Statement by President Obama on the House Financial Services Committee Passage of the Small Business Lending Fund Act of 2010

Washington, D.C.–(ENEWSPF)–May 19, 2010.

“Small businesses are the backbone of the American economy, and where most new jobs begin.  In March, I signed into law a jobs bill that provides tax cuts to small businesses that hire new workers, and have proposed eliminating capital gains taxes on small business investments and new tax breaks for all businesses to invest in new plants and equipment.

But one of the major challenges facing small business owners is…