Friday, October 23, 2009

No New Stimulus, But Some Job Creation Measures, Pelosi Says

House Speaker Nancy Pelosi says her chamber will not consider another major stimulus package this session, but that Congressmen are preparing some individual measures designed to promote increased employment in the coming months. Bills under consideration, according to Congressional leaders, include the stalled expansion of unemployment benefits, increasing the tax loss carry back time period for businesses, extending and expanding the home buyer tax credit, a business tax credit for new hires, increased transportation construction appropriations, and extensions of food stamp and COBRA health insurance benefits for the jobless.

President Obama is proposing an increase in SBA lending limits from $2 million to $5 million to stimulate hiring by small businesses. He plans to lower the interest rate smaller community based banks pay to borrow from the Treasury Department for loans to smaller businesses in SBA programs.
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