Business & Economy
Loebsack Praises Passage of Legislation to Stop Proposed Labor Department Youth Labor Rules PDF Print E-mail
News Releases - Business & Economy
Written by Joe Hand   
Wednesday, 25 July 2012 08:37

Washington, D.C. – Congressman Dave Loebsack today praised the passage of legislation that would stop the U.S. Department of Labor (DOL) from finalizing the proposed rule that would limit the work children could perform on family farms.  When the rule was originally proposed earlier this year, Loebsack personally met with the DOL officials to urge them to review Iowans’ concerns while working to keep our children safe.  Shortly after the meeting, DOL withdrew the proposed rule.

“Iowa farmers have a long and proud history of feeding their neighbors, state, country and the world,” said Loebsack.  “I heard from family farmers earlier this year about the possible negative effects of the rule and personally urged the Department of Labor to not move forward with it.  I was pleased when the Department of Labor withdrew it.  Today’s bill takes another step to ensure Iowa’s way of life is protected.”

In addition to meeting with the DOL, Loebsack urged the Secretary of Labor to ensure Iowa farmers and families had the opportunity to be heard regarding these proposals and also urged the Department to reconsider the provisions relating to the parental exemption for children helping on the farm.

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Braley Seeks to Expand Help for Job-Creating Entrepreneurs PDF Print E-mail
News Releases - Business & Economy
Written by Jeff Giertz   
Tuesday, 24 July 2012 14:57

Introduces legislation expanding tax deduction for small business startup expenses

Washington, D.C. – Rep. Bruce Braley (IA-01) introduced legislation today that seeks to expand a popular tax deduction for small business startup expenses.

Current law allows entrepreneurs starting a small business to claim a $5,000 income tax deduction when total startup business costs do not exceed $50,000. Braley’s Support Our Startups Act would expand that deduction to $10,000, and raise the cap on total startup expenses to $60,000.

Braley said, “Small businesses have generated 65 percent of new jobs in the United States over the last 17 years.  If our economy is going to create new jobs, it’s going to start with small business growth.

Braley continued, “That’s why we need to give potential small business owners the tools they need to turn their dreams into reality.  Economic uncertainty is keeping good ideas grounded on the launching pad.  The Support Our Startups Act will give entrepreneurs greater incentives to get their business ideas off the ground.”

Christian Renaud, Principal at Startup City Des Moines, praised the bill, saying:  “Every day, I work with entrepreneurs  trying to get their big ideas off the ground,” “In this economy, the difference between a startup making it and a startup failing is very narrow.  More than ever, entrepreneurs need to use every tool in their arsenal to make their business successful.  This expanded tax break could be a difference-maker for countless new startups.  It’s an extra shot of adrenaline for entrepreneurs working to get their small business up and running.”

The Support Our Startups Act limits benefits to small businesses entrepreneurs by capping the startup expenses eligible for the credit at $60,000.  Expenses over that amount reduce the potential deduction, meaning large businesses, big corporations, or major investors would likely be ineligible for the tax cut.

According to the US Small Business Administration, small businesses make up over 99 percent of all businesses in the United States and employ half of all private sector employees.

An annual report released by the nonprofit Kaufman Foundation in March showed that the national rate of small business startups dropped 5.9 percent between 2010 and 2011, from an estimated 565,000 new businesses opening per month to 543,000 new businesses opening per month.  The report also showed that Iowa has one of the lowest entrepreneurship rates in the country.

To download a copy of the Support Our Startups Act, click on the following link: http://go.usa.gov/fvh

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Progress Iowa to Congressman Latham: 'We Want Our Money Back' PDF Print E-mail
News Releases - Business & Economy
Written by Matt Sinovic   
Tuesday, 24 July 2012 14:56

Petition drive launched at LathamBailout.com to return the $2.4 million borrowed by his family bank and never paid back


DES MOINES, IOWA -- Progress Iowa today launched a petition drive at LathamBailout.com, calling on Congressman Tom Latham to return the $2.4 million loaned to his family bank, Green Circle Investments, as part of the Troubled Asset Relief Program (TARP). According to his most recent financial disclosure form, Congressman Latham’s personal investment in the bank is worth up to $5 million.

“For weeks Congressman Latham has ducked questions about his involvement in the decision to voluntarily accept a bailout from the taxpayers and never pay it back,” said Matt Sinovic, executive director of Progress Iowa. “We’re through waiting for answers, and have just one simple request: we want our money back.”

When Latham’s family bank, Green Circle Investments, accepted their $2.4 million bailout in 2009, it was just one year after Congressman Latham voted against it. He even issued a press release, asking:

“Why is Washington so quick to focus on the needs of Wall Street at the cost of those responsible Iowans who have sacrificed, saved and spent within their means? No wonder real America has lost faith in Washington.”


“Congressman Latham should take his own advice and help restore our faith,” said Sinovic. “Every dollar of the Latham Bailout that remains unpaid is a dollar that can’t be spent on our schools, our roads, our communities. Iowa taxpayers are footing the bill to support an investment for our Congressman, and we’re paying the price for it.”

Green Circle Investments is operated by a board comprised of Latham’s family and friends, including his brother Bob Latham, who is President and Chairman. Nine financial institutions in Iowa have voluntarily received funds from the Capital Purchase Program of TARP. Only three have failed to pay back any of the principal on their loan, including Green Circle Investments.

To learn more about the Latham Bailout, and to sign the petition, visit LathamBailout.com.

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Nationwide action RE: Federal Minimum Wage Raise Increase PDF Print E-mail
News Releases - Business & Economy
Written by ActionNow.org   
Tuesday, 24 July 2012 14:34

This is a graphic that illustrates how long a minimum wage person has to work to buy a gallon of milk, a staple for most families,vs. a CEO.

$7.25/Hr
1 Gallon of Milk: $3.70
Has to Work
½ Hours
for 1 Gallon of Milk

$16.57/Hr
1 Gallon of Milk: $3.70
Has to Work
13 Minutes
for 1 Gallon of Milk


$20,160.00/Hr
1 Gallon of Milk: $3.70
Has to Work
.01 Seconds
for 1 Gallon of Milk

 
Braley Announces $4.7 Million for Hawkeye Rural Electric Cooperative PDF Print E-mail
News Releases - Business & Economy
Written by Jeff Giertz   
Tuesday, 24 July 2012 14:30

WASHINGTON, D.C. – Representative Bruce Braley (IA-01) today announced that Hawkeye Rural Electric Cooperative #2 has been awarded $4,750,547 from the Federal Emergency Management Agency’s (FEMA) Hazard Mitigation Grant Program. Hawkeye REC #2, located in Cresco, is proposing to strengthen 142.7 miles of overhead electrical distribution lines. The funding comes after severe storms, tornadoes, and heavy rains caused destruction in 2008.

“I am pleased FEMA is providing funding to Iowa for the strengthening of our important electrical system after the 2008 storms,” said Braley. “Continued efforts from FEMA to our small communities will help repair the weakened lines and provide strengthened electrical systems.”

 

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