President Expects More From Senate Before August Recess

President Barack Obama told reporters Friday that despite the obstacles that were overcome this week and the changing progress that was made, he hopes the Senate will act swiftly in passing a small business bill before Congress’ August break.

“I hope we can now finish the job and pass the small business jobs plan without delay and without partisan wrangling,” President Obama said.

Earlier this week the Obama administration accomplished its second major legislative victory of the year after the president signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, essentially overhauling the financial regulatory system.

In addition to financial reform, the Obama administration is celebrating the extension of unemployment benefits, renewing them for  2.5 million jobless workers can receive while they look for work.

What is evidently a week filled with progress and change, President Obama said he hopes the Senate has a little more energy to pass a small businesses lending bill before the upcoming recess.

“Our goal is to make sure that people who are looking for a job can find a job,” he said. “That’s why it’s so important for the Senate to pass the additional steps that i’ve asked for, to cut taxes and expand lending for America’s small businesses, our most important engine for hiring and for growth.”

The small business bill will set up a new lending fund that will allow community banks to help local entrepreneurs and will more than double the size of loans these businesses can pull out.

“A small business jobs bill that contains these measures may come up for a final vote in the Senate in the next few days,” Obama said.