president obama In Saturday’s Weekly Address, the President told America to decide between his plan to keep the country’s economy moving forward, and the agenda put out by Republicans in Congress that would take us “backward to the special interest economy that created this mess.” His theme comes on the heels of the House of Representatives’ approval of the Small Business Jobs Act by a 237-187 vote last week. President Obama will sign a $42 billion bill to aid small businesses today. The bill seeks to create thousands of jobs and will offer about $12 billion in tax breaks.
The Small Business Jobs Act is expected to create 500,000 jobs, according to a summary of the bill from the Senate. It would LAO authorize the creation of a $30 billion fund run by the Treasury Department that would deliver ultra-cheap capital to banks with less than $10 billion in assets.
“Unfortunately, this bill does nothing to help end the uncertainty that is crippling job creation and hurting small businesses,” said House Republican Leader John Boehner, R-Ohio. “Instead it puts taxpayers on the hook for even more bailouts.”
