Tuesday, August 22, 2017

Congress Says Tax Reform Helpful to Taxpayers, Impacting What's New in Business

Joint statement by Congressional leaders in summer 2017 on the impact of tax reform on small business, what's new in business, jobs and taxpayers:

WASHINGTON—Today, House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, Senate Finance Committee Chairman Orrin Hatch (R-UT), and House Ways and Means Committee Chairman Kevin Brady (R-TX) issued the following joint statement on tax reform:

“For the first time in many years, the American people have elected a President and Congress that are fully committed to ensuring that ordinary Americans keep more of their hard-earned money and that our tax policies encourage employers to invest, hire, and grow. And under the leadership of President Trump, the White House and Treasury have met with over 200 members of the House and Senate and hundreds of grassroots and business groups to talk and listen to ideas about tax reform.

“We are all united in the belief that the single most important action we can take to grow our economy and help the middle class get ahead is to fix our broken tax code for families, small business, and American job creators competing at home and around the globe. Our shared commitment to fixing America’s broken tax code represents a once-in-a-generation opportunity, and so for three months we have been meeting regularly to develop a shared template for tax reform.

“Over many years, the members of the House Ways and Means Committee and the Senate Finance Committee have examined various options for tax reform.  During our meetings, the Chairmen of those committees have brought to the table the views and priorities of their committee members. Building on this work, as well as on the efforts of the Administration and input from other stakeholders, we are confident that a shared vision for tax reform exists, and are prepared for the two committees to take the lead and begin producing legislation for the President to sign.

“Above all, the mission of the committees is to protect American jobs and make taxes simpler, fairer, and lower for hard-working American families. We have always been in agreement that tax relief for American families should be at the heart of our plan. We also believe there should be a lower tax rate for small businesses so they can compete with larger ones, and lower rates for all American businesses so they can compete with foreign ones. The goal is a plan that reduces tax rates as much as possible, allows unprecedented capital expensing, places a priority on permanence, and creates a system that encourages American companies to bring back jobs and profits trapped overseas. And we are now confident that, without transitioning to a new domestic consumption-based tax system, there is a viable approach for ensuring a level playing field between American and foreign companies and workers, while protecting American jobs and the U.S. tax base.  While we have debated the pro-growth benefits of border adjustability, we appreciate that there are many unknowns associated with it and have decided to set this policy aside in order to advance tax reform.

“Given our shared sense of purpose, the time has arrived for the two tax-writing committees to develop and draft legislation that will result in the first comprehensive tax reform in a generation.  It will be the responsibility of the members of those committees to produce legislation that achieves the goals shared broadly within Congress, the Administration, and by citizens who have been burdened for too long by an outdated tax system. Our expectation is for this legislation to move through the committees this fall, under regular order, followed by consideration on the House and Senate floors. As the committees work toward this end, our hope is that our friends on the other side of the aisle will participate in this effort. The President fully supports these principles and is committed to this approach. American families are counting on us to deliver historic tax reform. And we will.”

NASA Picks Small Business Entrepreneur Ideas To Advance Innovation

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Press Release--NASA tp incorporate over 100 small business entrepreneur ideas for upcoming projects.

NASA has selected 133 proposals from U.S. companies to conduct research and develop technologies that will enable NASA's future missions into deep space and benefit the U.S. economy.

The proposals, valued at approximately $100 million total for contract negotiations, were selected under Phase II of NASA’s Small Business Innovation Research (SBIR) program.

"We are pleased to select SBIR proposals from over 112 small businesses," said Steve Jurczyk, associate administrator for the Space Technology Mission Directorate (STMD) at NASA Headquarters in Washington. "Technology drives exploration, and selection of these projects represents an investment in achieving our space exploration goals and supporting the U.S. innovation economy, as well."

SBIR Phase II projects will expand on the results of recently-completed Phase I projects. Phase I projects received six-month contracts of as much as $125,000. Phase II contracts are awarded up to $750,000 and the period of performance is no more than two years. Successful Phase II projects may go on to Phase III of the program – commercialization of the innovation.

The proposals were selected according to their technical merit and feasibility, in addition to the experience, qualifications and facilities of the companies, and their work plans and commercial potential. The fundamental requirement, however, is that the proposals answer needs that are core to the agency’s future exploration goals, such as:
Multifunctional, lightweight metallic materials that can be used to create the advanced structures needed for future deep space missions and next-generation aeronautics capabilities;
Compact, high-powered 3-D LIDAR (light detection and ranging) system for unmanned aircraft that significantly reduces the size and weight of object-detection sensors, with applications ranging from autonomous aircraft to space missions;

-A technology that integrates a plastic recycling system, a dry-heat sterilization system and a 3-D printer to create materials that can be used to print food- and medical-grade devices, lowering mission costs and trash generated on long-duration manned missions;
-A technology that will allow constellations of individual satellites to fly in precise formation and perform coordinated science, enabling new capabilities such as autonomous rendezvous and docking, and precision formation flying both for human and robotic exploration missions.

NASA's SBIR program is a competitive, awards-based program that encourages U.S. small businesses to engage in federal research, development and commercialization. The program allows businesses to explore technological potential and provides the incentive to profit from new commercial products and services. Small businesses create about two out of every three jobs in the United States each year, and about half the workforce either own or work for a small business.

The SBIR program is managed for STMD by NASA's Ames Research Center in California’s Silicon Valley. STMD is responsible for developing the cross-cutting, pioneering, new technologies and capabilities needed by the agency to achieve its current and future missions.

For more information about the Small Business Innovation Research program, visit:

http://sbir.nasa.gov

 

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