Washington, D.C. –U.S. Rep. Allyson Schwartz voted for legislation today that will boost lending for small businesses and provide targeted tax relief so businesses can expand, hire and fuel our economy. The Small Business Lending Fund Act passed by the House today offers eight new tax incentives to small businesses, closes tax loopholes that reward corporations that ship jobs overseas, and is expected to create 500,000 jobs by encouraging the development of small businesses.

“Small businesses are the backbone of our economy and with the right tools they can create a stronger business climate that encourages growth, innovation and job creation,” Schwartz said. “With increased access to capital and new tax cuts, our nation’s small businesses will be able to put more Americans back to work and help build long-term economic growth.”

The Small Business Lending Fund Act will help America’s 27 million small businesses create new jobs with $12 billion in tax cuts. It will make local businesses more competitive with big corporations by leveraging up to $300 billion in private sector lending for small businesses, along with state grants for small business lending.

The legislation takes another step to end job outsourcing by ending tax incentives for companies that ship jobs overseas.

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