bizjournals: Elections

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They would kill any attempts to add more tax breakz for healthsavings accounts. HSAs are IRA-likd accounts that can be used for routine medical expenses or retainedas savings. They must be combined with high-deductiblee health insurance plans. Most Democrats see HSAs as just anothe r tax break forthe wealthy, and they’re more likely to rein them in than expand theirt use. Both parties will be watching initiatives in states such as which is attempting to achieve universal health insurancr through both employer andindividual mandates. Economy A Democratic takeover of Congress woulf mean more money for federal programs aimed at helpinbgsmall businesses.
Since 2001, Congress, at Presideng Bush’s request, has slashed the Small Businese Administration’s budget by more than 40 No other agency has been cut so Democrats would restore much ofthis funding. They would resumd the government subsidy forthe SBA’ds 7(a) loan program, for The government-guaranteed loans are now supported solely by fees on borrowera and lenders. Last year, a recordf number of small businesses receivedtheswe loans, but the dollar volume was Democrats blame higher fees for the drop. “The last thingv any entrepreneur needs today is to have to pay more to accesxsaffordable capital,” says Rep. Nydia D-N.Y.
, who would chair the House Small Business Committee if Democratswin control. Democrats also would take aggressivw steps to ensure that small businesses receive morefederalk contracts. That’s one area that could use morecongressional oversight, says WIPP’s Sullivan. For small businesses, she “it’s getting harder and hardef to be afederakl contractor.” Democrats also would take a broader look than Republicanxs at issues affecting small businesses, says Margof Dorfman, president of the U.S. Women’d Chamber of Commerce. A chang in control, she says, “may be very positive.
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