Congressman Dave Loebsack, as part of his ongoing initiatives to bolster small businesses, joined local Cedar Rapids business owners today to discuss the 3/50 Project. The 3/50 Project is a national effort being spearheaded in Iowa by Cedar Rapids business owners to encourage shoppers to support more locally-owned businesses. Today, Loebsack met with owners from Brewed Awakenings and Fix Salon.

Loebsack discusses the 3/50 Project with local business owner Heather Younker, at her coffee shop, Brewed Awakenings.

"Across the country, people are struggling to make ends meet, and as many families are cutting back, our small businesses are feeling the crunch," said Loebsack. "In Cedar Rapids, our economy has been hit twice, first by the floods and then by the current downturn. The 3/50 Project is the perfect example of Iowa businesses working towards economic recovery and stability."

The 3/50 Project urges Iowans to pick out three locally-owned businesses and spend $50 a month between them. Loebsack will be joining the 3/50 Project efforts, and plans to visit 3/50 businesses each month. These efforts are part of Loebsack’s ongoing work to aid small business.

"In order to move Iowa and the country forward, I will continue to work closely with small business, and craft common-sense solutions to spur economic development and create jobs in Iowa and around the country," added Loebsack.

Last week Loebsack voted for a payroll tax holiday for businesses that hire unemployed workers and an income tax credit of $1,000 for businesses that retain these employees, and an increase of $125,000 in the amount that businesses can expense for certain depreciable business assets for the 2010 tax year. These efforts are part of Loebsack’s commitment to working with small businesses to spur economic development and create good-paying jobs in Iowa.