Infrastructure Water Resources and Environment Subcommittee recently approved a Superfund reform bill on a bipartisan vote of 22-9. The bill, H.R. 1300, the Recycle America's Land Act of 1999, was introduced by Rep. Sherwood Boehlert (R-N.Y.) earlier this year. The measure would authorize $1.5 billion through fiscal year 2004 for the Superfund program and includes important liability shields for small businesses, innocent landowners, prospective purchasers of contaminated property and contiguous property owners.
Reform of the Superfund program has recently come into the spotlight. A newly released congressional report shows that less than half of the money budgeted for Superfund toxic waste removal is spent on actual site cleanups, and a growing proportion goes for administrative costs. This legislation would make great strives to ensure that money budgeted for Superfund cleanup is actually used for that purpose.
Small Business E-Commerce Forum
The Automotive Service Association (ASA) participated in a U.S. Senate Small Business Committee forum on electronic commerce hosted by the chairman of the Senate Small Business Committee, Christopher Bond (R-Mo.).
Several issues relating to e-commerce and the growth of small business were discussed. Several participants emphasized the enormous growth potential that the Internet can provide to an independent small business as well as to the U.S. economy as a whole. They also cited a new report from The Internet Economy Indicators, which indicates that the Internet economy generated more than $300 billion in U.S. revenue and was responsible for creating 1.2 million jobs in 1998.
A result of the enormous growth of the Internet also raised several questions regarding security. The forum concluded that since the Internet is not secure, the small businessperson must be able to perform a good risk assessment of their items of value. A good way to ensure security is to use current encryption resources that are available to small businesses.
"Comp Time" Reform Pushed by Ashcroft
Sen. John Ashcroft (R-Mo.) and other Senate Republicans recently vowed to make a renewed effort for "comp time" legislation that would allow employers to give hourly workers time off instead of overtime pay. Ashcroft's proposal would also allow employers to schedule employees for 80 hours of work over two weeks instead of the current 40 hours each week. Ashcroft, who faces a stiff re-election challenge from Democratic Gov. Mel Carnahan, said he plans a new push for his bill. But Senate aides earlier this year said Republicans would put the idea on hold until the next Congress because last year's effort failed to overcome a Democratic filibuster when even some Republicans voted
against it.
Veterans' Business Development Center Pushed by House Committee
The House Small Business Committee advanced a bill that would assist in the development of small businesses owned by veterans.
The measure would create within the Small Business Administration a National Veterans' Business Development Center that will focus on promoting a network of assistance to veteran-owned small businesses through public and private sector initiatives. The measure also calls for debt referral of education loans for all active duty veterans injured while on duty. An annual report to determine the effectiveness of the development center will also be required.
House Introduces Tax Bills
Several tax bills have been introduced this session of Congress that are aimed at reducing the tax burden for small businesses.
One important bill introduced by James Talent (R-Mo.), U.S. House Small Business Committee chairman, contains several important components that address small business tax priorities. The bill would immediately increase the health insurance deduction for the self-employed to 100 percent. Second, it would increase the meal expense deduction for small businesses gradually to 80 percent. Third, the legislation calls for an increase in small business expensing from $19,000 to $35,000. Fourth, it would reduce payroll taxes by repealing the unnecessary 0.2 percent Federal Unemployment Payroll Surtax. Fifth, the bill would reduce the top individual income tax rate from 39.4 percent to 34 percent on the active business income of small businesses. Finally, the legislation would allow small businesses to use the cash method of accounting without limitation.
USA Today Misses Clean Air Mark || Fleeting Thoughts || Refinishing Nightmares || Designing Your Own Tech || Guest Editorial || Tech to Tech || Tech Tips || News Briefs || Taking the Hill || Around ASA || Net Worth || Stat Corner || Shop Profile || Chairman's Message
AutoInc. Magazine ® Vol.XIVII, August 1999
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