Washington (CNN) - President Barack Obama signed into law a $42 billion bill to aid small businesses Monday, saying it would create jobs by providing tax credits and helping banks increase loans.
"It's going to cut taxes. It's going to make more loans available for small businesses. It's a great victory for America's entrepreneurs," Obama said to applause at the White House signing ceremony.
While the bill's major provisions had backing from both parties, it took months of legislative wrangling to work it out.