The White House

Office of the Press Secretary

Obama Administration Takes Immediate Actions to Help Small Businesses

WASHINGTON, DC -- The President believes that entrepreneurs and small businesses are engines of innovation and economic growth and are at the forefront of the nation's economic recovery. This is why the Obama Administration has worked to enact 18 small business tax cuts and numerous measures to help more small businesses access the credit they need to invest, hire, and grow.   

Today, the Obama Administration is announcing additional initiatives that build on this record of progress and will help our nation’s small businesses expand and create jobs.  Five of these initiatives are immediate executive actions that will accelerate Federal payments, reduce paperwork, and make it easier for small firms to access loans and tax credits, and one is a legislative proposal to raise the amount of investment small businesses can expense next year.

(1) Accelerate payments to small business subcontractors:  Through the Office of Management and Budget, the President will direct agencies to make contract payments along an accelerated timeline to all prime contractors for the next year (typically 15 days after receipt of proper documentation, as opposed to 30 days), with the understanding that those prime contractors will similarly accelerate payments to their small business subcontractors.

(2) Announce support for Section 179 expensing at $250,000 for one year (requires legislation): President Obama is calling on Congress to let small businesses write off up to $250,000 in capital investments in 2013, such as machinery and equipment, to drive productivity. This builds on the President’s proposal for 100% expensing for all firms in 2012. Because an increase in Section 179 expensing was part of the 2001 / 2003 tax cuts, this proposal is included in the President’s call for extending those tax cuts for the middle class next year. Without that extension, the expensing limit for small businesses is scheduled to decline to only $25,000 in 2013.   

(3) Increase access to capital through SBA’s Small Loan Advantage (SLA) 2.0: SBA is re-launching Small Loan Advantage, one of its key small dollar loan products, as SLA 2.0. This revamped program raises the maximum loan amount from $250,000 to $350,000, streamlines the loan process, and makes it easier for lenders to extend loans to small businesses across America. 

(4) Launch “Quick App” for surety bond guarantees under $250,000: SBA is launching “QuickApp,” a streamlined application that will eliminate the need for contractors to complete five unnecessary forms to apply for surety bonds. Providing small firms, particularly in the construction industry, streamlined access to these bonds will make it easier for them to compete for and win additional business, which is important to allowing them to expand and create jobs.   

(5) Reduce paperwork for SBA’s Disaster Loan Program: Cutting the online application from 80 screens to three or four screens (depending on loan type) will allow families and businesses easier and quicker access to support for rebuilding after a disaster.

(6) Align New Markets Tax Credit with the needs of investors in growing small firms: The Obama Administration is working on a set of regulatory reforms to the existing New Markets Tax Credit that will make it easier for community development entities (CDEs) to attract private sector funds for investment in startups and small businesses operating in lower‐income communities. The forthcoming regulations are designed to encourage CDEs to invest in other types of small local businesses by relaxing the reinvestment requirements for CDEs investing in certain operating businesses. The Treasury Department is also considering regulatory reforms that would further simplify the requirements for these CDEs and intends to publish these for comment in the future.

The White House

Office of the Press Secretary

Statement by the President on the 17th Anniversary of the Srebrenica Genocide

On July 11, we honor the memory of the over 8,000 innocent men and boys – brothers and husbands, fathers and sons – who were brutally murdered in Srebrenica 17 years ago in a brazen act of genocide that shocked the world.  The name Srebrenica will forever be associated with some of the darkest acts of the 20th century.

A measure of justice is finally being served for the victims in courts in The Hague and Bosnia and Herzegovina, as the perpetrators of this atrocity, including Ratko Mladic and Radovan Karadzic, are now being called to account for their actions.  We know that Srebrenica’s future, and that of Bosnia and Herzegovina, will not be held back by its painful recent history.  The United States rejects efforts to distort the scope of this atrocity, rationalize the motivations behind it, blame the victims, and deny the indisputable fact that it was genocide.  We all desire continued reconciliation and peaceful coexistence for the people of Bosnia and Herzegovina and the Balkans, because achieving that will be the ultimate repudiation of the evil that started the wars in Bosnia and Herzegovina and elsewhere in the region and that led to the Srebrenica genocide.  

As more innocent victims of this tragedy are laid to rest on July 11, the United States stands with the people of Bosnia and Herzegovina and grieves again for the loss of so many loved ones.  Our hearts and deepest sympathies are with them, and we pledge our enduring commitment to support their aspirations for a better tomorrow.

The White House

Office of the Press Secretary

President Obama Announces More Key Administration Posts

WASHINGTON, DC – Today, President Barack Obama announced his intent to nominate the following individuals to key Administration posts:
 
• Dorothy Kosinski – Member, National Council on the Humanities
• Dawn M. Liberi – Ambassador to the Republic of Burundi, Department of State
• Stephen D. Mull – Ambassador to the Republic of Poland, Department of State
• Walter North – Ambassador to Papua New Guinea, the Solomon Islands, and the Republic of Vanuatu, Department of State
 
President Obama said, “I am honored that these talented individuals have decided to join this Administration and serve our country.  I look forward to working with them in the months and years to come.”
 
President Obama announced his intent to nominate the following individuals to key Administration posts:
 
Dr. Dorothy Kosinski, Nominee for Member, National Council on the Humanities
Dr. Dorothy Kosinski has served as Director of The Phillips Collection since 2008.  Prior to joining The Phillips Collection, Dr. Kosinski worked at the Dallas Museum of Art, where she served in a number of capacities from 1995 to 2008, last as Senior Curator of Painting and Sculpture.  From 1985 to 1997, she worked with the Douglas Cooper Collection of cubist art in Basel, Switzerland.  She also served as an independent curator of major exhibitions at the Royal Academy of Arts, London; The Kunstmuseum Basel; The Kunstmuseum Wolfsburg; and The National Gallery in Prague. Dr. Kosinski has written and edited many books and catalogs on a variety of art topics including 19th Century Symbolism, Dada, Surrealism, 20th Century sculpture and contemporary art.  She currently serves on the Board of the Association of Art Museum Directors and the Advisory Board of The Musée Rodin, Paris. Dr. Kosinski received a B.A. from Yale University and an M.A. and Ph.D. from the Institute of Fine Arts at New York University.
 
Dawn M. Liberi, Nominee for Ambassador to the Republic of Burundi, Department of State
Dawn M. Liberi, a career member of the Senior Foreign Service, class of Career Minister, most recently served as the Senior Assistance Coordinator at the U.S. Embassy in Tripoli.  From 2009 to 2011, she served as Coordinator for the Interagency Provincial Affairs Office at the U.S. Embassy in Kabul and as Senior Civilian Representative for the Combined Joint Task-Force 82 with the International Security Assistance Force Regional Command-East at Bagram Airfield, Afghanistan.  From 2006 to 2009, she was an Executive Civil-Military Counselor with USAID.  From 2005 to 2006, Ms. Liberi was the USAID Mission Director in Iraq.  She previously served as the USAID Mission Director in Nigeria (2002-2005) and Uganda (1998-2002).  Other assignments have included: USAID Associate Assistant Administrator in the Global Bureau, Population, Health and Nutrition Office (1994-1998); USAID Deputy Mission Director in Ghana (1992-1994); and Population, Health and Nutrition Technical Officer for USAID's missions in Senegal and Niger from (1981-1987).  Ms. Liberi received a Bachelor's Degree from Hampshire College and an M.P.H. from the University of California at Berkeley.  
 
Ambassador Stephen D. Mull, Nominee for Ambassador to the Republic of Poland, Department of State
Ambassador Stephen D. Mull, a career member of the Senior Foreign Service, Class of Career-Minister, is Executive Secretary at the Department of State, a position he has held since June 2010.  Prior to this position, he was Senior Advisor to the Under Secretary for Political Affairs from 2008 to 2010, and Principal Deputy Assistant Secretary for Political Military Affairs from 2006 to 2008.  From 2007 to 2008, he served concurrently as Acting Assistant Secretary for Political-Military Affairs.  Ambassador Mull served as U.S. Ambassador to the Republic of Lithuania from 2003 to 2006, and as Deputy Chief of Mission at the U.S. Embassy in Indonesia from 2000 to 2003.  With over 30 years of service at the State Department, Ambassador Mull’s previous positions include: Deputy Executive Secretary (1998-2000); Director of the Office of Southern European Affairs (1997-1998); Political Counselor at the U.S. Embassy in Poland (1993-1997); and Deputy Director of the State Department Operations Center (1991-1993).  Ambassador Mull received a B.S. from Georgetown University.
 
Walter North, Nominee for Ambassador to Papua New Guinea, the Solomon Islands, and the Republic of Vanuatu, Department of State
Walter North, a career member of the Senior Foreign Service, class of Career-Minister, is currently the United States Agency for International Development (USAID) Mission Director in Egypt.  Mr. North previously served as USAID Mission Director in Indonesia (2007-2011); India (2000-2004); and Zambia (1996-2000), as well as Deputy Mission Director in Ethiopia (1992-1996).  Posts at USAID’s Washington headquarters have included: Interim Assistant Administrator for the Bureau for Africa (2006-2007); Deputy Assistant Administrator for the Bureau for Policy and Program Coordination (2005-2006); and Deputy Assistant Administrator for the Bureau for Asia and the Near East (2004-2005).   Before joining USAID in 1980, Mr. North was a project manager for the non-profit, humanitarian organization, CARE in India and Bangladesh, and a Peace Corps Volunteer in Ethiopia. He received a B.A. from Lawrence University, a J.D. from George Washington University Law School, and an M.P.A. from Harvard University.
 

The White House

Office of the First Lady

Rail Industry Joins Forces with Secretary LaHood and First Lady’s Initiative to Hire Veterans

500 rail industry companies to hire over 5,000 veterans in 2012

WASHINGTON, D.C. – Today, Secretary of Transportation Ray LaHood, Association of American Railroads (AAR) President and CEO Ed Hamberger and Joining Forces Executive Director Brad Cooper announced that the railroad industry will hire more than 5,000 veterans in 2012. Five hundred companies and organizations including freight, inter-city passenger and commuter railroads, as well as rail supply companies represented by AAR are making today’s significant commitment.

“As a result of their service, veterans have the right skills and training for successful careers in transportation,” said U.S. Secretary of Transportation Ray LaHood. “Helping our veterans find work strengthening America’s transportation system is a commitment we are proud to fulfill.”

The rail industry joins the First Lady and Dr. Biden’s Joining Forces initiative launched last year to bring Americans together to recognize, honor and take action to support veterans and military families as they serve our country and throughout their lives. More than 1,600 companies have hired more than 90,000 veterans and military spouses in the last year through Joining Forces. These same companies have committed to hire 170,000 veterans and military spouses in the coming years.

“The commitment from AAR and companies in the railway industry to veteran hiring is exactly the type of effort we hoped to see when the First Lady and Dr. Biden launched Joining Forces last year – companies stepping up to hire our nation’s veterans. The railway industry clearly recognizes that hiring veterans is good for their companies’ bottom line and we are appreciative of their efforts to serve veterans as well as they have served this country,” Joining Forces Executive Director Brad Cooper said.

Railroad companies have hired military men and women for almost two centuries and today 25 percent of the industry’s workforce has military service. This is because of the natural link between military service skills and railroad careers. Servicemen and women gain experience working with heavy machinery, managing safety operations, conducting their work in challenging conditions, promoting teamwork and being adaptable. Knowing that these skills are easily translatable, the rail industry is looking to veterans to fill jobs that have become available due to waves of retirements occurring every year. Today, roughly 23 percent of the railroad workforce is eligible to retire by 2015.

“Railroads offer people the chance to have true life-long careers in well-paying jobs,” said Hamberger. “We are proud to offer our heroes transitioning from military service the opportunity for another career in service to our country.”

Key Commitments and Opportunities in the Rail Industry Include:
• Freight Railroads: the nation’s freight railroads, including the country’s major Class I and shortline railroads, will hire at least 4,700 veterans in 2012.  This year’s aggressive hiring target is in line with the industry’s sizable hiring trend kicked off in 2011 in the face of a significant wave of retirements.
• Passenger Railroads: the nation’s inter-city passenger and commuter railroads will hire approximately 500 veterans in 2012, based on the significant need to fill positions being made vacant through retirements as well as through typical attrition. Passenger railroads also estimate 12 to 14 percent of new hires will be veterans.
• Rail Supply Companies: dozens of the nation’s rail supply companies represented by AAR have committed to hire at least 200 veterans in 2012.  These companies are responsible for supplying materials and equipment, including rail components, cars and locomotives and cutting edge technology.

To connect veterans with employment opportunities available today, AAR is also collaborating with the Department of Transportation to list available rail industry jobs on the newly established “Veteran Transportation Career Center” website at: http://www.dot.gov/veteranstransportationcareers/ To learn more about the companies participating in the Joining Forces commitment, please visit www.aar.org, or to learn about the rail industry’s history of hiring veterans, please visit www.aar.org/jobs. For more information on Joining Forces, please visit www.JoiningForces.gov.

The White House

Office of the Press Secretary

Statement by the Press Secretary on H.R. 33, H.R. 2297, and S. 3187

On Monday, July 9, 2012, the President signed into law:

H.R. 33, the "Church Plan Investment Clarification Act," which amends the Securities Act of 1933 to provide specifically for an exemption from SEC requirements in connection with church pension plans participating in collective trust funds;

H.R. 2297, which makes technical amendments to the District of Columbia Code to facilitate development of the Southwest Waterfront in the District of Columbia; and

S. 3187, the "Food and Drug Administration Safety and Innovation Act," which reauthorizes a number of FDA user fee programs, including the Prescription Drug User Fee Act and Medical Device User Fee and Modernization Act, and increases FDA's ability to provide timely and expedited review and approval of applications for prescription drugs and medical devices; authorizes new user fee programs for generic drugs and biosimilar biological products; extends and modifies FDA authorities related to drugs intended for use by children; and improves the drug approval process and helps to reduce drug shortages.

The White House

Office of the Press Secretary

Statement by the President on Libya

On behalf of the American people, I extend my congratulations to the people of Libya for another milestone on their extraordinary transition to democracy. After more than 40 years in which Libya was in the grip of a dictator, today’s historic election underscores that the future of Libya is in the hands of the Libyan people. Across Libya today, voters turned out to exercise their hard-earned freedoms, most participating in an election for the first time in their lives. They cast ballots for representatives of a National Congress that will lead the next stage of Libya’s transition.

The United States is proud of the role that we played in supporting the Libyan revolution and protecting the Libyan people, and we look forward to working closely with the new Libya – including the elected Congress and Libya’s new leaders. We will engage as partners as the Libyan people work to build open and transparent institutions, establish security and the rule of law, advance opportunity, and promote unity and national reconciliation. There are still difficult challenges ahead and voting needs to be completed in some areas. As they begin this new chapter, the Libyan people can count on the continued friendship and support of the United States.

 

###

The White House

Office of the Press Secretary

WEEKLY ADDRESS: Pushing Congress to Create Jobs, Keep College in Reach for Middle Class

WASHINGTON, DC—In this week’s address, President Obama spoke to the American people from Ohio about a bill signed on Friday that does two important things: it keeps thousands of construction workers on the job rebuilding our crumbling infrastructure, and it stops interest rates on federal loans from doubling this year for more than seven million students.  The President urges Congress to do more to help our economic recovery and create jobs, including taking half the money we’re no longer spending on war and using it to build roads, bridges and wireless networks at home, and expanding financial aid to two million students while giving them the opportunity to learn the skills that businesses need right now.  It’s time for our elected officials to come together to help strengthen the middle class.

The audio of the address and video of the address will be available online at www.whitehouse.gov at 6:00 a.m. ET, Saturday, July 7, 2012.

Remarks of President Barack Obama
As Prepared for Delivery
Boardman, OH
Saturday, July 7, 2012

Hi, everybody.  I’m here in Ohio, where I’ve spent the past couple days talking with folks about our central challenge as a country – not just reclaiming all the jobs lost to the recession, but reclaiming the economic security that so many Americans have lost over the last decade.

Our mission isn’t just to put people back to work – it’s to rebuild an economy where that work pays; an economy in which everyone who works hard has the chance to get ahead.

For months, I’ve been pushing Congress to pass several common-sense ideas that will help us do that.  And on Friday, I signed into law a bill that will do two things for the American people.

First, it will keep thousands of construction workers on the job rebuilding our nation’s infrastructure. 

Second, it will keep interest rates on federal student loans from doubling this year – which would have hit more than seven million students with about a thousand dollars more on their loan payments. 

Those steps will make a real difference in the lives of millions of Americans.  But make no mistake: we’ve got more to do. 

The construction industry was hit brutally hard when the housing bubble burst.  So it’s not enough to just keep construction workers on the job doing projects that were already underway.

For months, I’ve been calling on Congress to take half the money we’re no longer spending on war and use it to do some nation-building here at home.  There’s work to be done building roads and bridges and wireless networks.  And there are hundreds of thousands of construction workers ready to do it.

The same thing is true for our students.  The bill I’m about to sign is vital for millions of students and their families.  But it’s not enough to just keep their student loan rates from doubling. 

For months, I’ve been calling on Congress to reform and expand the financial aid that’s offered to students.  I’ve been asking them to help us give two million Americans the opportunity to learn the skills that businesses in their area are looking for – right now – through partnerships between community colleges and employers. In America, a higher education cannot be a luxury reserved for just a privileged few.  It’s an economic necessity that every American family should be able to afford.    

Finally, I want to thank every American who took the time to sit down and write a letter, type out an e-mail, make a phone call or send a tweet hoping your voice would make a difference.  I promise you – your voice made all the difference.  And as long as I have the privilege of being your President, your voice will be heard in the White House.

Thanks and have a great weekend.

###

 

The White House

Office of the Press Secretary

Statement by the Press Secretary on H.R. 4348

On Friday, July 6, 2012, the President signed into law:

H.R. 4348, the "Moving Ahead for Progress in the 21st Century Act" or "MAP-21", which reauthorizes taxes that support the Highway Trust Fund through September 30, 2016, and authority to make expenditures from that Fund through September 30, 2014, and makes major reforms to surface transportation programs; reauthorizes the National Flood Insurance Program (NFIP) through September 30, 2017, and makes major reforms to the NFIP; and extends for one year, until July 1, 2013, the current interest rate of 3.4 percent on all new subsidized Federal Direct Stafford Loans for undergraduate students.

The White House

Office of the Press Secretary

President Obama Signs Minnesota Disaster Declaration

The President today declared a major disaster exists in the State of Minnesota and ordered Federal aid to supplement state and local recovery efforts in the area affected by severe storms and flooding during the period of June 14-21, 2012. 

Federal funding is available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair or replacement of facilities damaged by the severe storms and flooding in the counties of Aitkin, Carlton, Cook, Crow Wing, Dakota, Goodhue,  Kandiyohi, Lake, Meeker, Pine, Rice, Sibley, St. Louis, and the Fond du Lac Band of Lake Superior Chippewa, Grand Portage Band of Lake Superior Chippewa, and the Mille Lacs Band of Ojibwe.

Federal funding is also available on a cost-sharing basis for hazard mitigation measures for all counties and Indian Tribes within the State.

W. Craig Fugate, Administrator, Federal Emergency Management Agency (FEMA), Department of Homeland Security, named Mark A. Neveau as the Federal Coordinating Officer for federal recovery operations in the affected area. 

FEMA said additional designations may be made at a later date if requested by the state and warranted by the results of further damage assessments.

The White House

Office of the Press Secretary

Statement by Chairman of the Council of Economic Advisers Alan Krueger on the Employment Situation in June

While the economy is continuing to heal from the worst economic downturn since the Great Depression, much more remains to be done to repair the damage from the financial crisis and deep recession that followed.  It is critical that we continue the policies that build an economy that works for the middle class and makes us stronger and more secure as we dig our way out of the deep hole that was caused by the severe recession.  There are no quick fixes to the problems we face that were more than a decade in the making. President Obama has proposals to create jobs by ending tax breaks for companies to ship jobs overseas and supporting State and local governments to prevent layoffs and rehire hundreds of thousands of teachers.

Today’s report from the Bureau of Labor Statistics (BLS) shows that private establishments added 84,000 jobs last month, and overall non-farm payroll employment rose by 80,000.  The economy has now added private sector jobs for 28 straight months, for a total of 4.4 million payroll jobs during that period. Employment is growing but it is not growing fast enough given the jobs deficit caused by the deep recession.

The average work week for private sector workers rose by 0.1 hour in June.  Aggregate private sector work hours posted their largest gain since February, rising by 0.4 percent.  The stronger increase in work hours than in payroll employment suggests that many businesses chose to expand on the intensive margin as opposed to the extensive margin in June. 

The unemployment rate was unchanged at 8.2 percent in June, according to the BLS household survey.   The unemployment rate is 0.9 percentage point below its level a year ago. 

Manufacturing employment continues to expand and manufacturers added 11,000 jobs in June. After losing millions of manufacturing jobs in the years before and during the recession, the economy has added 504,000 manufacturing jobs since January 2010--the strongest growth for any 29-month period since April 1995.  To continue the revival in manufacturing jobs and output, the President has proposed tax incentives for manufacturers, enhanced training for the workforce, and measures to create manufacturing hubs and discourage sending jobs overseas.

Other sectors with net job increases included temporary help services (+25,200), leisure and hospitality (+13,000), and wholesale trade (+8,800). Retail trade lost 5,400 jobs, government lost 4,000 jobs, and motion pictures and sound recording lost 4,200 jobs.  Local governments shed 14,000 education jobs. 

As the Administration stresses every month, the monthly employment and unemployment figures can be volatile, and employment estimates can be subject to substantial revision.  Therefore, it is important not to read too much into any one monthly report and it is informative to consider each report in the context of other data that are becoming available.

Alan B. Krueger is Chairman of the Council of Economic Advisers.