Bloomberg Reports Obama Tough On Congress To Favor Small Business

While trolling the news waves for bits to comment on, I came across this article on Bloomberg.com: Obama Congress to Act on Business, Energy. I was a little bit surprised to see what Obama had to say about small business, with all that is happening in the world:

Incentives for Business

Obama has called for the elimination of some capital gains taxes on investments, new tax credits and the creation of a fund to help community banks offer small business loans.

These are the kind of common-sense steps that folks from both parties have supported in the past, Obama said. We shouldn't let Americas small business be held hostage to partisan politics.

Aid for small businesses has been a focus of Obamas attempts to encourage job growth. The nations unemployment rate fell to 9.5 percent June. The presidents budget team forecasts it will average 9.7 percent through the year and 9 percent next year as the economy pulls out of the worst recession since the 1930s.

A version of the legislation has been approved by the House of Representatives yet hasn't come up for a vote in the Senate. The House leaves for it's August recess at the end of this week and the Senate on Aug. 6.

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One of the reasons I voted for Obama, oh heck yes I did, was because I believed he saw as I did that small business was what helped move our vast engine along. I feel small business has been kicked around a bit as of late and it's good to see it being billed again. We here at the blog are very curious what "some" cuts to capital gains taxes will be, could be a little or a lot. Sounds like a little but a little can go a long way.

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Posted in Business Service Post Date 12/07/2015


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