Obama signs U.S. small business lending bill worth US$30 billion


WASHINGTON–Scoring a prized political victory five weeks before the Nov. 2 elections, President Barack Obama on Monday signed a bill to help small businesses expand and hire by cutting their taxes and creating a US$30 billion loan fund. Obama said the incentives will help small businesses right away.

But any hiring may not be enough to help some Democrats ahead of crucial elections in which voters are expected to vent their frustrations over a slow-growing economy and near-10 percent unemployment.