US Sen. Kirsten Gillabrand and US Rep. Nita Lowey came to Nyack to discuss new legislation they’re working on in Washington: the SUCCESS Act of 2012. If enacted, this law would double deductions for start-up expenses and purchase of new equipment and extend tax credits for small businesses. It would give investors real incentive to buy small business stock.
On why they want to extend targeted tax breaks for small businesses, Sen. Gillibrand and Rep. Lowey pointed out that women-run small businesses are among the fastest growing segments of the economy, although they start with only one-eighth the capital.
The meeting was held at Maria Luisa’s Boutique in Nyack. Owner Maria Whittingham said, “I have been in business for 25 years in Nyack, something I am celebrating this autumn; I am proud to be a woman who has found success in her chosen field. I wish my fellow female business owners every success and applaud the senator and her colleagues on efforts to extend the tax breaks for small businesses and for women in particular.”
Also at the get-together were Nyack’s Mayor Jen Laird-White, Orangetown supervisor Andy Stewart, Chairwoman of the Rockland County Legislature, Harriet Cornell and Ellen Jaffee of the NY State Assembly.
Senator Gillibrand said, “Small businesses are the backbone of our economy and the most powerful job creators we have. I know women are ready to lead us to a thriving and stable economy, with new good-paying jobs that can support a family. When we provide the tools that small business leaders need, we can help this economic engine take off.”