Democrats’ small business bill may pass
| 08/02/2010 | Filled under Finance, News, Small Business Related |
From www.reuters.com by Kim Dixon
Democrats have a chance to pass their $30 billion bill aimed at boosting lending to small business in time for the November mid-term election, U.S. Senate Republican Leader Mitch McConnell said in an interview with Reuters. Senate Republicans up to now have blocked the plan to authorize funds to invest in banks with assets of less than $10 billion, to spur investment in small businesses, dealing a blow to President Barack Obama’s effort to reduce unemployment in a congressional election year. But McConnell said it still has a chance to pass once the full Congress returns from its summer recess in September. ”Since two of my (Republican) members did support the lending facility and it did get adopted to the underlying bill … I would assume the (Democratic) majority leader would go back to it in September and have a shot at passing it,” McConnell said in a broad-ranging discussion with Reuters reporters.
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