(via: WashingtonPost.com) Congressional leaders announced late yesterday that a deal has been struck to avert another partisan budget trainwreck. Passage of the bill (it must pass both chambers of congress and be signed by the President) would provide some clarity to entrepreneurs and small business owners around the country, who are facing the prospect of another short-term spending solution, or worse, another government shutdown.

Quote:

Sequestration cuts would shrink, but they wouldn’t disappear….while the committee fell short of replacing the sequester cuts entirely, small firms in the government’s supply chain could at least be in for a more promising year in 2014….(There will be) no hiking up the individual (income tax) rate, which would have raised taxes on “pass-through” firms like partnerships and sole proprietorships, or the corporate rate, which would have hit a smaller but still significant number of small corporations.

Read the full story: What business owners should know about the new budget deal (WashingtonPost.com)