Obama Proposes New Small Business Rescue Plan

[Hope And Change]

Obama Proposes New Small Business Rescue Plan

By Christopher Hass - Oct 10th, 2008 at 2:40 pm EDT

Today, in Chillicothe, Ohio Senator Obama introduced a new short term proposal to address the credit crisis of struggling small businesses. Senator Obama’s goal is to put all tools on the table to ensure that we are taking the necessary steps to help Americans who are struggling. Many small business owners can’t even make their payroll or finance their holiday inventories. Obama’s proposals are one step to help them during this time of crisis.

NEW PROPOSAL: While the financial market rescue plan is designed to unfreeze credit which will indirectly benefit small businesses, Obama recognizes that small businesses need direct and immediate access to capital now. Today he is calling for a Small Business Rescue Plan to help small firms get the loans the need to conduct day-to-day operating expenses, undertake short-term investments, and meet payrolls. The plan will use the tools we have available through the Small Business Administration to aggressively extend credit to struggling firms, while providing tax cuts for small businesses to encourage job creation. With small businesses responsible for more than two-thirds of new job creation, this plan is vital to stemming job losses and turning our economy around.


Obama’s small business plan includes:

* A Nationwide Emergency Lending Facility for Small Businesses

* Expanding Small Business Administration Guarantees to Encourage Private Lending to Small Businesses

* Temporary tax incentives to encourage small businesses to invest in jobs


In addition, Senator Obama has previously proposed:

* Zero capital gains rate for investment in small businesses

* Cut Taxes for the Vast Majority of Small Businesses

* Create New Small Business Health Tax Credit


http://my.barackobama.com/page/community/post/stateupdates/gGgbQT">Read the full press release outlining Senator Obama's plan in detail . . .

[jefferson_dem]

1. And the markets rally with the news.

:applause: Obama! :applause:

[Essene]

2. I BET THIS IS AYERS'S DOING..... oh wait. This isnt freeperville. GO OBAMA! =D

[kwolf68]

3. Damn socialist.

/sarcasm

Some really good ideas there...a mix of some government assistance and free-market principles. Not a rejection of either. Nice work Senator.

[ej510]

4. This is killing McCain, because he has no ideas.

[FrenchieCat]

5. I heard his speech today. Sounds like a winner!

and wins us another constituency!

[FrenchieCat]

6. Kick...before the media says that Obama isn't presenting solutions

I would suggest that this be kicked for the remainder of the day.

[scheming daemons]

7. And immediately following, the markets shot upward sharply

[Alter Ego]

8. We're seeing the resurrection of the New Deal.

It got us out of one Depression and it can get us out of another.

Shine on, Barack, you crazy diamond.

[Schulzz]

9. Enough with these economic proposals every day!

Campaigns should not do that says McCain camp! :crazy:

[Hope And Change]

10. Kick!