Small Business Aid Bill Clears Senate

[savalez]

Source: AP / Huffpo

WASHINGTON — The Senate has advanced a bill to create a $30 billion government fund to help open lending for credit-starved small businesses, handing President Barack Obama a long-sought victory.

Democrats beat back a GOP filibuster of the measure with crucial help from Ohio Republican Sen. George Voinovich. The 61-37 tally sets the stage for a final vote later this week to return the measure to the House, which is likely to approve it for Obama's signature.

The new fund would help community banks increase lending to small businesses hurt by the recession and the 2008 Wall Street crisis. The bill would also provide about $12 billion in tax breaks over a decade to both large and small businesses.

Read more: http://www.huffingtonpost.com/2010/09/14/small-business-aid-bill-s_n_715848.html#

[Tippy]

1. K&R.....WE need to thank Sen Voinovich for his vote....

Democrats beat back a GOP filibuster of the measure with crucial help from Ohio Republican Sen. George Voinovich

[valerief]

2. Did Ben Nelson vote for it? Who were the non-Dems who voted for it?

57 Dems + 2 Reps + Bernie = 60. Who else?

Updated

Just found this:
http://news.yahoo.com/s/ap/20100914/ap_on_bi_ge/us_small_business_lending_5

Democrats cracked a GOP filibuster of the bill with the help of two Republicans: Sens. George Voinovich of Ohio and George LeMieux of Florida.

The 61-37 tally sets the stage for a final vote later this week to return the measure to the House, which is likely to approve it for Obama's signature.

[EFerrari]

3. Good news.

:applause:

[Beetwasher]

4. This Is Good And Will Help Create/Save Jobs

n/t

[savalez]

5. The bill will create a $30 billion fund

for independent community banks to encourage lending to small business.

It includes $12 billion in tax breaks for small business.

It does not add to the deficit.

Senate Majority Harry Reid said the bill is the biggest job growth driver since last year's stimulus bill.

[Beetwasher]

8. Reid Is Correct, Small Businesses Needs These Loans

They will use them to make payrolls so they don't have to lay off people and to expand their business by hiring more employees.

[indimuse]

6. KNR!

:toast:

[Dappleganger]

7. Very good.

should have done this last year.

[Hosnon]

9. This is HUGE. We have three small business owners in our family,

one of which has seen its access to credit nearly completely eliminated. Employees are on the chopping block just to keep the doors open...

Hurry PLEASE!

[Abq_Sarah]

10. Excellent.

Businesses that rely on lines of credit have been badly burned by the lack of lending.

Now maybe they can take a look at getting rid of that asinine new 1099 requirement.