Business advocates says Obama plan costs outweigh benefits

02/1/2010 | Bloomberg Businessweek · USA Today

President Barack Obama's newly released budget plan would give businesses $1,000 a year -- at the most for three years -- to establish IRAs for employees, but as Molly Brogan, a spokeswoman for the National Small Business Association, noted, the least expensive payroll service costs $150 a month. Bill Rys, NFIB tax counsel, said the administration's "economic schizophrenia" is sending a mixed signal to small businesses. "One day it's hire and expand and the next it's you have to include these benefits and meet these requirements," Rys said. The plan also includes a $30 billion "small-business lending fund" using TARP money.

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Bloomberg Businessweek · USA Today

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