Introducing this for the President:
Duke’s Let’s Put Atlasia to Work Program
Section I: Cash for Startups
1. The federal government will provide a $1000 tax credit per job created by new businesses and green jobs.
2. The tax credit in clause 1 can be converted to its cash equivalent if the new business chooses to do so.
3. For a new job to qualify under this program, it must be a full-time job. Part time jobs do not qualify under this program.
4. “New businesses” defined under this program are businesses that have been open for 18 months or less.
5. “Green job” defined under this program is work in agricultural, manufacturing, research and development (R&D), administrative, and service activities that contribute substantially to preserving or restoring environmental quality.
Section II: Guaranteed Business Loan Program
1. $50 billion shall be appropriated to banks throughout Atlasia specifically reserved for business loans.
2. The federal government will guarantee eighty-percent of each loan lended by banks to each business.
3. The interest rate on a loan under this program will be capped at 9.25%. Banks may not charge a higher rate on loans under this program.
4. Loans under this program will be available to businesses who plan to commence business within a 6 month period of taking out the loan and available to any other type of business currently doing business, including municipal governments.