West Wing Week: "Open for Business"

April 14, 2011 | 5:08 | Public Domain

This week, with the threat of a government shutdown averted, President Obama focused on fiscal responsibility and balancing the need to cut spending and the deficit while continuing to support education, clean energy, and other investments needed to win the future. The Amir of Qatar also visited the White House.

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Repealing the 1099 Reporting Requirement: A Big Win for Small Business

Karen Mills
Karen Mills
April 14, 2011
05:19 PM EDT

Ed. note: This was originally posted on the Small Business Administration blog.

Today, President Obama signed a law that removes the expanded “1099” reporting requirement from the Affordable Care Act. This is a big win for small businesses.

The SBA and President Obama supported repealing this provision, which would have required businesses to send 1099 forms for all purchases of goods and services over $600 annually. With this bipartisan effort, we have removed a requirement that would have been an undue barrier to small business growth.

The many benefits of the health reform law for small businesses remain in place. These tools are already helping small business owners find more affordable and accessible coverage for themselves and their employees.

In particular, with tax day coming on Monday, don’t forget that many small business that provide health insurance are eligible for tax credits, thanks to the new law. You can learn more at this page on the IRS website.

Karen Mills is the Administrator of the Small Business Administration.

Related Topics: Economy, Fiscal Responsibility, Health Care, Taxes

The White House

Office of the Press Secretary

For Immediate Release
April 14, 2011

Mayors Back President's Fiscal Policy Speech

New Orleans Mayor Mitch Landrieu
“Tonight, President Obama demonstrated that he clearly understands that the key to winning the future includes a renewed commitment to long-term fiscal responsibility.  The only way to truly achieve balanced deficit reduction is through the values of shared responsibility and prosperity. Just as families and local governments across our country, the US government must live within our means. But President Obama understands like I do that a leaner, more efficient government doesn’t mean cutting at any cost.  We cannot cut our way to excellence.  Cuts must be thoughtful and balanced, and we must cut smart, reorganize, and invest for the future.  President Obama’s 2012 budget achieves $2 trillion in deficit reduction while still protecting the middle class, defending our commitments to seniors, and making smart investments we need to create and grow jobs. This is not only about reducing spending today but also laying the foundation for growth for future generations.  Tonight, President Obama laid out a comprehensive framework to reduce the deficit while still making the investments we need to out-innovate, out-educate and out-build the rest of the world.  No where is the battle for the future of America more evident than here in New Orleans—the most immediate laboratory for change and innovation in our country. With President Obama as a key partner, we are transforming our infrastructure, schools, housing and health care system, and in the process, we are creating a more robust economy.  I look forward to working with the President as we rebuild New Orleans and create a blue print for American renewal.”

San Antonio Mayor Julian Castro
“I commend the President for rolling up his sleeves and crafting a fair and realistic proposal to prioritize the nation's long-term promise over short-term politics,” San Antonio Mayor Julián Castro said. “Every day in cities across America, we are living within our means and balancing budgets that protect the most vulnerable and grow the middle class. Today's announcement shows that President Obama gets it: we must invest in educating our nation's youth, fostering entrepreneurialism and research breakthroughs, and growing our middle class in order to ensure America can compete in the 21st century global economy.”

San Francisco Mayor Edwin M. Lee
“Today, the President shared his vision for winning the future, and I applaud President Obama for presenting a comprehensive framework to grow our economy and put Americans back to work. We must begin with investing in people. In San Francisco, our small and mid-sized businesses are the engines of job creation and government must create an environment in which small businesses can succeed and thrive. In addition, I support and applaud the President’s commitment to health care for all Americans. The President’s unwavering commitment to seniors and the vulnerable through Medicare and Medicaid is an important safety net that must be protected. In San Francisco, we have extended health security to every San Franciscan who needs it.  I agree with the President that in these challenging economic times we must show fiscal responsibility and live within our means. At the same time, we must also rebuild our infrastructure, grow our economy and put thousands of people back to work through strategic investments in our future.”

Philadelphia Mayor Michael A. Nutter
"President Obama has proposed a pathway to a more sustainable Federal budget founded upon a principle that has made our nation great.  In hard times or periods of plenty, Americans have always pulled together, sharing the pain and the promise with fairness toward all. The President’s approach calls upon each of us to share the responsibility of reducing our common debt without placing an undue burden on those Americans who can least afford the cost. The time for partisanship is past.  We must invest in the future, grow our middle class, educate our young and meet the competition of a global market place.  The President’s balanced approach is the road map to that brighter future."

Charleston Mayor Joseph P. Riley Jr.
“I commend the proposals President Obama announced today to tackle the long-term deficits our national government is facing.  He has shown the leadership our country needs on an issue that threatens the long-term prosperity of this great nation.  During the recent economic downturn, America’s working families and its local governments have had to make tough spending decisions as family earnings and revenues declined, while continuing to invest in the things that ensure our future prosperity.  Our federal government needs to do the same. I am very pleased that the President has embraced the recommendations of the Bowles-Simpson Fiscal Commission whose bipartisan approach is what our country also needs.  We need an approach that protects working families and the neediest in our country while ensuring continued economic growth and prosperity and the President’s approach, building on Bowles-Simpson, does that.  Our national government must continue to lead and must continue to make targeted strategic investments in the things that keep our country at the cutting edge of economic competition in the world.  Continuing investments in education, in healthcare and infrastructure are critical, and President Obama’s plan does that while also seriously addressing long term deficits that threaten that prosperity.”

Los Angeles Mayor Antonio R. Villaraigosa
“President Obama laid out a forward-thinking, balanced economic plan that reduces the deficit while protecting middle-class Americans. The President’s blueprint for economic growth reduces the deficit by more than $4 trillion and recognizes that as Americans, we must all share in the sacrifice. But as the President clearly articulated, this cannot and must not be accomplished on the backs of the middle class and seniors. As a country, we continue to face tough choices, and I applaud the President for his courageous and comprehensive plan that promotes prosperity for all Americans.”

Baltimore Mayor Stephanie Rawlings-Blake
"Today, President Obama laid out a thoughtful and responsible plan to create jobs, spur innovation, and reduce the federal deficit.  His plan stands in stark contrast to the plan introduced by House Republicans last week.  I applaud President Obama for reminding the country that a "courageous" plan does not cut taxes for the wealthy while raising the cost of healthcare for seniors and the disabled.  Instead of mindless austerity, President Obama proposed a sensible and balanced approach to secure America's financial future that is deserving of serious consideration by House Republicans if they want to get serious about being fiscally responsible, creating jobs and ensuring that America wins the future."

Charlotte Mayor Anthony Foxx
“President Barack Obama today offered a serious and important framework for long-term deficit reduction.  With a steady but fragile recovery underway, deficit reduction is a critical priority but must be balanced with maintaining job creating investments in infrastructure and education.  We can neither cut nor spend our way to prosperity.  We must do both, reduce our deficit while preparing our country to compete in a global economy.”

The White House

Office of the Press Secretary

For Immediate Release
April 13, 2011

Senator Conrad Backs President's Fiscal Policy Speech

“President Obama set the right spirit and tone in his remarks today.  To solve our long-term fiscal crisis, we are going to have to break through the partisanship and gridlock that has taken hold in Washington.  Democrats and Republicans must be willing to put aside our differences and find common ground.  We need to sit down together, with everything on the table, and negotiate a comprehensive, balanced, and bipartisan long-term deficit and debt reduction plan.  The nation’s strength and security depend on it.”

The White House

Office of the Press Secretary

For Immediate Release
April 13, 2011

Senator Udall Backs President's Fiscal Policy Speech

 

Today, Mark Udall released the following statement on President Obama's speech regarding debt reduction and the economy: 
 
"I agree with the president's overall message today. In particular, I strongly support ending tax cuts for millionaires - I opposed extending those irresponsible tax breaks in December. We must invest in programs that will move our economy forward, cut what doesn't work, and take aggressive steps to pay down our national debt. Such a plan is critical to encourage strong private-sector job growth and keep the American dream alive for generations to come.
 
"I agree that we must be honest about the challenges we face and work together to meet them head on. I fought to create the Bowles-Simpson Deficit Commission, and when the president released his budget, I was disappointed that he didn't embrace its bipartisan recommendations for sustainable deficit and debt reductions. While his blueprint today keeps faith with some of the principles of the commission's recommendations, I believe we need an even more comprehensive approach that puts everything on the table. Nevertheless, I welcome the president's leadership, and I hope that leaders in both parties will heed his call to sit down together - regardless of party affiliation - and commit to make meaningful progress on reducing our debt and getting our economy back on track."

The White House

Office of the Press Secretary

For Immediate Release
April 13, 2011

Congressman Becerra Backs President's Fiscal Policy Speech

 

WASHINGTON, DC—Today, after President Obama’s speech on a framework for shared prosperity and shared responsibility, Congressman Xavier Becerra (CA-31), Vice Chair of the House Democratic Caucus and member of the President’s National Commission on Fiscal Responsibility and Reform, released the following statement:
 
"President Obama could not have been clearer: we must responsibly reduce the deficit through shared sacrifice—not on the backs of seniors and working families alone.
 
We must face up to the decisions of the past that led us into deficit in the first place: tax breaks and loopholes for millionaires and big corporations, wars that were put on the government credit card, and deregulation policies that led to the worst economic crisis since the Great Depression. Those are the principal drivers of today’s deficits, and we’d be foolish to do more of the same and expect a different outcome.
 
We all share the common goal of putting America back on track by reducing the deficits with a balanced approach. It’s time for House Republicans to stop ignoring the policies of the past that drove our country into this mess. Put everything on the table and start making the hard choices to get us out.”

The White House

Office of the Press Secretary

For Immediate Release
April 13, 2011

Henry Statement on the President's Fiscal Policy Speech

 

 $1 Trillion in Tax Breaks for Millionaires and Billionaires Is the Wrong Vision for America
 
WASHINGTON, D.C. – After President Obama delivered a speech on deficit reduction this afternoon, Mary Kay Henry, President of the Service Employees International Union (SEIU), issued the following statement:
 
“A budget is a statement of our national values and priorities. That means any federal budget must protect working families from radical cuts to vital programs and help put Americans back to work.
 
“The President laid out a commonsense approach to restoring fairness to our tax system. The Bush-era tax giveaways to millionaires must come to an end. We simply cannot afford them – something the Republican budget completely ignores. All taxpayers must pay their fair share, but under the Bush tax giveaways the top 2 percent of Americans are not. Tax giveaways and deficit reduction are mutually exclusive.
 
“Corporate America must pay its fair share. Big corporations – some of which pay no federal taxes – earned record profits in 2010. They are doing better than ever, but are not asked to share their windfall to address the budget deficit. Without requiring corporations to pay their fair share, we cannot truly restore fairness to our tax system.
 
“We are encouraged by the President’s thoughtful approach to preserving and protecting Medicaid and Medicare from the radical cuts proposed in the Republican budget. The details are important when it comes to preserving and protecting essential programs that millions of seniors, people with disabilities, women and children rely on. We look forward to seeing more detail about the President’s plan to preserve the essential values of Medicare and Medicaid without overburdening the states.
 
“We agree with the President that sacrifices must be made if we are to tackle our financial challenges. These sacrifices must be shared by all and not directed at those among us who can least afford it. In this heated budget debate, working families need elected leaders to stand up for a better vision for our country.”

The White House

Office of the Press Secretary

For Immediate Release
April 13, 2011

Governors Back President's Fiscal Policy Speech

 

Minnesota Governor Mark Dayton: “A balanced approach to bringing down the national deficit with fairness and shared responsibility.”
 
“President Obama today articulated a balanced approach to bringing down the national deficit with fairness and shared responsibility.  He wisely protects the middle class while asking the richest Americans to share the responsibility and the sacrifice of debt reduction. Equally important, he protects investments in education, transportation and other infrastructure that support job growth and American competitiveness. His approach stands in stark contrast to the proposals put forward by Republicans in Congress, who ask America’s middle class and senior citizens to shoulder much more than their share of the responsibility for reducing the Nation’s debt.”
 
 
Maryland Governor Martin O'Malley: President’s vision “to recover and rejuvenate our economy”
 
"President Obama effectively articulated the high stakes facing the American people in the budget debate. We face a choice between the President's approach of working together to reduce the deficit, finding cost-savings in health care delivery, and strengthening our economy and the Republicans' failed trickle-down policies that would put America's middle class and economic future at risk. While preaching fiscal responsibility, Congressman Paul Ryan and his Republican colleagues have put forth a budget that is fundamentally irresponsible and would shift a massive cost burden to the states. The Ryan budget would offer tax cuts to big corporations and the very rich, while forcing seniors and working- and middle-class families to bear the brunt of the sacrifice. And it would impose painful cuts to health care, education, other vital services that would cost our nation millions of private sector jobs and reverse the economic progress that we have made in our states. To recover and rejuvenate our economy, we must be willing to balance and move forward to create jobs and expand opportunity - and we must be willing to do it all at the same time.  That's President Obama's vision. And that's the vision of Democratic governors as well."
 
 
Delaware Governor Jack Markell: “I applaud the President for his commitment to tackling this serious challenge."
"The President spoke with clarity and conviction about one of the greatest threats to our nation's long term economic security, the unsustainable nature of our federal deficits and debt," Markell said. "We are going to take a hard look at the details of the President's deficit reduction proposal to see how this might impact our state budgets and state employers, but I applaud the President for his commitment to tackling this serious challenge."
 
 
Vermont Governor Peter Shumlin: “Emphasis on shared responsibility and taking a balanced approach to revenues and spending”
“The President’s deficit reduction proposal makes the difficult choices needed to control spending, while at the same time invests in efforts to strengthen our economy and get Americans back to work. I strongly support the President's emphasis on shared responsibility and taking a balanced approach to revenues and spending, and I applaud the President’s call to discontinue the tax cut for the wealthiest 2 percent of Americans – one single step that will reduce the deficit by $310 billion over the next decade. The budget proposed by the House Republican leadership would devastate many programs for the middle class and seniors, including essentially ending Medicare, and shift the cost of these important programs back to state taxpayers. While I will always speak up for the interests of Vermonters as federal budget talks move forward, I believe the approach laid out by the President today will continue to take our country in the right direction."
 
Connecticut Governor Dannel P. Malloy: President “set the right tone for the bipartisan negotiations to begin”
“I commend President Obama for tackling the issue of our long-term fiscal sustainability in such a measured, responsible way.  All too often, a tough conversation like this can start off with overheated rhetoric that divides us when we most need to work together, causing people on both sides to dig in their heels before the tough work has even begun. President Obama set the right tone for the bipartisan negotiations to begin in May and I hope that any agreement will significantly reduce our national debt, stay true to our core values of shared responsibility and prosperity, and accelerate economic growth.”
 
Massachusetts Governor Deval Patrick: “Optimistic, inclusive vision for the country”
"I thank the President for his leadership and vision. He is right that debate over the budget - - just like debate over health care or education or infastructure investment - - is about what kind of country we want to live in. The President's optimistic, inclusive vision for the country is one not only I believe in but most Americans do as well. "

The White House

Office of the Press Secretary

For Immediate Release
April 13, 2011

McEntee Statement on the President's Fiscal Policy Speech

 

By: Gerald W. McEntee, President of the American Federation of State, County and Municipal Employees (AFSCME)
 
Gerald W. McEntee, President of the American Federation of State, County and Municipal Employees (AFSCME), issued the following statement in response to President Obama’s speech on fiscal responsibility:
 
“President Obama today made clear that everyone needs to sacrifice to lower the federal debt and that we need to look at both sides of the financial ledger.  As Congress works with the President to find solutions, we urge lawmakers to consider the fact that we have a revenue problem, not a spending problem – and to remember how much the working middle class of our nation has already sacrificed.  The surefire way to balance the budget is to create jobs, close corporate tax loopholes and require the wealthiest Americans to pay their fair share. We also commend the President for his strong rejection of the Republican budget proposal to turn Medicare into a voucher and to block grant Medicaid.”

The White House

Office of the Press Secretary

For Immediate Release
April 13, 2011

Peterson Statement on the President's Fiscal Policy Speech

 

By: Peter Peterson, Chairman of the Peter G. Peterson Foundation
 
“President Obama’s proposed framework is a big step toward the compromise we need to achieve fiscal sustainability.  The President has made it clear that he supports a comprehensive plan for long-term deficit reduction, and his framework provides another credible approach to tackling the key drivers of our long-term debt.  The proposal put forth by the President for bipartisan negotiations with representatives of both houses of Congress led by the Vice President is a call to action to our elected officials to come together to develop and implement a balanced, comprehensive plan to secure our economic future.
 
“Any successful long-term deficit reduction plan must be bipartisan, so both political parties will need to make compromises.  Any viable plan must include both spending cuts and revenue increases, and should address all of the major areas of the budget, including tax expenditures, defense, entitlements and discretionary spending.  There is no doubt that we can solve our problems in a comprehensive and compassionate way that achieves fiscal sustainability while preserving the social safety net for America’s vulnerable citizens and providing resources for important future investments in our economy.
 
“We encourage leaders from both parties to find common ground so that all citizens can enjoy a prosperous future.”