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No MBL Mention in Obama Package

Backers of measure to raise lending cap can continue efforts as measure moves through Congress.

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The $447 billion jobs package that President Obama unveiled Thursday night during a speech to a joint session of Congress doesn’t include support for raising the cap on member business loans.

Obama’s proposal includes tax cuts and additional government spending aimed at encouraging businesses to hire more employees and to bring down the unemployment rate, which is currently 9.1%, according to the Labor Department.

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