House OKs Small Biz Jobs Bill

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September 27, 2010 by Rich Whittle | 0 Comments

CNNMoney is reporting that one week after the Senate passed a $42 billion bill aimed at helping small businesses, the House voted Thursday to send the bill to President Obama’s desk.

The measure, which passed the House in a 237 to 187 vote, is aimed at creating 500,000 jobs, according to a Senate summary of the bill. The Small Business Jobs Act also is intended to make credit more available for Main Street and enacts about $12 billion in tax breaks.

The president will sign the bill into law on Monday.

“The small business jobs bill passed today will help provide loans and cut taxes for millions of small business owners without adding a dime to our nation’s deficit,” said Obama in a statement.