Obama calls for quick passage of jobs bill

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President Obama on Friday called for quick passage by the Senate of a jobs bill to help boost the economy as the government reported a slight drop in the unemployment rate coupled with a net loss of jobs.

Speaking after a visit to a heating and air conditioning company in Lanham, Md., Obama used language similar to what he has used in recent days as he also seeks to stimulate congressional bipartisanship.

“Next week, Congress will start debating many of the jobs proposals I’ve outlined today and in recent days, many of the proposals to benefit small business, many of the proposals to spur hiring,” Obama said. “If there are additional ideas from either party, I’m happy to consider them as well. But what I hope -- what I strongly urge -- is that we work quickly and we work together to get this done. America’s small businesses are counting on us.”

Obama spoke hours after the government reported that the jobless rate had fallen to 9.7%, but that 20,000 more jobs had been lost. Economists had expected the unemployment rate to stay around 10% and predicted a slight net increase in jobs.

“These numbers, while positive, are a cause for hope but not celebration because far too many of our neighbors and friends and family are still out of work,” Obama said. “We can’t be satisfied when another 20,000 have joined their ranks and millions more Americans are under-employed, picking up what work they can.”

In his State of the Union speech, Obama said his administration would concentrate on job creation. The House has already passed a jobs package and the Senate is expected to begin voting next week on its version.

Obama said his administration was focusing on small business because they have “created roughly 65% of new jobs in America. These are companies formed around kitchen tables and family meetings; formed when an entrepreneur takes a chance on a dream; formed when a worker decides it’s time she became her own boss. And it’s worth remembering every once in a while, a small business becomes a big business, and then changes the world.”

Specifically, the Obama administration has proposed a tax credit $5,000 for each new employee. The administration will also use $30 billion to give lending capital to community banks in the expectation that the money will fund job growth.

The federal Small Business Administration has increased loan guarantees and reduce fees, Obama said. The administration will also seek legislation to increase SBA loan guarantees to $5 million compared with the current $2 million.

-- Michael Muskal

Twitter.com/LATimesmuskal

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