Bailout Plan To Help Small Businesses

By: Lauri Martin Email
By: Lauri Martin Email

President-Elect Barack Obama now wants Congress to open the checkbook on the other half of the $700 billion bailout. Senate leaders may consider this week whether to release the money.

Mr. Obama says this won't be earmarked for big corporations. He wants to use the leftover bailout money to help out Main Street helping those who own small businesses.

"This is the tightest we've been in 13 years and the trimmest we've been with our employees," said Ann Hardy. She owns Flowerama on Fillmore in Colorado Springs.

It’s a typical small business that Mr. Obama wants to offer loans to, but Hardy says that's not what her flower shop needs. "I want them to cut my payroll taxes. Businesses have lots of taxes to send in."

Hardy says with the bad economy, it's been tough. She doesn't want a hand-out, just a little relief. “I don't need them to give them money. I just need them to quit taking so much of what I've got."

Also part of the Barack Obama’s developing plan, the president-elect says he hopes to help prevent foreclosures by reducing mortgage payments for the economically stressed.

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