Washington, April 16 (IANS) Tax exemptions on overtime and targeted relief for small businesses have emerged as key drivers behind the uptake of President Donald Trump’s tax cuts, according to the White House. US Treasury Secretary Scott Bessent told reporters at a news conference that the most widely used provision in the new tax framework was the exemption on overtime income, with more than 25 million filers claiming the benefit.He said the policy was designed to reward additional work. “I…
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Washington, March 10 (IANS) The US Small Business Administration (SBA) has announced a new policy barring foreign nationals and non-citizens from accessing federally backed small business loans, saying the move is aimed at prioritising American entrepreneurs amid rising demand for capital.The policy expands earlier restrictions and will apply across multiple SBA-guaranteed lending programmes, including the agency’s Surety Bond and Microloan programmes. Under the updated rule, applicants must b…