Issue Position: Jobs/Economy

Issue Position

Date: Jan. 1, 2015

Kelly believes that the strength of America's entrepreneurial spirit will lead our economic recovery. That's why she supports common sense, pro-growth policies that encourage private sector innovation and job creation.

Coming from a small business family, Kelly understands that high taxes and burdensome federal regulations discourage investment and innovation. She wants to cut job-killing taxes in order to unleash real growth. And having heard feedback from small business owners across New Hampshire about the complicated federal tax code, she supports common sense tax reform and simplification.

Kelly is actively working to eliminate federal red tape that holds back business owners in New Hampshire. She recognizes that decisions made in Washington have serious consequences for our state's small business economy and she is working to minimize that impact.

Kelly also wants to ensure that American businesses are able to compete in an increasingly global marketplace. The United States currently has the second highest corporate tax rate in the industrialized world; Kelly wants to see it reduced to keep jobs at home.

A SAMPLING OF AYOTTE INITITATIVES TO BOOST SMALL BUSINESS JOB CREATORS:

INFRASTRUCTURE

Ayotte State Infrastructure Bank Bill - Legislation (S. 1553) that will bolster efforts in New Hampshire to establish a state infrastructure bank that leverages state and federal transportation dollars to attract private investments to help fund local transportation initiatives.

Partnership to Build America Act - Bipartisan bill (S. 1957) Senator Ayotte helped introduce that would establish an innovative public-private initiative to help state and local governments access the capital they need to bolster transportation infrastructure - without using taxpayer dollars.

MANUFACTURING

Revitalize American Manufacturing and Innovation Act - Legislation (S.1468) Senator Ayotte has co-sponsored that is designed to bring together industry, universities and community colleges, federal agencies and all levels of government to accelerate manufacturing innovation in technologies with commercial applications.

TAX

Stop Online Sales Tax Requirements - Senator Ayotte continues to lead efforts against the mis-named "Marketplace Fairness Act" - which would turn online business owners into tax collectors for nearly 10,000 jurisdictions across the country.

Repeal Medical Device Tax Under Obamacare - Medical device manufacturers across the state have told Senator Ayotte that this tax will make it harder for them to invest and grow, and could result in job losses. In a strong bipartisan vote during last year's budget resolution, the Senate voted 79 to 20 on a non-binding measure to repeal the tax. Senator Ayotte believes a binding repeal of the tax should be taken up and passed immediately. Senator Ayotte is an original cosponsor of the Medical Device Access and Innovation Protection Act (S. 232), bipartisan legislation that would repeal the harmful medical device tax.

Death Tax Repeal Act - Senator Ayotte is an original cosponsor of the Death Tax Repeal Act (S. 1183), which will permanently eliminate the burdensome estate tax and provide relief for small businesses.

Small Brewer Reinvestment and Expanding Workforce (BREW) Act - Senator Ayotte is a cosponsor of the Small Brewer Reinvestment and Expanding Workforce (BREW) Act (S. 917), which provides for excise tax relief for New Hampshire's small brewers.

CUT FEDERAL RED TAPE

Forty Hours is Full Time Act - Obamacare effectively defines full-time employment as thirty hours per week - as a means to force mid-size and larger businesses to provide coverage to their employees. Even though the administration has delayed this part of the law multiple times, this impending mandate has already resulted in workers losing hours, and Senator Ayotte is the co-sponsor of bipartisan legislation - the Forty Hours is Full Time Act (S. 1188) - that would restore the traditional forty-hour work week.

Protect Small Business Truckers - Responding to concerns raised by New Hampshire's trucking industry, Senator Ayotte introduced legislation (S. 1891) that would put on hold new federal regulations that govern how long commercial truckers can spend on the road - calling for an independent assessment of new "hours-of-service" rules from the Federal Motor Carrier Safety Administration that went into effect last summer. FMCSA published the regulations in July before a congressionally-mandated study had been completed. Ayotte's bill would put a hold on the new mandates so that an objective study can be finished to determine whether the rules unduly burden working truckers - as well as the impact of the new regulations on highway safety.

Protect Small Business Employee Stock Ownership Plans (ESOPs) - Senator Ayotte has introduced legislation (S. 273) that would protect ESOPs from a costly regulation proposed by the Department of Labor that would expand the definition of "fiduciary" under the Employee Retirement Income Security Act to include appraisers of all private ESOPs. The proposed rule would result in new compliance and regulatory costs for private companies offering ESOPs (nearly all of which are small businesses) and could jeopardize the availability of these plans in the future.

Regulatory Accountability Act - Senator Ayotte is an original co-sponsor of this legislation (S. 1029), which would significantly reform the federal regulatory process and reduce unnecessary burdens on job creators. The bill seeks to modernize the Administrative Procedure Act by strengthening cost-benefit analysis across all agencies, improving transparency in the rulemaking process, and providing a more rigorous examination of facts underlying the most expensive rules.

Regulations from the Executive in Need of Scrutiny (REINS) Act - Having heard stories from small business owners who have told her about burdensome paperwork that makes it harder to do business, Senator Ayotte is an original co-sponsor of the REINS Act (S. 15) - legislation that would require Congress to approve major Executive Branch rules that have an impact of $100 million or more before they can be enforced on the American people.

EXPAND BROADBAND ACCESS

USF Equitable Distribution Act - Access to reliable broadband is a priority for New Hampshire businesses - particularly those in rural areas. With New Hampshire receiving only 37 cents for every dollar it receives through the Universal Service Fund, Senator Ayotte introduced legislation to ensure that more of the money New Hampshire citizens contribute to the fund is invested in our state instead of subsidizing other states.
EXPORTS

Small Business Export Growth Act - Senator Ayotte helped introduce this legislation (S. 1179), which would remove barriers for small businesses seeking to export their products and services. The bill aims to improve coordination between federal and state agencies and expands outreach efforts to better inform small businesses about federal export promotion opportunities and resources.

HELP FOR NEW HAMPSHIRE'S FISHERMEN

Saving Fishing Jobs Act - Senator Ayotte authored the Saving Fishing Jobs Act (S. 221), which aims to level the playing field for independent small fishermen by scrapping one-size-fits-all federal catch share programs if they result in significant job loss within a fishery, and putting management control back in the hands of fishermen, who have a vested interest in maintaining fish stocks.

TOURISM

Travel Promotion, Enhancement, and Modernization Act - To help boost tourism in New Hampshire and across the nation, Senator Ayotte co-sponsored S. 2250, which would reauthorize Brand USA, a public-private partnership that promotes international travel to the United States, through 2020. In Fiscal Year 2013, Brand USA generated 1.1 million additional international visitors who spent an estimated $32 million, strengthening local businesses and boosting economic growth. Brand USA is funded by international visitors and private contributions - not U.S. taxpayers - and any revenue generated over $100 million will be used for deficit reduction.


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