Obama signs new Bill

US: President Barack Obama Monday signed into law a bill creating $ 30 billion small business fund aimed at facilitating loans and boosting job creation, calling it a “victory for America’s entrepreneurs.”

Obama signed the measure in a White House ceremony attended by lawmakers, Treasury Secretary Timothy Geithner and business owners from around the country, including a pizzeria owner from Seattle, Washington, and a nursery manager from Virginia.

“This law will do two big things: It’s going to cut taxes, and it’s going to make more loans available for small business. It’s a great victory for America’s entrepreneurs,” Obama said, adding that it was the result of “a long and tough fight.” Obama called to fund “the most significant step... in more than decade” on behalf of small businesses, which he said “produce most of the new jobs in this country.. (and) are the anchors of our Main Streets.”

The Bill passed the House of Representatives in a 237 to 187 vote Thursday.

One week earlier it was approved by the Senate after a long and contentious debate and only after two Republican lawmakers, George Voinovich of Ohio and George LeMieux of Florida, agreed to break ranks and vote for the bill.

Their Republican colleagues denounced the legislation as another taxpayer bailout.

Washington, Tuesday, AFP