According to a story at CNNMoney.com, as mom-and-pop businesses struggle to make ends meet, the latest attempt to help them has gotten mired in Washington politics.
The debate began in October, when President Obama started pushing ways to get cheap capital to small businesses. It continued after his State of the Union address, in which he touted the proposal.
Now nearly two months after the administration proposed a new multibillion dollar package of loans and tax credits, the effort to help small businesses has hit a wall.
At the earliest, the Small Business Jobs and Credit Act will be taken up in September.
Meanwhile many entrepreneurs, who’ve been treading water for months, are afraid of going under.
Photo by AP.
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