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Latino Daily News

Friday September 17, 2010

Puerto Rico to See $20 Million from Small Business Bill Just Passed

Yesterday the Senate in a 61 to 38 vote passed a small business aid bill that will make obtaining credit easier and cut taxes of these businesses all with the intended motive of creating more jobs. 

The bill contains $12 billion in tax relief and a $30 billion lending fund to be administered by the Treasury Department.  Puerto Rico will be in line for an estimated $20 million stated Governor Luis Fortuño. 

“Small businesses in Puerto Rico play a vital role in our economy,” Fortuño said. “This legislation contains a winning combination of incentives to stimulate the flow of credit and capital, which is what is most needed for sustained growth and job creation in the sector.”