Husted joins Youngstown businesses leaders for tour, roundtable discussion

“Ohio continues to lead the way with innovation that moves our state forward.” YOUNGSTOWN, Ohio – Sen. Jon Husted (R-Ohio) today joined business leaders for a tour of the Youngstown Business Incubator & Innovation Hub and roundtable discussion with Mahoning Valley business leaders to discuss issues impacting Ohio’s business community. “Ohio continues to lead the way with innovation that moves our state forward. These leaders in Youngstown are a testament to that, and it was great to hear from them firsthand today. I will continue to back policies that lower restrictions for small businesses, invest in their success and expand access to capital,” said Husted. The visit comes on the heels of a Wall Street Journal report outlining the economic renaissance of Midwestern states that specifically highlights new growth in Akron, Canton, Cleveland, Columbus and Dayton. “After decades of decline, Ohio has turned the corner. In recent years, businesses have chosen to invest, grow and create jobs here, bringing more opportunity and higher wages to our state. This progress has been a long time coming as we’ve worked to make Ohio one of the best places to start a business, live, work and raise a family. That’s why people are staying, relocating and moving back to the ‘Heart of it All.’ We’ve come a long way, but there is still more work to do, and Ohio’s brightest days are still ahead because of people willing to work hard and believe in our future,” stated Husted. In July, Husted supported the Working Families Tax Cuts Act, which includes major provisions to support small businesses and their workforce: Makes the 20% small business tax deduction permanent. This will deliver $4,600 in average tax relief to 8 million entrepreneurs around the country. This will create 1.2 million jobs annually for the next 10 years. Doubles the small business expensing limits for new investments in machinery, equipment and software. Includes a $7,000 tax cut for 12 million small business owners. Cuts taxes on tips and overtime, saving tipped and overtime workers up to $1,750 per year. Husted is also working on legislation in the Senate to expand access to capital, reduce regulatory burdens and help businesses compete in a modern economy: Made in America Manufacturing Financing Act : This bill would expand access to growth capital for small U.S.-based manufacturers. Investing in All of America Act : This bill would expand access to capital for small businesses in rural and low-income communities, as well as those in the manufacturing and critical technology sectors. The Senate and House have passed the Investing in All of America Act, and it will be signed into law by the President. A bill that would reform the Corporate Transparency Act by limiting its reporting requirements to foreign companies. This would protect American small business owners from burdensome federal reporting requirements and prevent the Treasury Department from collecting their sensitive personal information.