Saturday, May 30, 2015

Home News Small-business bill advances in Senate

Small-business bill advances in Senate

Legislation

The bill includes a $30 billion fund designed to encourage community banks to lend to small firms.

Wall Street Journal Online | September 16, 2010

WASHINGTON - The Senate sprinted ahead Tuesday with a bill Democrats say will help small businesses, including a controversial $30 billion fund designed to encourage community banks to lend to small firms.

A key vote came when Republican Sens. George Voinovich of Ohio and George LeMieux of Florida joined 59 Democrats and independents in a 61-37 vote to shut off debate Tuesday. Aides expect the Senate bill to pass later this week, be reconciled with a House version and then signed by President Barack Obama, possibly by next week.

The bill has become the latest weapon for partisan messages in an intense election season. Democrats assert the bill will create thousands of jobs and argue it shows they are aiding working Americans while Republicans block progress, a message Mr. Obama has echoed in recent days.

But Republicans say the lending fund is another unwarranted government incursion into the free market. They have dubbed the fund "son of TARP" or "TARP Junior," in reference to the unpopular $700 billion Troubled Asset Relief Program.

Democrats say the fund is central to a bill designed to help small businesses, not big corporations, through loans from community banks, those with less than $10 billion in assets.
 
The bill's fate had become entangled with a separate battle over a provision in the health-care overhaul that requires businesses to file a 1099 tax form when they pay a vendor more than $600 in a year, a source of anger and protest from small businesses and their representatives in Washington.

Read the rest of the story here.

Top news

No-shows to show-offs

After a miserable few years, David Alexander talks with Lawn & Landscape about what he and his team had to do to improve the operations and company morale at TruGreen.

Exmark unveils Vantage S-Series Propane rider

New Kohler EFI propane powerplant can reduce fuel expenditures by up to 40 percent.

Breaking into The Big Easy

Mullin Landscape Associates began as a modest design/build outfit working on projects as New Orleans slowly recovered from Hurricane Katrina. Today, the full-service firm has the reputation and resources to make an even bigger impact.

EPA issues final Clean Water Act rule

New regulations could cover ponds, ditches and trenches.

Green industry pioneer Matt Shooner passes away

The founder of Focal Point Communications sought to grow the industry.

x