Thursday, 23 September 2010 14:50
President Obama Pleased Congress Passed Small Business Jobs Bill
Written by  {ga=staffwriters}

President Obama released this statement after the House passed the "Small Business Jobs Bill":

"The small business jobs bill passed today will help provide loans and cut taxes for millions of small business owners without adding a dime to our nation’s deficit.  After months of partisan obstruction and needless delay, I’m grateful that Democrats and a few Republicans came together to support this common-sense plan to put Americans back to work.  I look forward to signing the bill on Monday."


The statement was issued after the House of Representatives voted Thursday substantially along party lines, 237-187. 

The legislation was designed to help small businesses get better access to capital and includes $12 billion dollars in tax credits for smaller businesses. 

Earlier this month, the Senate approved the bill.  

From Louisiana Congressman Charlie Melancon who is running for US Senate Against David Vitter:

Today, U.S. Congressman Charlie Melancon (LA-03) voted to give small businesses $12 billion in tax breaks and create a voluntary small business lending fund to jumpstart growth and create new jobs.  The Small Business Jobs Act passed the House of Representatives this afternoon and is now headed to the President’s desk to be signed into law.  The bill is fully paid for by closing corporate tax loopholes and is estimated to save taxpayers $1 billion over 10 years, as loans are repaid.


“Small businesses drive our economy in south Louisiana, creating two-thirds of all new jobs, yet too many have been turned away for loans over the past few years because of a financial crisis caused by greed on Wall Street,” said Rep. Melancon.. “As a former small business owner, I know how important access to credit is for growth and expansion.  The small business lending fund created by this bill will help community banks offer much-needed loans to restaurants, local grocery stores, fishing boat captains, and other family businesses throughout Louisiana.  Access to credit is an important step to creating new jobs and getting our economy back on track, and I am proud to vote for this bill.”

Earlier today, Congressman Melancon accepted the Guardian of Small Business Award from the National Federation of Independent Business for his pro-business votes in the 111th Congress.  Among the Louisiana delegation, Congressman Melancon tied for first with an 86% pro-business voting record in 2009 and 2010.


Specifically, the Small Business Lending Act will:


  • Give $12 billion in tax cuts for small business, including allowing for 100% exclusion of capital gains on certain small business investments; increasing the maximum deduction for start-up expenditures; extending the bonus depreciation provision that was included in the Recovery Act; and allowing self-employed taxpayers to deduct health costs for payroll tax purposes.


  • Create a $30 billion Small Business Lending Fund to provide community banks with capital to increase small business lending.
  • Extend Small Business Administration provisions in the Recovery Act that eliminate borrower fees and increases loan guarantees on SBA loan programs.


  • Promote small business exports by authorizing funds for the Office of the United States Trade Representative to help small business increase market access and ensure a level playing field on which to sell their U.S. made goods.

Just in:

The National Federation of Independent Business,  small business association, today named U.S. Senator David Vitter a "Guardian of Small Business" for his  voting record on behalf of America’s small business owners in the 111th Congress.


The only republican voting for the legislation was Rep. Walter Jones of North Carolina.  Republican Joseph Cao, the Congressman for the Louisiana 2nd District comprising areas of New Orleans and Jefferson Parish voted against the legislation.  His primary opponent is Democrat Cedric Richmond, a member of the Louisiana of Representatives.

Login to post comments
Powered By JFBConnect
  • Edwards gets Graves challenge on Louisiana flood relief money
  • Gov. Edwards's pugnacious state of union gave wrong Louisiana vision
  • Trump plus 80 days: Jim Brown, Bernie Pinsonat talk US, Louisiana politics
  • Trump should be like Reagan, not like Bush

graves c 3Shades of Katrina?

    Is political partisanship raising its ugly head again in the face of another Louisiana disaster?  Democratic Gov. John Bel Edwards thinks so.

    Edwards got some rough treatment from a congressional committee in Washington, D.C. when he testified before it recently about the state’s response to flood problems.

Read More

jbeWith equal parts pugnaciousness and disingenuousness, Democrat Gov. John Bel Edwards’ highly-politicized 2017 State of the State speech laid out a truly flawed vision for Louisiana going forward.

Read More

jim bernieIs Russia now our enemy, once again?

Did Donald Trump make the right move or was the latest attack, simply some wag the dog?

Read More

Iron nancy reagan 6n 1986, United States President Ronald Reagan authorized military aircraft to unleash a torrent of bombs in Tripoli, Libya to send a strong message to Libyan dictator Muammar Gaddafi. The attack was in response to Gaddafi’s involvement in the terrorist bombing of a Berlin disco that resulted in the death of American soldiers. 

Read More


Sen. Appel talks budget, economy


Dead Pelican

Optimized-DeadPelican2 1 1