Senate passes a bill for small-business tax cuts and loans

Legislation backed by President Barack Obama to give tax cuts and loan assistance to small businesses was passed in the Senate. The bill aims to help small businesses expand and includes a $30 billion loan fund and $12 billion in tax reductions. House Speaker Nancy Pelosi, D-Calif., said her chamber will act quickly to take up the Senate version of the measure and send it to Obama's desk. The bill might get a vote in the House next week.

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