President Barack Obama recently addressed the Senate this week at the White House Rose Garden, urging them to pass a jobs bill upon their return from August recess.

The Small Business Jobs and Credit Act was passed in June by the House of Representatives, but has remained in the idle hands of Congress since its summer hiatus began on August 9.

If the bill is passed, small businesses would benefit from a $30 billion lending fund, $12 billion in tax breaks and increased loan limits from the Small Business Administration. The financial advantages would encourage companies to invest and create jobs.

"Too many businesses are still struggling, too many Americans are still looking for work," said the President, who is also in the midst of creating an amendment to the bill "that could make a difference in both promoting growth and hiring in the short term and increasing our economy's competitiveness in the long term."

Obama also assured that the funding proposed in the bill would not contribute to the nation’s $13 trillion deficit.

Congress is scheduled to reconvene on September 13.