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Steps to Aid Small Businesses Proposed

In a speech on December 7, President Obama announced a series of proposals that he says are designed to help small businesses pull out of...
December 15, 2009

In a speech on December 7, President Obama announced a series of proposals that he says are designed to help small businesses pull out of the economic slump. Obama said he's proposing a complete elimination of capital gains taxes on small business investment, along with an extension of write-offs to encourage small businesses to expand in the coming year. "And I believe it's worthwhile to create a tax incentive to encourage small businesses to add and keep employees and I'm going to work with Congress to pass one," he said.

To address what he called "the continuing struggle of small businesses to get the loans they need to start up and grow," the President said, "We're proposing to waive fees and increase the guarantees for SBA-backed loans. And I am asking my Treasury Secretary to continue mobilizing the remaining TARP funds to facilitate lending to small businesses."

Growth Proposals for Small Business (The White House 12/8/09)