Fortenberry Calls for Economic Stimulus Incentives for Small Business, Middle Class, and Home Buyers

Lincoln, NE - Congressman Jeff Fortenberry, Ranking Member of the Small Business Subcommittee on Rural and Urban Entrepreneurship, today announced proposals for strengthening any economic stimulus package.

“Many economic indicators are trending downward, particularly unemployment and housing.  I believe an effective government stimulus package should be immediate, temporary, and focus on small business entrepreneurs, the middle class, and home buyers," said Fortenberry.

Fortenberry has proposed broadening the small business expensing provision, also known as section 179, from $125,000 to $250,000.  This would help small businesses speed up investments in equipment and machinery.  Another incentive would create a standard tax deduction for home-based businesses, providing further options for those seeking new self-employment opportunities.  An additional component would allow home buyers increased availability of retirement savings for home purchases made in 2008.

“It is likely that a package will include many other items.  My suggestions would achieve multiple objectives.  They would target immediate incentives for small business, boost the economy, help address concerns in the current housing market, and do so in a fiscally responsible manner,” said Fortenberry.

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