Good News For Women Entrepreneurs
On Wednesday, May 28, I joined President Bush for a bill signing ceremony in the East Room at the White House. The President signed a $350 billion economic package, which includes substantive measures to help women entrepreneurs. The passage and signing of the package come at an ideal time. With optimism increasing among businesses, consumers and investors the package will help fuel confidence and momentum.
In a statement released by WE Inc. at the end of last week hailing the passage of the legislation by Congress, I commented, "The tax relief and expensing improvements of the economic package passed by Congress will truly help fuel the growth of women business owners across the country. Increased business investment is key to our nation's economic strength, and we are pleased that the legislation will help women entrepreneurs from the start-up stage to those on a high-growth path." You can read the full release at: http://www.we-inc.org/2071/wrapper.jsp?PID=2071-5&CID=2071-052303B
In 2003, 91 million taxpayers will receive, on average, a tax cut of $1,126 under the Jobs and Growth Act of 2003, according to the White House. In addition:
• 68 million women will see their taxes decline, on average, by $1,338.
• 45 million married couples will receive average tax cuts of $1,786.
• 34 million families with children will benefit from an average tax cut of $1,549.
• 6 million single women with children will receive an average tax cut of $558.
• 12 million elderly taxpayers will receive an average tax cut of $1,401.
• 23 million small business owners will receive tax cuts averaging $2,209.
• 3 million individuals and families will have their income tax liability completely eliminated by the Act.
It was an honor to be a part of this important ceremony. President Bush and members of Congress on both sides of the political aisle who helped massage the final package were focused on passing meaningful legislation to help our economy -- despite the war overseas and the ongoing challenges defending the homeland. We Inc. will thank them all in the coming week.
It's back to work, however, on other critical areas of the agenda - namely, the spiraling costs of health insurance and the need for Congress to put reform on a legislative fast track. I firmly believe that getting health insurance costs under control is key to economic recovery and robust growth in the future.
