News Release
« BackSmall Business Credit and Tax Bill on Senate Floor
Tuesday, July 20, 2010
Legislation intended to improve access to credit for small businesses and spur hiring is currently on the Senate floor. One Voice members successfully convinced Senators to move forward and begin considering a bill, to which they agreed by a 66-33 vote. The Small Business Jobs Act creates a $30 billion lending pool for community bankers to use for small businesses and $12 billion in tax incentives. The House passed its version of the lending and tax measure on June 19. However, concerns are mounting that the increasing size and cost of the legislation may jeopardize the critical loan facility provisions and the bill’s overall chances of passing.
One Voice members have testified before Congress, met with Vice President Biden, Federal Reserve Chairman Ben Bernanke, and Secretary of Commerce Gary Locke among other high ranking officials to work on improving access to sufficient credit for small manufacturers. You can contact your Senators at www.metalworkingadvocate.org/action.asp and tell them to pass a bill to improve credit without adding amendments that increase the size of the bill.
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