"These proposals, which were enacted as part of the recovery act have paid incredible dividends and we've seen that with the guarantee in fee reduction which has driven lending across this country. Almost 86 percent since the passage of the stimulus. In fact, these provisions have already been extended three times by Congress, but temporary extensions are not sufficient," said Snowe.
She said recovery from past recession has depended on small business growth and the same is true now. Snowe said in addition to tax changes, the Small Business Administration should be allowed to give larger loans and with lower fees. That she said, would offset the new reluctance on the part of banks to make small business loans.
Comment: If Senator Snowe wanted to do more for small business and the economy of the United States she might want to stop spending so much of our tax dollars. Giving small businesses a special tax incentive has no long term benefit. Only by reducing government spending and the size of government will we be able to put more money into every business sector and increase prosperity for all Americans.