Sen. Kirsten Gillibrand, Rep. Nita Lowey push for small-business tax breaks in Nyack boutique visit
U.S. Sen. Kirsten Gillibrand paid a visit to Maria Luisa’s Boutique in downtown Nyack on Thursday to push for legislation that would extend tax breaks for small businesses.
Flanked by fellow Democrats including U.S. Rep. Nita Lowey and Nyack Mayor Jen Laird-White, Gillibrand said women-owned small businesses are among the fastest-growing segments of the economy, but start with one-eighth of the capital.
“What we have to do in Congress is create a better environment for which they can grow,” she said at the news conference at 77 S. Broadway.
In addition to tax relief for capital gains on investments in small businesses, the Success Act of 2012 would double from $5,000 to $10,000 existing deductions for startup costs and allow owners to write off up to $500,000 in new equipment purchases.
“These are just good ideas,” Gillibrand said. “I know we can pass this bill hopefully between now and the end of the year to have an impact on our economic growth.”
The women’s clothing and accessories store is owned by Maria Luisa Whittingham, a resident of Upper Nyack who was recently named Woman of the Year by the Rockland Business Women’s Network.To continue reading: http://www.lohud.com/article/20120831/BUSINESS/308310059/Sen-Kirsten-Gillibrand-Rep-Nita-Lowey-push-small-business-tax-breaks-Nyack-boutique-visit