Today, President Obama signed The Small Business Jobs and Credit Act of 2010, providing $12 billion in tax breaks for small businesses and creating the $30 billion Small Business Lending Fund that permits the Treasury to make capital investments with qualifying financial institutions.
The Small Business Jobs Act boosts access to credit for women-owned businesses and provides tax incentives that are expected to create jobs. The Small Business Lending Fund, estimated to raise $1.1 billion over the next ten years, increases availability of small business credit and a company’s ability to hire new employees. The legislation also offers tax breaks for small businesses, encourages investment, provides entrepreneurial incentives and increases trade opportunities. Overall, The Small Business Jobs Act is expected to promote hiring, generate over 500,000 new jobs and provide incentives for small business growth.
See the Senate Finance Committee Bill Summary.
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