After such a devastating blow to the Nation’s economy that not only was felt by most Americans but also by many people around the world, as one market crashed after the other, it is quite understandable why many small business owners have felt uneasy to move forward without hesitantly looking back.
This past week a bill went before the Senate that would create a $30 billion government fund to help community banks increase lending to small businesses.
“Everywhere I go, I hear from small business owners who simply cannot get the credit they need to hire and expand,” Obama said. “And we’ve been hearing from smaller community banks that they want to lend to these folks but need more capital to do it.”
Obama told Republican congressional leaders that “the provisions of this bill are things the Republican Party has said it’s supported for years: helping small businesses, cutting taxes, making credit available.”
The Small Business Jobs Act would eliminate capital gains on certain investments and increase deductions from new equipment and other expenses.
However, when the vote came to the floor, Republicans filibustered the measure by a vote of 58 (in favor of cloture) to 42 (against).
“It’s not going to die,” said Senate Minority Leader Mitch McConnell spokesman Don Steward noted. “We just want to have amendments considered. They made a start, allowing three…so we’re making progress.”
Across the Tampa Bay Area, businesses have had to close their doors, lay off employees, cut back on benefits, or make numerous other changes over the last years.
Vanessa Karl, a Bay Area dog groomer said, “Due to having regular customers and word of mouth referrals and also having made changes to my location, things seemed to have stabilized. However, we have also lost customers due to their own circumstances.”
Although it is said the economy is coming back and people are getting hired, are people feeling confident enough to once again expand their businesses, start a new business and once again look forward to the American Dream?
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