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Boulder City Magazine® April 2010 Issue
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Reid Report
by Senator Harry Reid
Senate Majority Leader
Small Businesses
Boulder City was built to support the construction of the Hoover Dam and has become one of the strongest small cities in Nevada. If this recession has taught us anything, it’s that small cities like Boulder City rely heavily on small businesses. These businesses strengthen their communities and are the foundation of our economy.
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Small businesses have been hit from all sides during this recession as incoming customers and orders have slowed. Health care costs have been growing at twice the rate of inflation, putting pressure on small business owners who provide benefits for their workers. Small businesses that aren’t able to provide benefits often suffer from lost productivity due to uninsured workers. It’s a sad fact that too many small businesses have closed their doors because of these compounded pressures.
By focusing our efforts on helping local and small businesses that are the source of so many jobs, we can help put Nevadans back to work and help these businesses thrive. One of the first steps taken by the Senate this year was passing the HIRE Act. This bill will allow employers to suspend certain payroll taxes for new hires who had been unemployed for at least 60 days. The longer the company has their new worker the greater the tax benefit. Also included in the bill is a provision that allows small businesses to write off the cost of major purchases, freeing up capital that will help them grow.
The Senate also passed the extension of important tax credits for Southern Nevada, including clean energy tax credits and tax incentives to invest in research and development in renewable energy. Nevada is already a leader in developing clean energy, and as we continue to encourage clean energy companies to build in our state, it will be the Nevadans who are employed by these companies that benefit the most.
Small businesses are the foundation of any economy, but especially the economies of small cities and towns like Boulder City. I remain committed to helping small businesses hire more workers and expand. As the economy continues to recover I will do all I can to help all Nevada businesses thrive.
Contact Harry Reid at http://reid.senate.gov/
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