President Obama: Senate Republicans Stop Holding Small Businesses Hostage

Washington, D.C. (July 31) – President Obama called on Senate Republicans to stop holding Small Businesses hostage in his weekly address. On a positive note, President Obama announced pronounced success within the nation’s auto industry.

The Obama Administrations decision to invest in the nation’s auto industry has paid off in a big way. Bucking opponents to his plan, Obama forged forward with the investment in American car companies pulling both GM and Chrysler Motors Corporation out of bankruptcy and turning a profit.

The auto industry has added 55,000 jobs, the strongest growth in over 10 years, and for the first time since 2004 all three major automakers are turning a profit.

Turning to the nations Small Business sector, the President remarked, “That isn’t right. And I’m calling on the Republican leaders in the Senate to stop holding America’s small businesses hostage to politics, and allow an up-or-down vote on this small business jobs bill.”

In an attempt to provide a leg-up to small businesses in the nation, Senate Republicans continue to block attempts by the Democratic Leadership to provide, “[sic] additional tax breaks and badly-needed lending assistance to America’s small business owners so they can grow and hire.”

The heart of the nations economy is small business, with efforts being stymied regarding assistance, small business are not able to provide the growth, and funding for new hires in order to stimulate the economy.

The Small Business Jobs Act is a bill that has support of groups such as, the Chamber of Commerce, and the National Federation of Independent Business. Both Democrats and Repbulicans authored the provisions in the bill; however, Republican Leaders in the Senate continue to use parliamentary procedures to block any forward movement on the bill.

Regarding the Republican Leadership’s refusal to provide aid to Main Street, and maintain their focus on Wall Street, the President had this to say, “At a time when America is just starting to move forward again, we can’t afford the do-nothing policies and partisan maneuvering that will only take us backward.”

In his closing statement, the President had the highest praise for American workers in the auto industry that played a major role in the resurrection, of both a failing industry, and an icon of American Industrialism.

Posted by worldnews on August 1, 2010. Filed under economic recovery,economy,Money,News,Politics,US Business News,US Politics,White House Press Releases,WorldNewsVine. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.