Press Releases
In the News
- The Hill: Frank Knapp, Who owns the economy?
8/2/10 - Bloomberg BusinessWeek: No lobbying help for the little guys
7/29/10 - Portfolio: Small Businesses Face Dire Times With Little Support
7/27/10 - Washington Post: Chamber of Commerce losing battles
7/22/10 - New York Times: Small Businesses Go After Offshore Tax Havens
7/20/10 - Reuters: U.S. could lose $37 billion a year to tax havens
7/20/10 - Dow Jones: Sen Levin Seeks To Add Anti-Tax Haven Measure To Lending Bill
7/20/10 - Inc: Small Businesses Fight Offshore Tax Havens
7/19/10 - Huffington Post: How the U.S. Chamber of Commerce Sells Out Small Businesses and Local Communities
7/19/10 - Huffington Post: Bank Reform Groups Celebrate Final Passage
7/16/10
Resource Spotlight
The Hill: Frank Knapp, Who owns the economy?
By Frank Knapp, Jr., president and CEO of The South Carolina Small Business Chamber of Commerce
The Hill, 8/2/10
Who is to blame for the state of our national economy is a political football.
Bloomberg BusinessWeek: No lobbying help for the little guys
Trade groups are silent on a $30 billion fund to spur lending
By Mark Drajem, Laura Keeley and David Henry
Bloomberg BusinessWeek, July 29, 2010
In 2008, three of the best-known business trade groups in Washington blitzed Congress to approve a $700 billion bailout for Wall Street. Two years later, those groups—the U.S. Chamber of Commerce, the National Federation of Independent Business, and the National Association of Manufacturers—are missing in action as the smaller companies that account for the majority of their membership seek a $30 billion rescue of their own.
Portfolio: Small Businesses Face Dire Times With Little Support
by Kent Bernhard, Jr.
Portfolio.com, July 27, 2010
Three studies show just how dire small-business owners think the economy is getting, and one report shows how little their lobbyists in Washington are willing to do about it.
The Discover small-business watch released Monday shows a whopping 73 percent of small-business owners took home less pay in July, 58 percent rated the economy as poor, and 75 percent believe it’s likely or highly likely that the economy will slip into another recession, a belief that contradicts most economists, who believe a double-dip recession is unlikely.
Washington Post: Chamber of Commerce losing battles
By Dan Eggen and Michael D. Shear
Washington Post, July 22, 2010
Over the past year, the U.S. Chamber of Commerce has spent nearly $3 million a week in opposition to President Obama's major agenda items, breaking all previous lobbying records and placing a political bet on the Republican Party.
But so far, it's not clear how well the gamble has paid off.
New York Times: Small Businesses Go After Offshore Tax Havens
By Lynnley Browning
New York Times, July 19, 2010
Offshore tax havens have a new critic: small businesses.
On Tuesday, hundreds of these businesses will join in the announcement of a grass-roots campaign against tax avoidance that has already drawn support from a prominent lawmaker.
The campaign, Business and Investors Against Tax Haven Abuse, is backed by Senator Carl Levin, Democrat of Michigan, who in recent years has investigated offshore tax havens and the large companies and wealthy investors that use them.
New Alliance of Business Organizations Presses for Level Playing Field Between U.S. Domestic Business and Tax Haven Abusers
Report Estimates at least $37 billion lost Per Year to Tax Havens
Tele-Press Conference with Senator Carl Levin and Rep. Lloyd Doggett and Business Leaders and Owners, July 20, 2:30 ET
CONTACT:
Shonna Carter, (212) 260-5000, shonnac [at] riptideonline [dot] com
Bob Keener, (617) 610-6766, bobkeener [at] businessforsharedprosperity [dot] org
Reuters: U.S. could lose $37 billion a year to tax havens
By Kim Dixon
Reuters, July 20, 2010
WASHINGTON (Reuters) – The U.S. government loses $37 billion per year in tax revenues because multinational corporations stash money in overseas tax havens, Democratic Senator Carl Levin and a group of small businesses said in a report on Tuesday.
Levin, who for years has pushed for a tough law to fight tax evasion among corporations, has enlisted some small businesses to back his so-far unsuccessful proposal to close loopholes letting companies legally avoid taxes by keeping income abroad.
Dow Jones: Sen Levin Seeks To Add Anti-Tax Haven Measure To Lending Bill
By Martin Vaughan
Dow Jones, July 20, 2010
WASHINGTON -(Dow Jones)- Sen. Carl Levin (D., Mich.) said he will attempt to add sanctions for banks judged to be helping U.S. customers evade taxes to a small business bill now pending in the Senate.
Levin said the anti-tax-evasion provision would raise money to help offset the cost of small business lending provisions, including aid to states to aid small businesses that can’t get loans because the value of their collateral has dropped.
Inc: Small Businesses Fight Offshore Tax Havens
Multinational companies use tax havens to avoid $37 billion in taxes -- money that could be spent on a small business lending fund
By Courtney Rubin
Inc., Jul 20, 2010
Hundreds of small businesses have joined the fight against offshore tax havens that they believe are bad for business.
Huffington Post: How the U.S. Chamber of Commerce Sells Out Small Businesses and Local Communities
By Joanne Doroshow
Huffington Post, July 19, 2010
Last week, a student walked into the offices of the South Carolina Small Business Chamber of Commerce, asking to see the organization's public 990 tax forms. Odd, thought Frank Knapp Jr., the organizations' president and CEO. There was nothing legally wrong with this request, of course. But this was the first time in 10 years that anyone had asked.