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Economic Recovery

Today's Must Read
Tim Devaney - Tom Stein
Haven’t done your taxes yet? Don’t fill out those forms until you read this.
Blog Post
The US would benefit from a more structured approach to help companies of all types and sizes find and develop existing technologies in new ways to improve the products they currently produce and...
Blog Post
A new small business employment index shows small business are slowly hiring.
Blog Post
Melinda Emerson, small business expert and coach, shares some perspective on the Obama Administration's first year in office.
Blog Post
Barack Obama
By Keith Girard |  Filed In: Campaigns & Elections and Elections & Politics
The president's first year in office was challenging, controversial, and an opportunity for him to lay down a foundation for recovery.
article
Experts from both sides of the aisle imagine how things would be if John McCain, rather than Barack Obama, were currently sitting in the Oval Office.
article
Is no access to capital really what’s stopping community banks from making loans? Maybe not.
article
Sam Thacker
Even though there are some positive economic indicators that our economy is inching upward, until we see the bottom of the banking crisis, small businesses will continue to have problems accessing credit.
Blog Post
By Ken Walker |  Filed In: Franchises
International Franchise Association Chairman Ken Walker urges Congress to develop health-care proposals that lower costs and allow franchise businesses to do what they do best — create jobs.
article
On March 2, President Obama signed legislation extending the availability of Recovery Act funds for certain Small Business Administration (SBA)-guaranteed loan programs. This is the second time the U.S. Senate has approved additional...
Blog Post
Keith Girard
As the economy struggles to recover, the president must restore the trust of Main Street and its customers.
Blog Post
The government is making things a little easier for small business owners with this extension to a popular loan program.
article
Marco Carbajo
Bad credit has affected consumers and small business owners alike but it should be considered a temporaray setback and not a death sentence.
Blog Post
Keith Girard
The Obama administration's too-little-too-late reaction to Main Street's credit crisis could threaten or delay the recovery.
Blog Post
The economy is beginning a slow uphill climb to recovery with small business at the helm.
Blog Post
Tim Devaney - Tom Stein
Stanford University study says people who punch the clock are happier than salaried employees.
Blog Post
The Credit CARD Act goes into effect February 22, 2010. But by not covering small business credit cards, it leaves entrepreneurs exposed.
Blog Post
Rieva Lesonsky
Franchisors, franchisees, industry insiders, and experts all see a rebound for franchising in 2010. And the numbers back their optimism up.
Blog Post
Keith Girard
Small businesses need affordable, world-class broadband service, and the world’s largest Internet technology company could finally make it happen.
Blog Post
Government-backed small business loan market may be trending in the right direction.
Blog Post

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Business Glossary

Definitions for: Economic Recovery Tax Act
Economic Recovery Tax Act

federal law enacted in 1981 that cut taxes across-the-board, modified the depreciation tables used by businesses in writing off capital equipment, and indexed tax brackets to the inflation rate. The act reduced the individual tax rate by 23%, cut the corporate capital gains tax to a maximum of 20%, and introduced the accelerated cost recovery system used by businesses in calculating accelerated depreciation.

To encourage individual savings, the act made Individual Retirement Account (IRA) available to anyone earning regular income, and introduced the all savers certificate, a one-year savings certificate free of federal taxes. (IRA eligibility rules have since been modified substantially by the tax reform act of 1986, eliminating the tax deduction for IRA contributions of individuals covered by a corporate pension who earn over a specified amount.)

The act also reduced the federal tax on estate and gift taxes, making the first $600,000 tax free after 1987, and allowed an unlimited marital deduction on property transfers as provided by a will.

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