CompTIA Urges Senate to Pass Small Business Bill
$30 billion loan program will help small IT firms grow, create jobs; 1099 reporting requirement remains
September 15, 2010 01:03 PM Eastern Daylight Time
WASHINGTON--(EON: Enhanced Online News)--The U.S. Senate is considering the Small Business Jobs and
Credit Act of 2010, which includes a $30 billion fund to spur lending and $12 billion in tax breaks. The following
statement can be attributed to Todd Thibodeaux, president and chief executive officer of CompTIA.
“CompTIA urges the full Senate to pass the Small Business Jobs and Credit Act of 2010 (HR 5297). Small business
will continue to be the engine for economic recovery and future growth, and access to capital is the life blood of
small business. The bill’s $30 billion Small Business Lending Fund will enable community banks to provide small
businesses with vital government-backed loans that can be used to create new jobs and invest in local communities.
CompTIA is disappointed, however, that the Senate failed to repeal or limit the onerous 1099 reporting requirement,
which has a disproportionate effect on small business. The increased compliance costs will inflict a substantial burden
at a time when so many small businesses are stretched to their limits.
CompTIA looks forward to continuing to work with the Senate, the House and the Obama Administration as they
consider legislation to spur economic growth in small businesses producing scientific and technological innovations.”
CompTIA is the voice of the world’s information technology (IT) industry. Its members are the companies at the
forefront of innovation; and the professionals responsible for maximizing the benefits organizations receive from their
investments in technology. CompTIA is dedicated to advancing industry growth through its educational programs,
market research, networking events, professional certifications, and public policy advocacy. For more information,
visit www.comptia.org or follow