Senate Leaves for Break, Plans to Take Up Small Business Bill After Recess

[Joanne98]

Source: TWI

Today, President Obama pushed for the Senate to pass the Small Business Jobs and Credit Act — a modestly sized bill that might unlock as much as $300 billion in credit for small companies, which have created two-thirds of jobs in the past decade.

The bill is considered the Democrats’ last chance to enact any form of stimulus before the November mid-term elections, once the state aid bill becomes law next week. It creates a $30 billion lending fund to encourage small community banks to grant cheap loans to small businesses. It also includes a number of other provisions aimed at helping small businesses thrive and hire: $12 billion in targeted tax cuts and an increase in Small Business Administration loan limits, for instance.
“It is so important to pass this jobs bill for America’s small businesses. That’s where most of our jobs are created. And small businesses have been especially hard-hit by the economy,” Obama said at Gelberg Signs. “And yet, a minority in the Senate is standing in the way of giving our small businesspeople an up or down vote on this bill. And that’s a shame. These kinds of delays mean contracts are being put off, debts are adding up, workers are going without a job –- and we can’t afford it. We need to do what’s right, not what’s political, and we need to do it right now.”

But today, the Senate left without voting on the provision — though Sen. Harry Reid (D-Nev.) has paved the way for the Senate to take it up as soon as it returns from the August recess on Sept. 14. Yesterday, he filed for cloture, meaning the Senate will vote on whether to end debate the day it returns. Over the recess, Senate Democrats hope to convince Sens. George Voinovich (R-Ohio) and George LeMieux (R-Fla.) to vote for cloture, which requires 60 yeas in the Senate.


Read more: http://washingtonindependent.com/94030/senate-leaves-for-break-plans-to-take-up-small-business-bill-after-recess

[BootinUp]

1. What the hell, it can wait

lets go fiddle.

[OhioChick]

2. They take too many damn breaks n/t

[KoKo]

3. Well...that's GOOD NEWS.. First THING ON AGENDA when they COME BACK!

I'm glad they worked hard to get this FIRST on AGENDA after the RECESS.

They are working very HARD ...DAY AND NIGHT for us. They deserve a well needed break from all this Hoo Hah on their backs.

:sarcasm:

[DFLforever]

4. They're going to have to cut some deals to get this one

passed, as indicated in the article

But let not trouble our beautiful minds over what that entails.

[Synicus Maximus]

5. $300 billion is a modest sized bill? What is a large size bill?

[quakerboy]

6. I suggest looking at whatever bills fund the wars and the pentagon for starters

Also, bills helping Health insurance co's. Probably Ag sector bills that benefit big ag as well.

[BootinUp]

7. You need to read it again. There is nothing about a 300B piece

of legislation there.

[Skink]

8. recess is such a great term for this.

[Merlot]

9. Hey, they get AUGUST OFF!

What are they, European? don't they know patriotic Americans only get two weeks a year off, and they're usually afraid to take it?