In what may be the first measure of substance in the race to replace Anthony Weiner in a good long while, David Weprin, the Democrat vying to replace him in Congress, released his plan to help small businesses today.
“Small businesses will lead our economic turn-around, so we need to do everything we can to help them grow,” Weprin said in a statement. “While big corporations are able to hire expensive lawyers and lobbyists to secure special tax breaks, I’ll be an advocate for small businesses in Washington.”
As a back-bencher who is likely to only hold the seat for a matter of months before it gets redistricted out of existence, Weprin isn’t likely to have that much of an impact on national economic policies.
But if he were king for a day, here is what he proposes:
Taxes: Small businesses pay disproportionally high taxes compared to large companies and financial institutions, especially in New York. Weprin will work to simplify the tax code, closing loopholes and lowering overall rates. He will fight to remove tax incentives for companies that ship jobs overseas and use those savings to reduce tax rates for small businesses.
Credit: The credit crunch caused by the financial collapse of 2008 has had a devastating effect on the economy and small firms. This stalled their production of goods and services because of a less accommodating credit market, even in situations where demand existed. The situation has improved little. Weprin will focus on working with the Small Business Administration and the private sector to facilitate access to more flexible credit so small businesses can invest in their companies and create jobs.
Innovation: In a report to the President, the U.S. Small Businesses Administration explained that “Innovation and entrepreneurship will be crucial to the nation’s economic revival and competitiveness in a global marketplace.” Weprin believes this creates an opportunity for small businesses, which are often more flexible and responsive to changing technologies and opportunities. However, moving from ideas to profits can present a challenge. He will work to improve access to and funding for Small Business Innovation & Research Grants.
Okay. Now back to the Ground Zero Mosque and Pulling the Plug on Grandma