Rep. Spano: The ‘Great American Economic Comeback’ Begins in FL15

Florida Small Business to Play a Key Role

Lakeland, April 28, 2020

Lakeland, FL After weeks of discussion with local residents, businesses, chambers of commerce, financial institutions and other local/national stakeholders and policy makers, U.S. Representatives Ross Spano (R-FL) outlined his ‘Great American Comeback’ economic plan to help Florida’s 15th Congressional district and the American economy recover from COVID-19. Representative Spano, the sole Florida delegation Member to serve on the House Small Business Committee, is uniquely positioned to push this plan forward given his business background, public service experience at the state and federal level, and most importantly representing such a diverse and talented community, FL-15.

“I am confident our district will play an important role in the great American comeback given our talented workforce, untapped market potential and strategic location,” said Spano. “As America debates what comes next, we must consider this time as an opportunity to define where we want to see our country in ten, twenty, or even fifty years from now. Having a clear roadmap will not only restore our economy but bolster our national security.”

His plan includes four main pillars which can be tackled from both the legislative and administrative side and which could be implemented in a timely fashion. These include: Quickly getting the American economy back on track through eliminating burdensome government regulations, using his position as Ranking Member of the Small Business Oversight subcommittee to provide the necessary oversight of recovery programs, ending our reliance on countries like China, and reducing our national debt. Additionally, the timing to engage these pillars is now given that COVID-19 testing resources have been made available and as we slowly reopen our economy.

Rep. Spano has already begun acting on common-sense ideas to incentive investment. On April 23, 2020, Spano wrote a letter to Secretary of the Treasury, Hon. Steven Mnuchin, asking him to administratively extend the deadlines for Section 1031 exchanges. Section 1031 of the Internal Revenue Code allows deferred tax payments when business or investment real property is exchanged for real property of a “like-kind”. Extending this deadline would give millions of Americans and businesses the incentive to upgrade, invest and spur economic activity— creating more jobs and work opportunities across the nation in all sectors.

“Before COVID-19 hit, America’s economy had never been stronger thanks to the policies of the Trump Administration,” added Spano. “The people in this district mean everything to me, and I am prepared to lead our community back to prosperity, with pro-family, pro-business, and fiscally responsible policies. Cutting bureaucratic red tape and smart deregulation will be at the top of my list.”

Small businesses will be at the forefront of this economic recovery plan as they are engine that propels our economy forward. In Florida’s 15th Congressional District, 92.2% of business are categorized by the Small Business Administration (SBA) as a ‘small business’ and over 41% percent of all employees within the district work in one. FL-15 is one of the fastest growing in America— because opportunity here abounds.  

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