Obama jobs plan: Bailout for Main Street

Key parts of Obama job creation package

Here are the key elements of the job creation package President Barack Obama outlined Tuesday:

Small Business Incentives

-Eliminating capital gains taxes on new investments in small businesses through 2010, if the investments are held for at least five years.

-Extension through 2010 of a law that allows small businesses to take immediate tax write-offs on up to $250,000 of qualified investments.

-An employment tax cut through 2010 to encourage small business hiring.

-Making Small Business Administration loans more readily available, by eliminating fees and increasing federal loan guarantees in 2010.

Roads, Bridges and Other Infrastructure

-Up to $50 billion in new spending on ready-to-go construction projects.

-New merit-based procedures to select infrastructure projects for financing.

Energy Efficiency Investments

-Rebates for homeowners to make energy efficient improvements.

-Expansion of programs that use federal money to leverage private investments in industrial and manufacturing projects that use clean energy.

more details here:

Job Creation and Economic Growth

President Obama outlines the steps his Administration has taken to stimulate economic growth and plans to create new American jobs in remarks to the Brookings Institution in Washington, DC. December 8, 2009.

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Filed under Bailout, Cities, Economy, Jobs, Money, Small Business

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