Small Business Bill Signed by Obama

In an eleventh-hour effort to bolster momentum on the Democratic campaign trail, President Barack Obama signed a bill to aid small businesses Monday. The bill will do “two big things,” he said. “It’s going to cut taxes, and it’s going to make more loans available.” Obama had some harsh words for Republicans in Congress, accusing them of stalling the bill. “I regret that this bill, which was based on ideas from both Republicans and Democrats, I regret that this was blocked for months by the Republican minority,” said Obama. The small-business bill passed with the help of Republican Senators George Voinovich of Ohio and George LeMieux of Florida, and will not only help small businesses get credit and increase hiring, but also provide eight additional tax breaks for small companies. “I don’t have to tell folks here that small biz still face hardships, and it’s still too difficult for creditworthy small businesses to get new loans,” said Obama.