The American Small Business League (ASBL) criticized Republican presidential candidate John McCain's Small Business Plan, claiming the plan is more likely to help Fortune 500 companies.

"Senator McCain's plan is exceptional," said Lloyd Chapman, president of the ASBL, "as long as your small business is a Fortune 500 corporation."

"I don't think John McCain cares a bit about small business," Chapman told the San Francisco Business Times.

A McCain spokesman, however, called the ASBL a partisan organization.

According to the ASBL, there are 27 million small businesses in America, employing 126 million people.

The Small Business Administration, which represents these firms, has come under attack during the Bush administration, according to Chapman. "Bush virtually closed the agency ... SBA executives say the budget has been cut so much that they cannot carry out their mission," said Chapman.

Chapman emphasized that small businesses are suffering because large corporations are receiving small business contracts, a policy implemented by former SBA Administrator Steven Preston, now Secretary of Housing and Urban Development.

According to the plan, posted on McCain's web site, McCain will cut the corporate tax rate from 35 percent to 25 percent. He will also reduce the estate tax rate to 15 percent, with an exemption for families worth less than $10 million.

McCain also suggests building 45 new nuclear power plants and the increased use of coal, as well as a summer gas tax holiday. In the plan, McCain says he will provide $5,000 in heath insurance for every family.

Chapman did not believe that McCain's energy plans would help small business and said that if McCain wanted to help reduce energy costs, he should support extensive profit taxes for the oil and gas industry.

The Western Region Communications Director for McCain's campaign, Rick Gorka, said that it's outrageous for the ASBL to call itself non-partisan since the president and communications director both blog on the Huffington Post.

"Senator McCain understand that small businesses are the economic engine of this country, and they continue to create jobs and grow our economy," Gorka said, "We need to keep tax rates low ... both big businesses and small businesses alike all benefit from this."

McCain's environmental policy will help, he added, "The gas tax holiday helps ... anyone who has to drive."

Gorka also criticized the campaign of McCain rival Barack Obama. He told the San Francisco Business Times that "Senator Obama has continually said he's not in favor of cutting the top tax rate, which is the second highest in the world, which doesn't help small businesses grow and flourish."

He added, "They should be ashamed of themselves."

Source:  http://www.bizjournals.com