Congress Sends $40 Billion-plus Small Business Bill to Obama
Press release from the issuing company
Friday, September 24th, 2010
The Congress on Thursday sent President Barack Obama a long-delayed bill to help struggling small businesses.
The Democratic-controlled Congress on Thursday sent President Barack Obama a long-delayed bill to help struggling small businesses with easier credit and other incentives to expand and hire new workers.
The Senate passed the measure last week. The 237-187 House vote Thursday that sent the bill to the president split along party lines as Democrats praised the measure for creating a $30 billion federal fund to help smaller banks issue loans to small businesses and for cutting taxes by $12 billion over the coming decade.
"It combines ... tax relief with increased access to critical financing so that our nation's small businesses can move forward on new or delayed expansion plans," said Rep. Chellie Pingree, D-Maine."Small-business growth means job creation."
