The Banking and Strategy Initiative

Chillin' out till it needs to be funded

From the Office of Management and Budget – Part II

The Federal Budget proposes other specific advantages for Small Business and clean Energy / Infrastructure apart from a specifically designed Jobs package later in this month.

The Jobs Budget

The Obama administration has signed a 100% exclusion from Capital Gains for all expected long term investments in Smal Businesses extending one of the keenly watched Recovery Act measures

The Making Work Pay Payroll Tax relief for small businesses on the first $6.45 K of Social Security has also been extended.

Outside SBA, the budget provides $534 MM for a 2% increase in allocation to the International Trade Association ” to open up foreign markets for American goods and services” It also funds Dep of Agriculture for ‘phyto-sanitary’ public health and technical barriers for exports and funds for protecting Intellectual Property.

The $61.6 bn in Scientific research ( inc of $3.7bn in Sci&Tech mentioned earlier in Part I) incl $1.8 billion for making energy work, energy independence and climate change, $6 bn for cancer research , $143mn for Autism and $300bn for ARPA (Jobs, Mr President?), genomics, global health and science to support healthcare reform and incl NIH’s 40 approved derived stem cell lines.

The renewable energy programs, grants for managing public lands and restoring ecosystems are mentioned for rural jobs creation…Clearly, the end of the line..none of this can even support 5% of the 700,000 jobs a month disaster of 2009 but keeping commitments and waiting for private sector to produce quality exports.

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This entry was posted on March 1, 2010 by in Financial Markets, Healthcare, Obamanomics, TARP, US and tagged , , , .

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