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.”