•  Says it funnels federal small business funds to corporate giants

•  ‘It's too little, too late’

The new federal jobs bill, signed Thursday by President Barack Obama, falls short of its potential to help small business says Lloyd Chapman, president of the American Small Business League of Petaluma.

He says the bill fails to include provisions that would halt diversion of up to $120 billion a year in federal small business contracts to Fortune 500 firms and other large businesses.

"I don't think this jobs bill is going to work. It's too little, too late,” says Mr. Chapman. “Ending the diversion of federal small business contracts to large businesses would put more money into the middle class and create more jobs than anything President Obama or Congress have ever proposed."

Since 2003, over a dozen federal investigations have found that every month billions of dollars in federal small business contracts are diverted to large businesses around the world, the ASBL says.

Source: http://www.centralvalleybusinesstimes.com/stories/001/?ID=14671