Obama wants to take $30B of Wall Street bailout fund to help community banks lend to small bizBy AP
Wednesday, January 27, 2010
Obama: Lend $30B Wall St. bailout to small biz
WASHINGTON — President Barack Obama is telling Congress that creating jobs must be its No. 1 focus this year.
In his State of the Union speech Wednesday night he said businesses are the engine of job creation. That’s why he is proposing that Congress take $30 billion from the Wall Street bailout to help community banks make loans to small businesses.
Obama also is proposing a small business tax credit that would help a million small businesses, as well as eliminating capital gains taxes on small business investments.