Small Business Finance News
Senator Gillibrand Proposes Small Business Help
Written by Jenna Weiner
New York Senator Kirsten Gillibrand recently a number of initiatives to help the small business sector.
While the federal government is facing a potential shutdown beginning midnight on Friday due to the failure of political parties to come to an agreement over the budget, small business news is celebrating one lawmaker.
New York Senator and Democrat Kirsten Gillibrand has announced a series of legislative steps she plans to take to help generate more jobs and speed up small business development.
Among the measures she plans to propose or co-sponsor are efforts to funnel more early capital to startups by providing business incubators with federal grants and allow small business owners to create tax-free savings accounts of up to $10,000 a year for five years, Crain's New York Business reports.
"There's no question, we need to do more to speed our country to prosperity," said Gillibrand during a press conference, according to the source. "Government doesn't create jobs. Businesses do."
Constituents in New York will hope to benefit from the legislation if passed, as data from the labor department shows that approximately 800,000 New Yorkers are unemployed, according to FOX-23.
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