House expected to clear small business bill Thursday

The House is expected clear on Thursday a $42 billion small-business bill for President Obama's signature. 

The House is expected to move the Senate-passed version that includes $12 billion in tax breaks and a $30 billion fund to expand credit access to small businesses, according to a Democratic aide. 

Votes aren't expected to being before noon. 

The House Rules Committee is scheduled to meet Wednesday evening to determine the debate schedule. 

Business organizations that have backed the measure say the loan fund could spur $300 billion in lending. White House officials and other supporters have said that the bill is the key to giving small businesses the support they need to hire and expand. 

The Senate passed the bill a week ago after it languished in the chamber for several months. 

The measure, which is offset, received support last week from two Republicans --  Sens. George Voinovich (Ohio) and George LeMieux (Fla.). 

A recent report by the Joint Economic Committee shows that lending and the amount of loans to small businesses has declined this year, while hiring remains flat as the smallest firms continue to reduce hiring.