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Week of February 2nd
On Monday, President Obama sent his Fiscal Year 2011 (FY11) budget blueprint to Congress. I am very encouraged to see that his main focus is on job creation and building a framework for the long-term prosperity for all American families.
As a member of the Senate Small Business and Entrepreneurship Committee, I am particularly pleased that the President's Budget expands important support for small businesses and entrepreneurs so that they have access to capital that will make it possible for them to survive and prosper during these difficult economic times. Last week, I introduced (S. 2967) the Boosting Entrepreneurship and New Jobs Act, a bill designed to spur job creation and strengthen our economy by providing important tax credits and loans to small businesses. The President has also proposed providing similar support to small businesses, so that they can continue to create economic opportunities and put people to work.
The President's overall budget offers important support for states like Maryland as they face very difficult choices, including expanded resources for Medicaid and law enforcement. With an eye on controlling our deficits, the President's Budget contains tax cuts for 2.1 million Maryland families, $717.2 million to improve our state's schools, and $982.5 million for targeted investments in our roads, highways, and airports. Additionally, it provides $416.2 million in new funding for Pell Grants that will make it possible for more students to afford college. I am still reviewing all the details of the President's Budget to ensure that it will adequately cover the needs of all Marylanders. My priority for the Budget for FY11 is that it must lay a foundation for economic growth and job creation for Maryland and the nation without adding to our long-term debt.
UPCOMING MEDIA: I will be live on the Ron Smith Show on WBAL (1090-AM) at 5 p.m. on Friday (2/05) for listeners in the Baltimore area.
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