Congress approves 30-billion-dollar small business fund
The bill passed the House of Representatives 237 to 187 after the Senate approved the measure last week. It now goes to the White House for President Barack Obama’s signature on Monday.
“After months of partisan obstruction and needless delay, I’m grateful that Democrats and a few Republicans came together to support this common-sense plan to put Americans back to work,” Obama said in a statement.
“The small business jobs bill passed today will help provide loans and cut taxes for millions of small business owners without adding a dime to our nation’s deficit,” he said…..
The fund provides 30 billion dollars in loans for small and medium-sized businesses through local and regional banks. The legislation also includes another 12 billion in tax breaks including investment credits.
Obama and Democrats have argued the bill could create up to 500,000 new jobs. Read the full story here at AFP
