Obama to sign $42B small-business bill
By Silla Brush - 09/27/10 08:34 AM ET
President Obama on Monday will sign into law a package of tax breaks and loan incentives for small businesses.
The small-business bill, which was approved by the House last week, is likely the last economic stimulus before the midterm elections.
The legislation includes $12 billion in tax breaks and a $30 billion fund to encourage community banks to make loans to small businesses.The legislation was stalled for months, with Senate Republicans objecting to the $30 billion fund, arguing that it represented a taxpayer bailout similar to the $700 billion Troubled Asset Relief Program (TARP). Obama first proposed the lending fund in January.
The Obama administration criticized Republicans for holding up aid to small businesses. Republicans argued Democrats had not made the legislation a top priority for most of the year.
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http://thehill.com/blogs/on-the-money/801-economy/121015-obama-to-sign-42b-small-business-bill