“The Senate Republican leadership needs to stop its efforts to block it,” Barack Obama said yesterday, calling for passage of The Small Business Jobs and Credit Act of 2010. What Obama failed to say about his own purely political obstructionist behavior is that the bill was set aside 6 times by the Democratic majority since it was delivered to the Senate in June.1
Now desperate to pass any legislation friendly to small business before the midterm elections, Obama also failed to mention that The Small Business Jobs and Credit Act of 2010 previously ignored by Senate Democrats now includes matters completely unrelated to creating jobs for small businesses – like $1 billion in agriculture spending.2
An article published in yesterday’s edition of The Wall Street Journal highlights a recent government report stating that most jobs lost at the end of 2009 in the United States were at small businesses with less than 50 employees but that employ nearly one-third of the nation’s workers.3
If Obama were serious about helping small business, he would recommend that others serving in Congress join Democratic Senators Evan Bayh, Kent Conrad, and Ben Nelson in supporting the extension of President George W. Bush’s 2001 and 2003 tax cuts due to expire at the end of the year. Such a recommendation might decrease the widespread belief that Obama is willing to do or say anything for his personal advantage in an election, as the firms scheduled to be penalized by Obama’s tax increases currently supply one-fourth of all jobs in small business.4
1. Barack Obama, “Statement by the President on the Economy,” The White House, http://www.whitehouse.gov/the-press-office/2010/08/19/statement-president-economy.
2. Legislative Bulletin, “H.R. 5297, The Small Business Jobs and Credit Act of 2010,” Democratic Policy Committee, http://dpc.senate.gov/dpcdoc.cfm?doc_name=lb-111-2-106.
3. Sara Murray, “Small Firms Lagging, With Bulk of Job Losses,” The Wall Street Journal, August 19, 2010, U.S. News.
4. Karl Rove, “Deconstructing Harry Reid,” The Wall Street Journal, August 19, 2010, Opinion.