WASHINGTON  – President Barack Obama says small businesses that participate in a proposed government health care plan could save a quarter on their premiums by 2016.

Obama on Thursday told small business leaders that few people have a bigger stake in health reform than they do. He says the House version of a health care bill would help millions of small businesses cut growing health care costs and was written with small businesses owners in mind.

Obama says small businesses have been hit harder than most and their owners understand the need for changes to the nation’s health care system.

The president says too many entrepreneurs can’t take a chance on new ideas because they cannot leave their jobs to start new projects. He says that situation hurts the economy.

RALEIGH, N.C. – As the NC House is set to vote Tuesday on a bill (SB 575) granting a targeted tax break for one particular large company, a new poll released by the Civitas Institute shows that nearly 9 in 10 voters in North Carolina disagree with this practice.

Voters were asked which is the better way to create jobs: give targeted tax breaks and cash incentives to a few large companies or give across-the-board tax cuts to all small and medium sized businesses.  Only 7 percent of voters favored tax breaks for large companies as SB 575 would provide.  87 percent of voters favored across-the-board tax cuts for small and medium businesses.

“It is clear from these results that the General Assembly is set to take an action that is in opposition to nearly all voters in North Carolina,” said Chris Hayes, Senior Legislative Analyst at the Civitas Institute.  “Voters clearly see the need for tax relief for small businesses as more of a priority than handouts to large corporations like Apple.”

North Carolina’s current corporate income tax of 6.9 percent is higher than any of its neighboring states.

“For North Carolina to be in a position to recover from this economic slowdown, tax rates need to be lowered overall,” said Hayes.  “Voters have been burned too often by the promise of new jobs through large corporate handouts like RJR, Skybus and Dell.  They realize that giving tax breaks to multi-billion dollar corporations while mom-and-pop small businesses suffer is the wrong thing to do.”

Full text of question:

In order to create jobs, is it better to give targeted tax breaks and cash incentives to a few large companies or give across-the-board tax cuts to all small and medium sized companies?

Tax Breaks for Large Companies – 7%
Tax Cuts for Small and Medium Companies – 87%
Not Sure – 6%

The study of 600 registered voters was conducted May 18-21, 2009 by Tel Opinion Research of Arlington, Virginia.  All respondents were part of a fully representative sample of registered voters in North Carolina.  For purposes of this study, voters we interviewed had to have voted in either the 2004, 2006 or 2008 general elections or were newly registered voters since 2008.

95% of the time, results from 600 interviews (registered voters) will be within +-4% of the “True Values.”   “True Values” refer to the results obtained if it were possible to interview every person in North Carolina who had voted in either the 2004, 2006 or 2008 general elections or were newly registered voters since 2008.

WASHINGTON- President Barack Obama plans changes to tax policy certain to be unpopular with corporations with international divisions and individuals who use tax havens.

Obama’s two-part plan, which he will announce later Monday at the White House, also embraces 800 additional federal agents to enforce the tax code.

The president’s proposal would eliminate some tax deductions for companies that earn profits in countries with low tax rates, as well as consider U.S. citizens who use tax havens in the Bahamas or Cayman Islands guilty of violating U.S. tax laws. If Obama wins congressional approval for the changes – and he faces a challenge on Capitol Hill – the new enforcement initiative could yield $210 billion in tax revenue over the next decade.

Treasury Secretary Timothy Geithner was to join Obama for the comments. The White House released details of the plan earlier Monday.

White House officials acknowledged the political challenges facing the plan. The administration won’t seek a complete repeal of overseas tax benefits and, although the rule changes are narrower than some anticipated, business leaders still oppose them as a tax hike. Obama aides countered that the plan is a step toward the massive overhaul of international financial regulations that the president has promised.

In exchange, Obama said he was willing to make permanent a research tax credit that was to expire at the end of the year and is popular with businesses. Officials estimate that making the tax credits permanent would cost taxpayers $74.5 billion over the next decade.

But administration aides said that 75 percent of those tax credits pay workers’ wages; given the struggling economy, aides were reluctant to do anything that could add more Americans to the unemployment rolls.

It was small comfort. Companies which shelter profits in international accounts stand to lose billions if Obama’s plan becomes law. Under the existing regulation, those companies pay taxes only if they bring the profits back to the U.S. If they keep the profits offshore, they can defer paying taxes indefinitely – and many do.

Obama’s plan wouldn’t go into effect until 2011; Obama has said he does not want to tinker with tax revenues until his $787 billion stimulus plan has run its course. The proposals, however, were far from complete, and aides said this was just one piece of the administration’s plan for a sweeping overhaul.

First up: Companies won’t be able to write-off domestic expenses for generating profits abroad. For instance, administrative tasks performed in New York for a London office would not be tax deductible in the United States.

Administration officials depicted the move as a way to close unfair tax loopholes that encouraged companies to send jobs overseas. They argued that if it costs the same amount to do business in, say, Ireland as in Iowa, why not do it entirely in Des Moines? Officials said Obama would characterize the move as a way to keep jobs in the United States and fight a system that is rigged against U.S. companies who keep their entire business operation domestic.

Obama also planned to ask Congress to crack down on tax havens and implement a major shift in the way courts view guilt. Under Obama’s proposal, Americans would have to prove they were not breaking U.S. tax laws when they send money to banks that don’t cooperate with tax officials. It essentially would reverse a long-held assumption of innocence in U.S. courts.

If financial institutions cooperate with Washington and disclose details when asked, Americans could invest anywhere they like.

Obama officials also said they would close a Clinton-era provision that would cost $87 billion over the next decade by letting U.S. companies “check the box” and treat international subsidiaries as mere branch offices. Officials said it was meant as a paperwork shortcut that is now a widely used and perfectly legal way to avoid paying billions in taxes on international operations.

RALEIGH, N.C. – Gov. Beverly Perdue said small businesses are responsible for half of North Carolina’s jobs and need help from government to reform health care for workers.

Perdue spoke Tuesday in Raleigh to the state chapter of the National Federation of Independent Business meeting in Raleigh.

Perdue said small business owners increasingly find health insurance too expensive to provide their employees. She said the only way to significantly combat rising costs is for the federal government to reform the health care financing system. Perdue said she’ll continue pushing for health reform at the national level.

NFIB state director Gregg Thompson said the group’s members like Perdue’s idea to cut taxes for small businesses by $36 million.

RALEIGH, N.C. — Governor Bev Perdue will address members of the National Federation of Independent Business’ annual Small Business Day at the Capital to be held on Tuesday, April 21 at the Raleigh Marriott City Center. 

She will speak at Marriott City Center, University Ballroom, 500 Fayetteville St. in Raleigh at 11:40 a.m.

RALEIGH, N.C. – Lt. Gov. Walter Dalton today announced the creation of the Small Business Assistance Fund, which will provide low-interest loans to help small businesses that are struggling to access capital during the economic and credit crisis.  The new revolving loan fund, which was conceived by Dalton to protect small businesses and preserve jobs, received $3 million in funding in the budget passed by the Senate last week, and that state money will be further leveraged through funding from Golden LEAF.

“During this economic crisis, we’ve watched as big business received massive bailouts, but not enough attention has been paid to small businesses, which really are the foundation of our economy,” Dalton said.  “As I have talked with small business owners, I have heard loud and clear that more help is needed and providing these loans is a powerful step.  I look forward to working with members of the General Assembly to make sure this funding stays in the final budget plan.”

The Small Business Assistance Fund is modeled after the disaster loan programs the state implemented following natural disasters like Hurricanes Fran and Floyd, which were administered by the Small Business & Technology Development Center (SBTDC).  The Fund will provide loans to small businesses, those with fewer than 100 employees or annual receipts of less than $1 million.  Loans may be used to guarantee commercial loans, as emergency bridge loans and for other purposes related to small business job preservation.  As a revolving loan fund, the interest and loan repayments will go back into the fund, providing capital for additional loans.  Golden LEAF has set aside $5 million for creative ways, such as the Small Business Assistance Fund, to provide much-needed capital to help North Carolina businesses create and retain jobs.

“Golden LEAF is proud to join with Lt. Gov. Dalton to provide financial support for the Small Business Assistance Fund and help North Carolina’s small businesses keep their doors open and our citizens employed,” said Dan Gerlach, president of Golden LEAF.  “This fund will bolster our state’s economy and protect jobs, consistent with our mission to promote the social welfare of our citizens and to provide economic impact assistance to North Carolina’s tobacco-dependent, economically distressed and rural communities.”

Lt. Gov. Dalton has been traveling the state to hear directly from small business owners and to learn how the State can help them.  Small business is an integral part of North Carolina’s communities and its economy.  In the last ten years, small businesses have accounted for 70 percent of the country’s new jobs, and 86 percent of businesses in North Carolina have fewer than 100 employees.  With unemployment statewide at 10.7 percent, keeping small businesses working and employing North Carolinians is more important than ever.

Dalton was joined at the press conference by legislative leaders from the House and the Senate as well as partner organizations, including Golden LEAF, the Small Business Technology Development Center, the N.C. Institute of Minority Economic Development, the National Federation of Independent Business, the N.C. Rural Center and the Small Business Administration.

Sen. Linda Garrou, chair of the Appropriations Committee, worked to secure funding for the Small Business Assistance Fund.  “Including this important program in the Senate’s budget is indicative of our focus on protecting jobs in our communities and creating new jobs over the long haul,” Garrou said.  “This new Small Business Assistance Fund comes at the right time to help North Carolina’s small businesses in a real and tangible way.”

“I am pleased and proud that Lt. Gov. Dalton brought this idea to us and championed the cause of small businesses,” said Sen. Clark Jenkins, who spearheaded the legislation in the Senate.  “This investment demonstrates the Senate’s commitment – and the state’s – to continuing to grow jobs and support our small businesses.”

Rep. Jim Crawford, who has led the effort for the Fund in the House of Representatives, pledged to work to keep the funding in that chamber’s budget.  “Especially when our state is state is facing such difficult economic times, we need to invest responsibly in programs like the Small Business Assistance Fund that create and protect jobs.  I look forward to working with my colleagues in the House to make sure we keep this fund in our budget,” Crawford said.

RALEIGH, N.C. — Lt. Gov. Walter Dalton will host a press conference at 10:30 a.m. Tuesday to announce new state assistance for small businesses, which are struggling to access capital during the economic and credit crisis. 

The Small Business Assistance Fund will provide low-interest loans to help small businesses keep their doors open and preserve local jobs.  The new revolving loan fund received $3 million in funding in the budget passed by the Senate last week. 

Dalton will be joined at the press conference by legislative leaders from the House and the Senate as well as partner organizations, including Golden LEAF, the Small Business Technology Development Center, the N.C. Institute of Minority Economic Development, the National Federation of Independent Business and the N.C. Rural Center.

Dalton has been traveling the state to hear directly from small business owners and to learn how the State can help them.  Small business is an integral part of North Carolina’s communities and its economy.  In the last ten years, small businesses have accounted for 70 percent of the country’s new jobs, and 86 percent of businesses in North Carolina have fewer than 100 employees.  With unemployment statewide at 10.7

The press conference will take place in the Legislative Building, 16 W. Jones Street in Raleigh, NC.

RALEIGH, N.C. – New lobbying laws are giving a broader picture of the money spent by groups and businesses trying to persuade North Carolina state officials and the public.

The campaign finance reform organization Democracy North Carolina said Monday that almost 900 businesses, trade associations and nonprofit groups spent $22 million on lobbying during 2007.

That was the first year after the Legislature passed new rules requiring more disclosure.

Group executive director Bob Hall said most of the money was earmarked as lobbyist compensation for their work. About $455,000 went for meals, events, gifts and entertainment. The lobbying law bars lobbyists from providing gifts to legislators but provided for some exceptions.

The North Carolina Association of Realtors was the top spender at more than $972,000.

On Tuesday, March 31, Lt. Gov. Walter Dalton will meet with small business owners from the Triangle to discuss their needs and concerns, especially during this difficult economic environment.

Dalton will participate in the “Business Success in Tough Times Workshop” sponsored by the Small Business & Technology Development Center, which provides business owners with the tools and resources to survive the economic downturn.  For more information, visit http://www.sbtdc.org/events/bstt/BSTTCalendar.pdf.

Small business is an integral part of North Carolina’s communities and its economy.  In the last 10 years, small businesses have accounted for 70 percent of the country’s new jobs, and 86 percent of businesses in North Carolina have fewer than 100 employees.  The Durham meeting is part of a series of events Dalton is holding statewide to hear from small businesses and to learn of ways the State can help them.  With unemployment statewide at 10.7 percent, keeping small businesses working and employing North Carolinians is more important than ever.

The event will take place at 6 p.m. Tuesday at the SouthBank Building, 400 West Main Street, Durham.