Political Junky
Gold Member
- May 27, 2009
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Wow, Republicans voted against a help for small business, while they fight for tax cuts for the top 2%.
Republicans block small-business lending bill - Business - Modbee.com
By Stephen Ohlemacher
The Associated Press
WASHINGTON — President Barack Obama's election- year jobs agenda suffered a new setback Thursday when Senate Republicans blocked a bill creating a $30 billion government fund to help open up lending for credit-starved small businesses.
The fund would be available to community banks with less than $10 billion in assets to help them increase lending to small businesses. The bill would combine the fund with about $12 billion in tax breaks aimed at small businesses.
Democrats say banks should be able to use the lending fund to leverage up to $300 billion in loans, helping to loosen tight credit markets. Some Republicans, however, likened it to the unpopular bailout of the financial industry.
Read more: Republicans block small-business lending bill - Business - Modbee.com
Republicans block small-business lending bill - Business - Modbee.com
By Stephen Ohlemacher
The Associated Press
WASHINGTON — President Barack Obama's election- year jobs agenda suffered a new setback Thursday when Senate Republicans blocked a bill creating a $30 billion government fund to help open up lending for credit-starved small businesses.
The fund would be available to community banks with less than $10 billion in assets to help them increase lending to small businesses. The bill would combine the fund with about $12 billion in tax breaks aimed at small businesses.
Democrats say banks should be able to use the lending fund to leverage up to $300 billion in loans, helping to loosen tight credit markets. Some Republicans, however, likened it to the unpopular bailout of the financial industry.
Read more: Republicans block small-business lending bill - Business - Modbee.com