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Small businesses to benefit from rare bipartisanship
The Obama administration and House Republicans have reached a rare agreement on a measure designed to aid American small businesses. From Phoenix, KJZZ’s Terry Ward reports.
TERRY WARD: The proposal called the JOBS Act is aimed at making it easier for small companies to go public. The proposed legislation also includes tax cuts for new companies. But Brian Reader of the American Small Business League says creating demand for products would be a more effective way to allow small companies to add employees.
BRIAN READER: One of the things government can do to create demand for small business is give them more federal contracts. There are several loopholes that allow large companies to win small business contracts and we need to change that.
WARD: Supporters are touting the legislation as a jobs bill. The measure still faces consideration by the US Senate. It has the backing of both the GOP and the White House.