Congresswoman Kathy Castor released the following statement today regarding the Small Business Jobs and Credit Act, which is poised to pass the U.S. House of Representatives this afternoon and be sent to President Obama:

“More help for our small-business owners is on the way, including eliminating fees on small-business loans, more available credit and vital tax credits for our small-business owners.

“Local small-business owners from West Tampa to Town ‘n Country to South Tampa to South St. Petersburg are the heart and soul of our communities and jobs. Eliminating fees, providing credit and tax incentives are their top priorities – and mine.

“When the recession hit the Tampa Bay area in 2007, many of the small businesses in our community already had been dealing with numerous challenges. I am proud to have responded with meaningful and significant tax cuts for small-businesses owners in 2009 and 2010 and now the new Small Business Jobs and Credit Act.

“The Small Business Jobs and Credit Act eliminates fees on small-business loans, creates a new Small Business Lending fund in partnership with our community banks, and eliminates capital gains taxes so that businesses can reinvest.  Small-business owners will have access to credit they need through increased limits of Small Business Administration loans. The SBA has estimated that the loan increase will increase lending to small businesses by $5 billion in the first year. We are also providing small businesses with $12 billion in tax relief by cutting taxes in a variety of ways.

“While the economic policies of the past decade have been skewed to favor big businesses through off-shoring, my emphasis is our small businesses. The Small Business Jobs Act is a step toward increasing demand in the marketplace. When we increase demand, our small businesses will expand and hire. The Small Business Jobs and Credit Act will make it easier for small businesses to get the loans they need to grow. That is why I am supporting this legislation today.”