Thompson Announces $50,000 in Financial Services Bill for Lock Haven University Small Business Development Center
Washington, D.C.—U.S. Representative Glenn `GT’ Thompson, R-Howard, today announced that $50,000 has been included in the Financial Services and General Government Appropriations bill for fiscal year 2010 for the Small Business Development Center at Lock Haven University.
“I am pleased to see my request included in the appropriations bill,” said Thompson. “The funds will continue to expand the Small Business Development Center at Lock Haven, which is a regional tax compliance center. With the previous year’s funding the center created electronic and online resources. This continuation of funding will expand that access to clients throughout the statewide network to help small businesses navigate the confusion of the tax code.”
A 2007 Internal Revenue Service report, Reducing the Federal Tax Gap, cites voluntary compliance as a key strategy in making sure the Nation is paid the taxes it is owed. Coordination with partners and stakeholders, through the Small Business Administration and its Service Corps of Retired Executives and Small Business Development Centers, helps expand education on tax subjects related directly to small business owners.
The Financial Services and General Government Appropriations Bill passed the House on Thursday by a vote of 219 to 208. It still must pass in the Senate before it can be signed into law.