Canceled.LTroll.8
Banned
Little more than a year ago, the economy was in freefall.
Today, it’s growing again.
Little more than a year ago, the economy was losing an average of 750,000 jobs per month.
It’s now been adding jobs for five months in a row.
But, even though we are in the process of digging ourselves out of this recession, we’re still in a pretty deep hole.
Millions of our family members, our friends, our neighbors are still looking for work, they're still faced with the prospects of long-term unemployment.
Credit is still less available than it should be, particularly to small businesses.
We have to keep moving forward, and that’s why I’m urging Congress to swiftly approve a set of tax breaks and lending incentives to spur hiring and growth at small businesses.
The legislation that's being debated right now would eliminate capital gains taxes for small investment, for investments in small firms, which will help move capital to these companies across America.
It will provide tax relief to small start-ups to encourage folks to open up businesses, as well.
To foster more credit, the package would create the small business lending fund I proposed in my State of the Union address to help underwrite loans through community banks, and we’d create a new state small business credit initiative, because states facing budget shortfalls are scaling back lending to small firms and manufacturers.
That's working against our recovery.
I’m also urging Congress to expand and extend successful SBA programs by increasing loan limits, for example.
In fact, since the start of my administration, we’ve been hearing from small businesses that want to retain and hire more employees, but they need additional credit, and we’ve been hearing from small community banks that want to lend more to small businesses, but they need additional capital.
So, this bill helps fulfill both needs, and to help us create jobs without adding to our deficit, we’re making the tough choices to pay for these proposals.
So, I’m hopeful that the House will pass these measures next week, and that the Senate will follow as soon as possible, with both support from Democrats and Republicans, and I’m eager to sign this tax relief and additional lending into law.
That’s how we can continue to move our economy forward, to continue on the path from recession to recovery, but also, ultimately, to prosperity.
Thank you very much, everybody.
Today, it’s growing again.
Little more than a year ago, the economy was losing an average of 750,000 jobs per month.
It’s now been adding jobs for five months in a row.
But, even though we are in the process of digging ourselves out of this recession, we’re still in a pretty deep hole.
Millions of our family members, our friends, our neighbors are still looking for work, they're still faced with the prospects of long-term unemployment.
Credit is still less available than it should be, particularly to small businesses.
We have to keep moving forward, and that’s why I’m urging Congress to swiftly approve a set of tax breaks and lending incentives to spur hiring and growth at small businesses.
The legislation that's being debated right now would eliminate capital gains taxes for small investment, for investments in small firms, which will help move capital to these companies across America.
It will provide tax relief to small start-ups to encourage folks to open up businesses, as well.
To foster more credit, the package would create the small business lending fund I proposed in my State of the Union address to help underwrite loans through community banks, and we’d create a new state small business credit initiative, because states facing budget shortfalls are scaling back lending to small firms and manufacturers.
That's working against our recovery.
I’m also urging Congress to expand and extend successful SBA programs by increasing loan limits, for example.
In fact, since the start of my administration, we’ve been hearing from small businesses that want to retain and hire more employees, but they need additional credit, and we’ve been hearing from small community banks that want to lend more to small businesses, but they need additional capital.
So, this bill helps fulfill both needs, and to help us create jobs without adding to our deficit, we’re making the tough choices to pay for these proposals.
So, I’m hopeful that the House will pass these measures next week, and that the Senate will follow as soon as possible, with both support from Democrats and Republicans, and I’m eager to sign this tax relief and additional lending into law.
That’s how we can continue to move our economy forward, to continue on the path from recession to recovery, but also, ultimately, to prosperity.
Thank you very much, everybody.
