The president once again urged Congress this week to pass a $30 billion measure to provide tax breaks and loans to small businesses.
The bill is bogged down in the Senate and the president hit the road to sell it, travelling to a bakery in Seattle. He continued the pitch back in Washington, urging Congress to pass it on return from summer recess.
The jobs bill, which is also stalled in Congress, would completely eliminate taxes on key investments in small businesses. It would allow small-business owners to write off more expenses.
Republicans say Democrats will not allow them to change the bill and have set it aside a handful of times in the Senate to work on other priorities.
In the meantime, there may be some relief for cash-strapped businesses. The Federal Reserve says for the first time in about four years, banks have eased lending terms for small businesses. According to the Fed, it’s mostly larger banks are loosening their restrictions.