AAPI-owned small businesses have created nearly 2.3 million jobs and have pumped over $500 billion into the US economy. President Obama recognizes how valuable the AAPI community is to our nation’s prosperity, and has taken steps to ensure that AAPI-owned businesses continue to hire new employees and invest in innovation.
When President Obama took office, American small businesses were struggling under the devastating effects of the recession, runaway health care costs, and a credit freeze created by the Wall Street meltdown. In response, President Obama cut taxes for small businesses, encouraged them to hire, helped them access credit, and worked to level the playing field between small businesses and large corporations by ensuring that everyone, from Main Street to Wall Street, plays by the same rules.
Small businesses in the AAPI community have benefited from these policies. Under President Obama’s leadership, the Small Business Administration has supported 19,000 loans-totaling $13 billion for AAPI-owned small businesses. President Obama also issued 18 tax cuts for small business and provided tax credits to lower small businesses’ health care costs. The President knows small businesses are the key to economic recovery and will continue to support AAPI small businesses with investment incentives and tax breaks.
The President of the San Francisco Board of Supervisors, David Chiu, is a former small business owner and member of the AAPI community. He stands with the President because he knows the President stands with small businesses:
“As someone who used to run a small business, I can tell you that two out of three jobs in the United States are created by small businesses, and that President Obama is betting on small businesses. I want to thank him for cutting taxes—he’s passed 18 tax breaks for small businesses in recent years.
“We have to continue to get the message out around Mitt Romney. While he was running Massachusetts, he increased their debt, increased taxes for the middle class, and also ensured that the state fell to 47 out of 50 states in job creation."
Commit to vote for the candidate who’s fighting to level the playing field so that every small business has the opportunity to succeed.