TARP III or they just don't get itSeptember 23 2010 at 3:39 PM
Not sure which, but this bill will add to the deficit/debt without doing anything other than adding more government meddling into the private sector.
'What is in the bill: The Small Business Jobs Act authorizes the creation of a $30 billion fund run by the Treasury Department that would deliver ultra-cheap capital to banks with less than $10 billion in assets. [giving the government the power to meddle]
The idea is that community banks do the lion's share of lending to small businesses, and pumping capital into them will get money in the hands of Main Street businesses.
Another provision aims to increase the flow of capital by providing $1.5 billion in grants to state lending programs that in turn support loans to small businesses. The state programs have proven themselves to be efficient, targeted and effective, but with many states struggling to balance their budgets, the programs are going broke.
[gee, wonder why we would pour good money after bad if the programs are going broke]
The bill would also provide a slew of tax breaks that will cost $12 billion over a decade, according to a preliminary estimate from the Joint Committee on Taxation. The breaks aim to encourage small businesses to purchase new equipment, to incentivize venture capital firms to invest in small businesses, and to motivate entrepreneurs to start their own business. ' [how can not collecting taxes cost anything? spending money costs, cutting spending will eliminate the deficit and start to reduce the debt]
- Cities, State, Agencies, Depts., Law Enforcement, Colleges ... - Anonymous on Sep 24, 5:04 PM