March 26, 2017

Small Business Law Signed Today

Following a 61-38 vote in the Senate this morning, President Obama signed the Small Business Jobs Act this afternoon – providing $42 billion in assistance to small-business owners. The law includes 8 new business-oriented tax cuts, which makes up $12 of the $42 billion and are viewable here. White House officials claim these new cuts provide an immediate incentive for small businesses to make investments, due to certain investments having the capacity to be written off. The remaining $30 billion of the new law is setup into a fund to extend the small business lending provisions of the Recovery Act, which will make it easier for small businesses to get a loan. After signing the bill into law, President Obama admitted this law is “good news, but there’s still a long way to go.”

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