Last week, the Small Business Jobs Act was signed into law, marking the latest effort by the Democratic Congress to partner with small businesses to put the economy back on track. The Jobs Act makes $30 billion in lending and $12 billion in tax breaks available to small businesses to create 500,000 new jobs. The Democratic Congress has already helped small businesses by providing tax credits for hiring unemployed workers, by reducing tariffs on goods used in U.S. manufacturing and by expanding incentives for capital investments. Nearly 2 years ago, our economy was losing 700,000 jobs per month. Now we are on pace to create hundreds of thousands of new jobs in the private sector. Yet, instead of joining with us to grow small businesses and the jobs they create, Republicans in Congress opposed loans to small businesses, opposed tax incentives for businesses to hire unemployed workers, opposed tax credits for health benefits, and opposed new incentives for business investments. Democratic Members stood up to provide American businesses with the right tools to innovate and create jobs. Access to capital, encouraging investment and hiring will ensure that we are continuing to create new jobs today and for tomorrow.
Editor's note · Context
The speaker discusses the Small Business Jobs Act and its impact on job creation.
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