Letters to Bush

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Dear President Bush:

This year, you increased the small-business tax deduction for new depreciable equipment, Section 179, from $37,000 to $100,000. That was extremely important in helping to stimulate the economy, and I thank you. However, I believe this exemption should be increased further or the cap eliminated entirely for small businesses. In one poll of fast-growing companies, CEOs overwhelmingly cited this as more important than the reduction of personal taxes on dividends. Providing no limitation on Section 179 deductions would allow these businesses to greatly increase their employment and capital spending. One surveyed owner commented: "If Congress passes a tax cut on capital equipment expenditures today, I will be writing checks tomorrow."

Another way you can create jobsÊis to increase the Small Business Innovation Research (SBIR) percentage from 2.5% to 10% of all government research. It's a well-known fact that small businesses can create more jobs and patents per federal R&D dollar than can larger companies. By shifting money from large corporations to smaller ones, you will create more American jobs and patents without spending more money.

Sincerely,

Robert N. Schmidt
President,
Cleveland Medical Devices
Chairman, Orbital Research
Cleveland, Ohio

Dear President Bush:

Your compassionate concern about the health of Americans and your respect for the vital role small business plays in this nation lead me to ask you to look again at a policy currently espoused by your administration--a policy that would limit access and increase the cost of some of our most proven and useful drug therapies. I am speaking of certain drugs (for example, guaifenesin, an expectorant used for coughs and colds) that came into wide use decades ago--even before the establishment of the Food and Drug Administration. Many of these prescription drugs are manufactured by small businesses like mine. Over time they have been used safely and effectively.

Recently the Food and Drug Administration (FDA) stated its intention to put these drugs through an FDA approval process. This will remove them from the market for the length of the approval process, which can take years, and create a monopoly for whichever company first gains approval of each drug as a "new" drug. Smaller businesses will have a hard time bearing the costs inherent in this process, and consumers will end up paying more for these drugs. Small-business owners in the drug industry trust that the FDA is invoking this policy to promote public health. But, Mr. President, I ask you to help create a system which would bolster but not destroy what the agency's unwritten enforcement policy has been for decades: regulation and oversight without individual approval.

The FDA is scheduled to deliver a report to Congress on the feasibility and costs of such a system. We ask that your administration seriously consider a way to meet the objective of ensuring the safety of American prescription drugs without disrupting the livelihood of many owners and employees of American small businesses and without raising the costs and availability of these old drugs.

Respectfully yours,

Darlene M. Ryan
President & CEO
PharmaFab
Grand Prairie, Texas

Dear Mr. President:

I realize you are a very busy man and probably have a lot of things on your mind right now. As I write this letter I can't help feeling like a little kid asking Dad for an allowance--but here goes.

May I please borrow $1,000,000 to take my very successful company to the next level? Since my dad would want to know what I would do with my allowance, I think it is only fair to tell you that I'd use the money to hire additional staff, thus reducing the unemployment rate, and I'd move into larger (but still reasonably priced) office space.

I feel funny having to write to you but I've tried various financial institutions who said, "You're just not big enough yet." I'll understand if you're unable to advance me the $1,000,000 right now, but I would gladly take any suggestions you might have for a successful small business trying to secure additional financing.

It is important for you to know that I will repay this loan.

All the best,

Marc Richman
CEO
For Any Occasion
Tampa, Fla.

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