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The Dansville Online
  • U.S. Senator Charles Schumer touts small business legislation in Geneseo

  • United States Senator Charles Schumer (D) visited Livingston County Chamber of Commerce April 11 to announce, for the first time in New York, a bill that he will introduce on the United States Senate floor next month.

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  • It looks like a step in the right direction for small businesses.
    United States Senator Charles Schumer (D) visited Livingston County Chamber of Commerce April 11 to announce, for the first time in New York, a bill that he will introduce on the United States Senate floor next month.
    “What we want to do is encourage small businesses to grow and create jobs,” Schumer said, adding later that he feels this bill will be a “grand slam for small businesses.”
    The Small Business Jobs and Tax Relief Act of 2012 would allow small business owners the ability to write off the entire cost of new capital equipment purchases up front, saving thousands of dollars in year-end tax costs.
    The bill also contains a 10 percent tax credit for each new worker hired in 2012, reducing the tax burden up to $500,000 for businesses that create new jobs.  
    This includes not only hiring new employees, but also increasing employee salaries.
    “For a small business, this is a Godsend,” Schumer said.
    For John Quinlan of Wayland, this could greatly help him expand a fourth pharmacy in Montour Falls.
    With this initiative, his company could see about $30,000 in employee tax credits right off the bat, plus tax credits for equipment purchases such as a new delivery van and computer software, totalling about $150,000.
    “For a business that’s thinking of expanding, [this legislation] encourages them to do it,” Schumer said.
    According to the Department of Treasury, the legislation could cut the average cost of capital investments to small businesses by 75 percent. In addition, Schumer said every dollar of tax cuts in this bill would generate about $9 of GDP growth.
    Quinlan added that the bill would be “a great shot in the arm for us.”
    Quinlan’s other three pharmacies are in Canandaigua, Geneseo, and the original family store in Wayland, which was started by his father in 1986.
    He plans on opening the Montour Falls pharmacy next month.
    This is the second time Quinlan has had a connection with a United States legislator. Congressman Tom Reed, (R-29) visited Quinlan’s Pharmacy and Medical Supply in Wayland last fall.
    Quinlan and other area pharmacists met with Reed again in the Wayland library last Friday to encourage Reed to support a bill that can help level the playing field between traditional pharmacies and online pharmacies.
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