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The head of the largest U.S. labor federation urged President Barack Obama yesterday to use the $700 billion Wall Street bailout fund to help cash-starved small businesses as a way to stem rising joblessness.
The head of the largest U.S. labor federation urged President Barack Obama yesterday to use the $700 billion Wall Street bailout fund to help cash-starved small businesses as a way to stem rising joblessness.
Democrats in the House aim to pass job-creating legislation before the end of the year to ease double-digit unemployment levels that threaten the economic recovery, Majority Leader Steny Hoyer said on Tuesday.
Top lawmakers are looking at a variety of options, including road construction, tax breaks and assistance to hard-pressed state governments, that could create jobs but also worsen budget deficits in the short term, Hoyer said.
“We’re moving ahead at a pace that hopefully will allow us to do something in the next three weeks,’’ the Maryland Democrat said at a news conference.