President Obama’s Jobs Initiative a Small Step in the Right Direction, Says Mercantile Capital Corporation President Chris Hurn

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 5, 2010 -- Christopher Hurn, president of Mercantile Capital Corporation, the region’s most active provider of U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities, appeared on Fox Business News recently to comment on President Obama’s efforts to stimulate job growth in the U.S.

“Some of the things being discussed -- like tax credits for new hires and a payroll tax holiday for employers -- are a good step in the right direction,” Hurn explained, “but I’m not entirely convinced that the Obama Administration has figured out how to truly stimulate our economy and actually create jobs.”

Economic stimulation starts with taxation, Hurn asserted. “You have to put money in people's pockets and then trust the American consumers and businesses to do what is best with it,” he said.

“You can't stimulate job growth without stimulating spending,” he said. “The tax credits that have been proposed are marginally beneficial, but tax credits for new hires were included as part of the original recovery bill. It’s easy to see that they haven’t had the impact we all hoped,” he said.

Hurn unveiled his own four-point plan to jump-start the national economy:
1. Implement a meaningful payroll tax holiday for both employers AND employees (Jan. 1 to July 1, or better yet, all of 2010);

2. Permanently abolish the capital gains tax on any investments made in eligible small businesses (fewer than $100 million or under 500 employees) during 2010;

3. Repeal or drastically modify Sarbanes-Oxley, as it has hampered business growth and hasn't done nearly as much good as was intended;

4. Get health reform right---the plans in circulation are still missing two very important things: tort reform and the ability to purchase health insurance across state lines.

* * *

For more information contact:
Chris Hurn, CEO, Mercantile Capital Corporation, 407-786-5040
Larry Vershel, Larry Vershel Communications 407-644-4142

About Mercantile Capital Corporation
Mercantile Capital Corporation ranks as one of the most active providers of SBA 504 loans nationwide, providing owners of small and mid-sized businesses the option to own commercial property with up to 90 percent loan-to-cost financing. Visit www.504Experts.com or www.504blog.com for more information.

obama jobs initiative     real estate financing     SBA 504 Loan     small business administration