September 23, 2010
Contact: Aaron Hunter 202-225-2040
Rep. Susan Davis Votes to Alleviate Credit Crunch on Small Businesses
The small business bill creates a $30 billion lending fund
Washington — Congresswoman Susan Davis today voted to give struggling small businesses easier access to credit to spur economic growth and create new jobs. The Small Business Jobs Act (H.R. 5297) increases much-needed lending to millions of small businesses, and offers $12 billion in new tax breaks for companies. It also keeps jobs in America by closing tax loopholes that reward corporations that ship jobs overseas.
“The small business owners that I have talked to have repeatedly complained about the credit crunch they are under,” said Davis. “They say the banks aren’t lending. Without access to capital they are unable to hire new workers, expand their business, and attract customers.”
The Small Business Jobs Act creates a $30 billion lending fund backed by the federal government in an effort to help America’s small businesses create new jobs and grow.
The bill takes another step to end job outsourcing by ending tax incentives for companies that ship jobs overseas. This bill is fully paid for and will not add a dime to the deficit.
The House approved the bill by a vote of 237-187 clearing it for the President’s signature.