10:12am

Mon August 20, 2012
Politics and Government

Gillibrand again pushing incentive package for small businesses

Sen. Kirsten Gillibrand (D-N.Y.) is again trying to push incentives for woman-owned small businesses through Congress.

The senator was at Cathedral Corporation in Rome Friday afternoon to push the SUCCESS Act.

Marianne Gaige is president of Cathedral, a publishing and marketing company for churches and other non-profits. She says one of the provisions the bill would extend helps her purchase new equipment.

"With these accelerated depreciated provisions, I can deduct all of that cost right up front and reduce my current taxable expense. I'll have to pay it later - a high amount later, but we were a perfect example of it," Gaige said in a phone interview with WRVO News.

The bill also aims to encourage people to invest in small and startup businesses.

Gillibrand was in Syracuse in June to push for similar legislation. The SUCCESS Act is a re-tooled version of the Small Business Tax Extenders Act, according a spokesman for the senator.
 

Gaige says the proposals would help her company invest in the future easier.

"It allows me to put people and programs in place in the company to market. So it just helps make us profitable faster - and that's so important these days," Gaige said.

Gillibrand is running for re-election in November against Republican Wendy Long.

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