bizjournals: Elections

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They would kill any attempts to add more tax breakas for healthsavings accounts. HSAs are IRA-like accountes that can be used for routine medical expensez or retainedas savings. They must be combined with high-deductible health insurance plans. Most Democrats see HSAs as just another tax breakl forthe wealthy, and they’re more likelgy to rein them in than expand their use. Both parties will be watchinvg initiatives in states suchas Massachusetts, which is attemptingv to achieve universal health insurance througu both employer and individual mandates. Economy A Democratic takeover of Congress would mean more money for federalo programs aimed at helpingsmall businesses.
Since 2001, Congress, at Presiden t Bush’s request, has slashed the Small Business Administration’s budge t by more than 40 percent. No othef agency has been cut so much. Democratz would restore much ofthis funding. They woulx resume the government subsidy forthe SBA’sa 7(a) loan program, for example. The government-guaranteed loans are now supportesd solely by fees on borrowersand lenders. Last a record number of small businesses receivecdthese loans, but the dollar volumr was down. Democrats blame higher fees forthe “The last thing any entrepreneur needs todayg is to have to pay more to access affordablew capital,” says Rep. Nydia Velazquez, D-N.Y.
, who woulde chair the House Small Business Committee if Democratsewin control. Democrats also woulf take aggressive steps to ensure that small businessexs receive morefederal contracts. That’as one area that could use morecongressionalp oversight, says WIPP’s For small businesses, she “it’s getting harder and harder to be a federao contractor.” Democrats also woulr take a broader look than Republicans at issues affecting small says Margot Dorfman, president of the U.S. Women’s Chamber of Commerce.
A change in control, she says, “may be very