Obama signs $42 billion bill aimed to help small businesses

[ProSense]

Source: CNN

Washington (CNN) -- President Barack Obama signed into law a $42 billion bill to aid small businesses Monday, saying it would create jobs by providing tax credits and helping banks increase loans.

"It's going to cut taxes. It's going to make more loans available for small businesses. It's a great victory for America's entrepreneurs," Obama said to applause at the White House signing ceremony.

While the bill's major provisions had backing from both parties, it took months of legislative wrangling to work it out.

The Senate approved it on a 61-38 vote last week, with two Republicans breaking a GOP filibuster to join the 59 Democrats in supporting the measure. The House then voted 237-187 on mostly partisan lines to send the bill to Obama's desk.


Read more: http://www.cnn.com/2010/POLITICS/09/27/obama.small.business.bill/index.html?section=cnn_latest

[MineralMan]

1. Sounds great. I hope it does a lot of good. K&R

Now, let's see what the opponents have to say.

[SpiralHawk]

2. "No no no no no no no no." - Republicons

"We want America to Fail."

- Rush DraftDodger Limbaugh (R - Chief Propaganda Pimp)

[JDPriestly]

3. Me too. My friends with small businesses are really hurting.

But, I have to say that discouraging outsourcing and importing goods would help small business in America -- especially manufacturing -- more than anything else. It has to be done by the government. The private economy cannot end the bleeding of jobs to low-wage countries.

To survive, small businesses have to have customers. And if customers don't have jobs because the jobs have all been shipped overseas or to Mexico, then small businesses don't have customers and cannot survive.

It's kind of simple really. But small business owners generally were too short-sighted to see how the flow of goods, money and services really works.

[Abq_Sarah]

5. All of the small business owners I know

Understand perfectly. We are, after all, the ones who are writing the checks. No money in = no money to pay employees.

The availability of paying customers is the foundation of any small business.

Believe me, we understand. All the loans in the world aren't going to help us if the economy is sour.

[azmouse]

4. Thank you to the two Republicans who did the right thing.

[Mikeystyle]

6. The GOP was in favor of small businesses until they were against it

Hmmm... When Republicans introduced their generic and non-specific "plan" for America, they said they wanted to support small businesses.

--and yet they voted against this bill.

More proof that the Republicans want the economy to fail and have nothing to offer but Bush's leftover economic snake oil.

[groundloop]

7. Glad to see this finally pass. HOWEVER...

It's total nonesense that a sizeable majority in the Senate can be held hostage by the minority to the extent we've seen. And unfortunately the strategy of NO has worked, the general public doesn't pay much attention to the workings of the Senate, all they see is that Democrats are in power and not much has gotten done.

The President and all Democrats need to make noise about this finally getting passed, and don't forget to mention the republicon opposition to it.

[Le Taz Hot]

8. As a frequent detractor of this Administration

it's only right to give kudos when deserved. 'Course, it should have been BILLIONS and we'll see whose hands these monies end up in but at least it's SOME acknowledgment that we actually exist out here.