Kweisi Mfume on Corporations Democratic Senate Challenger (MD); previously U.S. Representative

Encourage female and minority-owned proprietorships

• The Urban Marshall Plan, which provided tax credits for long-term investments in small businesses started by minorities.
• The Bartlett-Mfume Health Insurance Deduction Act, which provided for the restoration of tax deductions for health insurance costs of self-employed individuals.
• The Home Office Deduction Act, which provided clarification of the deductibility of expenses incurred by a taxpayer in connection with the business use of the home.
• The Women’s Business Ownership Act, which established programs and initiated efforts to assist the development of small business concerns owned and controlled by women.

Small businesses need advocates

When most people think of “business” in the US, they imagine large, multinational corporations. But, most businesses in the U.S. are actually small businesses -- those with 500 or fewer employees. We need to support small businesses, especially those engaged in the sciences and technologies, which produce innovative products and services necessary for us to compete in the knowledge-based global economy of today.