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…
Latest Small Business Administration News & Updates
Washington, March 28 (IANS) US President Donald Trump highlighted a sweeping set of tax cuts, trade gains and regulatory rollbacks aimed at American farmers, telling a large gathering at the White House that his administration had “delivered” after what he described as years of policy setbacks.Addressing what he called the “single largest gathering of American farmers that the White House has ever seen,” Trump said his administration had already provided “$12 billion” in support and …
Washington, March 27 (IANS) Donald Trump on Friday outlined a series of tax cuts, trade gains and regulatory rollbacks aimed at American farmers, while promising further relief and pressing Congress to pass a new farm bill. Addressing what he described as the largest gathering of farmers on the White House South Lawn, Trump said his administration had moved quickly to boost farm incomes and reduce costs.“In my first year back in the White House, farm income has soared by 20 per cent,” …
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…
Washington, Feb 26 (IANS) US senators have warned that billions of dollars in suspected pandemic-era small business fraud may go unpunished unless Congress quickly extends prosecution deadlines — a move that could affect thousands of restaurant and hospitality owners, including many Indian-origin entrepreneurs.At a Senate hearing on Small Business and Entrepreneurship on Wednesday (local time), Senator Joni Ernst said weak oversight and rushed disbursement of Covid relief funds created opportun…
Washington, Feb 24 (IANS) US Senate Democrats have introduced legislation to force the Trump administration to refund billions of dollars in tariffs after the Supreme Court struck them down as unlawful.US Senator Ben Ray Lujan said President Donald Trump had “ignited a global trade war the moment he took office by illegally imposing sweeping tariffs and causing pain for millions of Americans.”The proposed Tariff Refund Act of 2026 would require full refunds, with interest, of tariffs imposed…
Washington, Feb 5 (IANS) Top Democrats have criticised a new Small Business Administration policy that blocks businesses owned by legal permanent residents from getting SBA loans.They said the move hurts immigrant entrepreneurs and local economies.Sen. Edward J. Markey of Massachusetts and Rep. Nydia Velazquez of New York on Wednesday (local time) said the policy reverses decades of practice and shuts out lawful immigrants who run small businesses.“The Trump administration is stoking the flame…