Hoyer Statement on President Obama's Proposal for Small Business Lending

"President Obama has announced a proposal to support small business lending by transferring $30 billion from the Troubled Assets Relief Program to community banks that extend credit to local businesses. The President's plan responds to a pressing need, which Members of Congress have heard repeatedly from constituents: small businesses are still struggling to get credit, which hampers their ability to expand and hire new workers. Congress remains focused on creating jobs, so I thank President Obama for confronting the problem of small business lending head-on, and I look forward to working with him on this and other proposals to aid the recovery of America's small businesses-our most important job-creators."

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