Lodi businesses applaud new small-business tax relief bill

Rep. Jerry McNerney, D-Pleasanton, speaks during a press conference about the passage of the Small-Business Tax Relief Act at Dee Dee's restaurant in Lodi on Thursday. Dee Dee Carpenter, center, the restaurant's owner, and Pat Patrick, left, the Lodi Chamber of Commerce's chief executive officer, also spoke during the conference. (Brian Feulner/News-Sentinel)

Lodi businesses applaud new small-business tax relief bill

By Ross Farrow
News-Sentinel Staff Writer

Friday, February 23, 2007 6:42 AM PST

Comments (11 comment(s))

Dee Dee Carpenter envisions remodeling her restaurant on Cherokee Lane, buying new equipment, gaining customers and adding employees, if a new law to help small businesses is approved by Congress and signed by President Bush.

Rep. Jerry McNerney, D-Pleasanton, said at a press conference Thursday at Carpenter's Dee Dee's Family Dining that the bill is an important one because 68 percent of new jobs are created by small businesses, defined in the bill as companies that earn $500,000 in revenue or less per year.

Carpenter was excited to learn that the House has passed the Small Business Tax Relief Act of 2007, which would give incentives to business owners to hire disadvantaged people, including disabled veterans. Business owners would also be able to deduct improvements to their businesses.

Carpenter has been in business almost five years. She has seven employees, and she hopes that with the passage of House Resolution 976, she will make improvements to attract more customers. In turn, she would be able to hire more employees, thereby stimulating the economy.

The tax relief act was approved by the House last week and is pending in the Senate.

Anything that can put money back into a business person's pocket is a good idea, said Pat Patrick, president and CEO of the Lodi Chamber of Commerce. Patrick said he really likes the provision that allows business owners to buy equipment and deduct expenses.

The bill encourages business owners to employ people 18 to 40 years old from nine targeted groups of disadvantaged people. Carpenter said she has one such employee already — a cook trained at the Salvation Army in Lodi.

McNerney added that the bill would also give farmers more flexibility, making it easier for them to pass on their farms to future generations.

Summary of Small-Business Tax Relief Act of 2007

• Extends the Work Opportunity Tax Credit for qualified workers an additional year. It now expires at the end of 2008. These includes low-income areas with high unemployment.

• Increases the age for eligible workers from 25 to 40 years old.

• Allows restaurant owners to avoid paying increased Social Security taxes for employees when the federal minimum wage rate goes up.

• Allows both spouses who own a business together to receive credit for paying Social Security and Medicare taxes. Under current law, only the filing spouse receives credit for paying Social Security and Medicare taxes.

Source: U.S. House of Representatives

Contact reporter Ross Farrow at rossf@lodinews.com.

First published: Friday, February 23, 2007

Reader Feedback

To: New small business loser wrote on Mar 7, 2007 7:52 AM:

" Did you notice your blog has nothing to do with the story? "

Report Abuse

new small biz owner wrote on Mar 6, 2007 4:07 PM:

" wow, I thought this feedback section would spark an intelligent conversation, actually relating to the topic at hand. I now find that I was grossly incorrect. This T & C person is the only one who actually commented on the story, which got him/her a lot of nasty replies. I have a feeling that an intelligent discussion will not be found here, your childishness has lost a valuable contributor today...too bad. "

Report Abuse

Business Owner wrote on Feb 25, 2007 7:29 PM:

" I guess if T&C throws a tantrum to the newspaper staff, he figures he'll get his way. He has all day to do this anyways. "

Report Abuse

T & C wrote on Feb 24, 2007 6:45 PM:

" Irreversible, you're really irritated. Did your Hummer break down again? LOL "

Report Abuse

T & C wrote on Feb 24, 2007 6:43 PM:

" Hey, Marty and Rich, why do you refuse to print my blogs refuting others and yet let others name call and let their blogs go through? You're really funny! "

Report Abuse

Irreversable wrote on Feb 24, 2007 8:44 AM:

" T&C, Has many irreversable forms of social pathology. He lashes out at enemies with false accusations, falsehoods, unprovable lies, and embellishments, all with destructive intent. His self pity and his inferiority complex shines through with every rant. T&C is a childish man indeed. "

Report Abuse

to T & C attacks wrote on Feb 24, 2007 8:11 AM:

" What color Hummer did you buy? "

Report Abuse

T&C Attacks wrote on Feb 23, 2007 7:08 PM:

" T&C Thanks for proving once again that you have absolutely no understanding of economic principals. Your shallow and uneducated statements continue to flow freely, as do your childish temper tantrums. Please go crawl in a hole. "

Report Abuse

Business Owner wrote on Feb 23, 2007 5:13 PM:

" And you wonder why people "attack" you on these blogs! You're a miserable person who never has anything positive to say. Instead on continuously complaing about how much you dislike "Lodi" maybe it's time you make a difference and volunteer for the community! Or, Karma will hit you full circle! "

Report Abuse

Business Owner wrote on Feb 23, 2007 5:09 PM:

" T&C, it figures that you would be the one now bashing the self employed! You have no life, besides the one here! People who are self employed already have to pay a lot of taxes. We're not all "living it up" like you assume. Maybe you should start a business, instead of sitting on your butt all day, blogging!!! "

Report Abuse

T & C wrote on Feb 23, 2007 12:20 PM:

" I hope this bill is better meant to help the "real" small business owners and not like that last tax break they got for buying a new gas-guzzling Hummer and taking that $25,000 or $35,000 dollar tax write off that came with it. I notice there were many Hummers driving around Lodi shortly after that. That new Hummer and subsequential tax write-off, thanks to us real taxpayers, must've made those "companies" very successful. LOL I notice several "family" wineries took advantage. Wonder why they could afford a new Humer? Now you know why. "

Report Abuse

Comments on this story are now closed.

Archives

Story Tools

Indexes