May 08, 2015

During National Small Business Week, Hirono Introduces Legislation To Help Hawaii Small Businesses Get Started and Grow Green Jobs

WASHINGTON, DC – This week, during National Small Business Week, Senator Mazie K. Hirono, a Member of the Senate Small Business and Entrepreneurship Committee, introduced two pieces of legislation to  help small businesses in Hawaii and across the country grow and succeed:

“All small businesses in Hawaii and across the country deserve a fair shot to succeed and National Small Business Week serves as a reminder that small businesses create 90% of Hawaii's jobs and entrepreneurs are at the forefront of building a more sustainable economy that creates opportunity and prosperity for all,” said Senator Hirono. “The bills I’ve introduced this week focus on two things: Helping make it easier for entrepreneurs get their ideas off the ground, and making it easier for clean energy entrepreneurs and manufacturers to access new markets and opportunities. As a member of the Senate Small Business and Entrepreneurship Committee, I’ll continue fighting to make sure that anyone with ingenuity and commitment to working hard has the resources and support to start, build, and grow their business.”

The Small Business Start-Up Savings Account Act will allow entrepreneurs to contribute up to $10,000 a year into a Small Business Start-Up Savings Account, which could be used for purchasing equipment or facilities, marketing, training, or paying incorporation and accounting fees for starting a new business. Similar to an individual retirement account, spending from the account would not be included in gross income. Over a lifetime, entrepreneurs could accumulate $150,000 in a Small Business Start-Up Savings Account, which could be taken out tax free.

The Small Business Start-Up Savings Account Act was originally introduced in the U.S. House of Representatives by Congresswoman Terri A. Sewell in the 113th Congress.  

The Clean Energy Technology Manufacturing And Export Assistance Act will help small and medium sized clean technology businesses find new markets in the United States and around the world by creating a Clean Energy Technology Manufacturing and Export Assistance Fund administered by the International Trade Administration. The Clean Energy Technology Manufacturing and Export Assistance Fund will assist clean technology firms with export assistance including finding and navigating foreign markets to export their goods and services abroad. Furthermore, the bill will expand domestic clean technology manufacturing industry by  promoting policies that will reduce production costs and encourage innovation, investment, and productivity in the domestic clean energy technology industry, which will help domestic companies increase demand and create jobs.

Congresswoman Doris Matsui has introduced the Clean Energy Technology Manufacturing and Export Assistance Act in the U.S. House of Representatives.

As a member of the Senate Small Business Committee, Senator Hirono is committed to supporting Hawaii’s small businesses, and continues to focus on expanding educational and training opportunities, supporting innovation, and building a sustainable economic future in Hawaii.