Another piece of news is that Lou Dobbs, former CNN host, may have hired illegal immigrants to tend to the stables at his multimillion-dollar estates. The Nation reported that it had spoke to five undocumented workers who say they once were employed by Dobbs. A workers who said he tended the stable for Dobbs told The Nation he received $500 a week for typically 65 hours of work. Other workers reported similar low pay for long hours, and all said that they were undocumented. If this is true it may hurt Dobbs's credibility because he has been known to rail against illegal immigration on his radio show and was notorious for anti-illegal-immigration rhetoric on his CNN program — including floating a theory that H1N1 had been carried to the United States by illegal immigrants.
On the economic front, President Obama recently signed into law a $42 billion bill to aid small businesses, saying it would create jobs by providing tax credits and helping banks increase loans.
CNN reported that the Small Business Jobs Act authorizes the creation of a $30 billion fund run by the Treasury Department that would deliver ultra-cheap capital to banks with less than $10 billion in assets. The idea is that community banks do the lion's share of lending to small businesses, and pumping capital into them will get money in the hands of main-street businesses. Another provision aims to increase the flow of capital by providing $1.5 billion in grants to state lending programs that in turn support loans to small businesses. The state programs have proven themselves to be efficient, targeted and effective, but with many states struggling to balance their budgets, the programs are going broke. The bill would also provide a slew of tax breaks that will cost $12 billion over a decade, according to a preliminary estimate from the Joint Committee on Taxation. The breaks aim to encourage small businesses to purchase new equipment, to incentivize venture capital firms to invest in small businesses, and to motivate entrepreneurs to start their own business.
Republicans, looking to deny Democrats any advantage in the upcoming November elections, criticized the bill. "Unfortunately, this bill does nothing to help end the uncertainty that is crippling job creation and hurting small businesses," House Minority Leader John Boehner, R-Ohio, said. "Instead it puts taxpayers on the hook for even more bailouts." Democrats on the other hand praised the bill, "I assure you we would not have this bill without this president," said Rep. Al Green, D-Texas, adding that the measure would help small businesses expand and help entrepreneurs launch new businesses. "Most minority businesses are small businesses," Green said.
