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Senate Finance Committee pass PNTR for Russia Senate Finance Committee Chairman Max Baucus (D-Mont.) today applauded the Committee’s unanimous approval of his bill establishing permanent normal trade relations (PNTR) with Russia and removing Russia from the 1974 Jackson-Vanik amendment.  Chairman Baucus’s bill will enable U.S. businesses to create jobs here at home by capitalizing on Russia’s growing market.  The legislation supports and creates thousands of U.S. jobs across every sector of the American economy, including manufacturing, agriculture and services, by helping double U.S. exports to Russia within five years.  Read More...
Senate Reauthorizes Export-Import Bank

The Senate has approved legislation that would reauthorize the Export-Import Bank after rejecting five Republicans amendments, including a proposal to shut down the bank.

The bill was approved 78-20 — with all 20 “no” votes cast by Republicans — and now goes to President Barack Obama for his signature. The House passed the measure last week 330-93.

Study finds higher tax rates could hurt small businesses

A new study from accounting firm Ernst & Young, released July 17 by the National Federation of Independent Business (NFIB), shows that allowing tax cuts to expire on top individual rates is likely to hurt job creation and the economy, particularly small business job creators.

The study says potential tax rate increase scheduled to start Jan.1, 2013 would directly impact small business organized as S corporations, partnerships, LLCs and sole proprietors, which make up about 75 percent of all small businesses.

Study Predicts California Fuel Supply Shortages SAN FRANCISCO (Dow Jones) -- California could see gasoline shortages as early as 2015 as new state rules aimed at cutting greenhouse-gas emissions could shutter more than half the state's refining capacity in less than eight years, according to a new study commissioned by an industry group.  Read More...
Tax code changes could cost agriculture

A new study shows proposed changes to the tax code restricting the use of cash accounting by agricultural operations would reduce agriculture's access to capital by as much as $12.1 billion over the next four years.

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