FOR IMMEDIATE RELEASE:
June 17, 2010
KAGEN SMALL BUSINESS LENDING INITIATIVE MOVES FORWARD
Bill to cut taxes, increase access to credit for small business passes House
“As I travel across
The Small Business Jobs and Credit Act, which includes Kagen’s “Loans for Main Street” amendment, expands much-needed lending to small businesses and offers tax incentives to help America’s small businesses grow.
“Our small businesses will continue to be the engine of our economic recovery,” continued Kagen. “Two-thirds of the new jobs over the last 15 years were created on
The Small Business Jobs and Credit Act will help small businesses expand through investments in states and small banks that focus on lending to local small businesses. This new $30 billion lending fund, with tough performance-based incentives and safeguards to ensure that funds go to American small business, will spur job creation across
The Small Business Jobs and Credit Act also lowers the capital gains taxes on small business investments, and increases tax deductions to help entrepreneurs recover more start-up expenses.
This legislation, which expands much-needed lending to small businesses and offers tax incentives to help America’s small businesses grow, is fully paid for and will save taxpayers $1 billion over the next ten years.
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