Small Business Investment and Promotion Act of 2006

H.R. 5058, the Small Business Investment and Promotion Act of 2006, proposes a series of tax incentives and funding increases designed to support small businesses, farms, and commercial fishing operations. The bill would provide temporary tax credits to help these businesses offset high fuel costs, make permanent the tax credit for research and development, and allow for faster depreciation of improvements made to restaurants and retail spaces. Additionally, the legislation seeks to increase federal funding for small business development programs and adjust visa limits for skilled and seasonal foreign workers to meet labor demands.