Earlier today, the President Obama put his John Hancock on a $30 billion small business lending bill intended to spur economic growth among, well… small businesses.
In addition to the fund set up to loan money to these businesses, the bill also includes $12 billion in tax breaks for small companies.
Said Barry O:
It was critical that we cut taxes and make more loans available to entrepreneurs… So today after a long and tough fight, I am signing a small business jobs bill that does exactly that.
Those in favor of the bill claim it will open up currently closed lines of credit to smaller companies and create half a million new jobs.
Obama signs small business bill into law [Reuters]