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Posts Tagged ‘President Obama

Struggling small businesses may see some relief.  According to Senate Majority Leader Harry Reid, Thursday is the scheduled date in which the Senate will vote on the Small Business Jobs Bill, followed by the vote on its final approval.  The Bill will provide loans and tax breaks to small businesses and is expected to gain quick House approval.

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According to a White House press release on September 10, 2010, President Obama has already signed eight small business tax cuts into law over the last 2 years (2009 – 2010) and has eight more proposed tax cuts in the current Small Business Jobs Bill.


President Obama has proposed a set of ideas to help our current economic situation and stimulate growth in the small business industry. One major proposal will allow companies to fully deduct qualified capital investments through the end of 2011. 


Todd McCracken, president of the National Small Business Association, is in favor of the proposed Small Business Jobs Bill.   McCracken stated that the bill will go a long way in helping small businesses get back on their feet and obtain credit at a time when many are having a hard time doing.

On CNN’s “State of the Union”, McCracken stated,  “Putting money in the pockets of both consumers and small-business people so they can take advantage of the opportunities when they come along is crucial.” McCracken went on to say, “For instance, there is a jobs bill sitting in the Senate that they are going to be taking here in just a week and a half that will free up a lot of credit for small companies at a very low cost of capital for the government.”

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