Senator Gillibrand calls for small business tax break
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TROY, N.Y. -- Senator Kirsten Gillibrand is touting legislation that would help small businesses. The senator was at Market Block Books in Troy on Friday. She detailed legislation that would extend tax breaks for small businesses.
Several tax cut provisions expired at the beginning of this year and Gillibrand, along with several other senators, is working on a bill to extend the cuts. In addition, the Small Business Tax Extenders act would provide incentives to invest in small business stock, and increase deductions for start-up expenses.
“We have to help our businesses grow. Everyone knows the American dream is started by a strong middle class, and the middle class is strengthened by small businesses, by our agricultural sector, by our manufacturing sector. So a common sense bill like what we're talking about today can literally make the difference,” said Sen. Gillibrand.
Senator Gillibrand says part of the legislation is geared towards women-owned small businesses, which are among the fastest growing segments of the economy.
Gillibrand is running for re-election in November. She's being challenged by Wendy Long, who recently won the Republican primary for the right to challenge Gillibrand.