US Senators and Small Businesses
New York
Chuck Schumer – Democratic
Incumbent Since: 1/3/1999
SMB Policies/Laws Passed:
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- On Aug. 16, 2011, he announced a major effort to end a required tax that small businesses have to pay on interest to the New York State Unemployment Insurance Fund, saying it was “job-killing.”
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- Strong supporter of the Small Business Jobs Act, which was passed by Congress and signed into law by the president in the fall of 2010.
Kirsten Gillibrand – Democratic
Incumbent Since: 1/27/2009
SMB Policies/Laws Passed:
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- Proposed legislation that would provide a 25-percent tax credit to encourage private investors to finance developing small businesses in promising sectors such as advanced manufacturing, biotechnology, aerospace, clean energy and transportation.
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- Co-sponsored the Small Business Savings Account Act, in which entrepreneurs could save up to $10,000 per year tax-free for their businesses.
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- Focuses on incubators that provide help for emerging small businesses. Incubators that help businesses in high-growth areas, such as technology, would be eligible for federal grants of up to $5 million, under her agenda.
New Mexico
Jeff Bingaman – Democratic
Incumbent Since: 1/3/1983
SMB Policies/Laws Passed:
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- Received the 2011 Small Business Council of America (SBCA) Special Congressional Appreciation Award for his hard work and dedication to protecting and promoting the nation’s small businesses.
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- Supported the Small Business Jobs Act of 2010
Tom Udall – Democratic
Incumbent Since: 1/6/2009
SMB Policies/Laws Passed: Advocated the Expanding Opportunities for Main Street Act, which would increase the value of federal contracts that are set aside for small businesses to $500,000 and would also make the process of obtaining a contract more transparent by requiring that federal entities explain in writing why a small business was not awarded the contract. Because the legislation also provides needed assistance to minority-owned businesses, it is supported by the U.S. Hispanic Chamber of Commerce.
