Posted on 09/15/2010 4:03:13 PM PDT by george76
Barack Obama’s small business jobs bill contains a dangerous loophole that could encourage billions of dollars in fraud in small business contracting programs, and protect fraudulent companies from prosecution. The bill is currently pending in the U.S. Senate.
Section 1341 of H.R. 5297, the Small Business Jobs Act, contains provisions that would allow the Small Business Administration (SBA) to develop policies and procedures that would protect large businesses that have misrepresented themselves as small businesses from prosecution for felony contracting fraud.
Since 2003, over a dozen federal investigations have found billions of dollars a month in federal small business contracts have been diverted to Fortune 500 firms, large businesses throughout the U.S. and some of the largest companies in Europe.
Section 1341 of President Obama’s jobs bill would give the SBA a blank check to develop policies that could protect large corporations from prosecution under the law.
(Excerpt) Read more at finance.yahoo.com ...
Obama Jobs Bill Could be Job Killer for Small Businesses, According to the American Small Business League
Duh!
(American Small Business League endorsed Obama for President)
Section 1341...This paragraph could legalize billions of dollars in federal contracting fraud, divert more federal funds away from legitimate small businesses, and cost America jobs.
Chickens coming home to roost
No, I refuse to believe it. Just can't be.
Obama’s just going to keep “stimulating” the economy until it stops twitching.
The list, ping
Let me know if you would like to be on or off the ping list
Obama, Reid, Pelosi and the rest of the left wing elites in DC and most states hate capitalism and in particuliar small businesses.
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