Congress Sends Small-Biz Bill to Obama
The House passed a long-delayed small business assistance bill this week and House Democrats celebrated in a ceremony and sent the legislation to the White House for President Obama's signature.
The bill provides about $12 billion in various tax cuts and creates a $30 billion dollar small business lending program for community banks. It also increases loan limits and guarantees for in Small Business Administration lending programs.
Also included in the package is $1.5 billion in grants to support at least $15 billion in new small business lending through state programs.
And while the legislation may help some small companies, their confidence in the economy is still a challenge to their growth and job creation.