rssRepublicans Filibuster Small Business Bill
Thursday, July 29, 2010 at 2:26 pm
- 204 Comments
Today, in Senate dysfunction: Republicans filibustered a long-embattled small-business bill — designed to create jobs, created with bipartisan input, and delayed for weeks now — to force Sen. Harry Reid (D-Nev.), the majority leader, to allow them to propose more amendments.
“81 percent of the jobs lost in America are from small business,” Sen. Mary Landrieu (D-La.), the head of the Small Business Committee, said after the failed vote. “When the other side complains and complains and just flaps and flaps all day long about it’s a jobless recovery, we put a bill on the floor to creates jobs for small business and they say no…. They can color it, paint it any way they want, that’s what it was.”
Republicans filibustered, 57 to 41, preventing Democrats from gaining 60 votes for cloture to end debate and move to a majority-rules vote on the bill. (Reid changed his vote to “nay” for procedural reasons, allowing him to call it again. Sen. Joe Lieberman (I-Ct.), who caucuses with the Democrats, was not present to vote, nor was Sen. John Ensign (R-Nev.). Nobody crossed the aisle.) Sen. Olympia Snowe (R-Maine), the ranking Republican on the Small Business Committee and an author of the bill, chose not to vote for cloture. In a floor speech before the vote, she called Democrats’ refusal to allow more amendments a “disgrace.”
This morning, Democrats and Republicans engaged in heated negotiations on the bill. Reid offered to drop $1.5 billion in emergency aid for farmers whose crops have been ruined by natural disasters. But Republicans wanted consideration of amendments concerning top-bracket income tax rates, which if allowed to increase would hurt small businesses, Republicans said. They also wanted consideration of Sens. Blanche Lincoln (D-Ark.) and Jon Kyl’s (R-Ariz.) proposal setting the estate tax at 35 percent. (Democrats want to address tax issues in separate bills.)
The small business legislation as currently written eliminates capital gains taxes for investment in small businesses and creates a $30 billion fund to encourage small banks to lend to small businesses, among many other provisions. Senate Democrats might take the bill back up as soon as today.
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204 Comments
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Comment posted July 29, 2010 @ 8:32 pm
There you go!!!!!!! This proves that the Republicans and the Democrats really do not want our economic situation to improve. They shut down a Small Business bill. Say no more. Not a dollar of Tarp 1 or 2 or the Stimulus went to the SBA, yet billions and trillions went to big business corporations and banks.
I'm pissed again.
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Comment posted July 29, 2010 @ 9:25 pm
Please explain why you condemn Democrats who are trying to do something along with the Republicans trying to stop everything.
You're just factually wrong about the SBA not receiving stimulus funds. http://www.sdbj.com/news/2010/jul/19/observers-…
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Comment posted July 29, 2010 @ 9:38 pm
Alan Lane, president and CEO of Silvergate Bank in La Jolla, says there’s a good reason banks are reluctant to approve the standard SBA loan, which covers 75 percent of the loan amount. They’re largely unable to find collateral to cover the risk of the remaining 25 percent, which is needed if the loan payments suddenly stop for some reason.
Banks aren't approving. It's not your fault you still are a democrat. Learn to have a healthy distrust for all politicians at this point. Getting the money and giving the money are two entirely different things. Peace.
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Comment posted July 30, 2010 @ 2:11 am
Afraid not. You are still stuck in the left/right paradigm I see, though. Nobody, not even you, yelled louder than me during the Bush years. You sir, are a horse's ass trapped in the bafoonery of believing that there is still a viable party. Grow up, you intellectual ineffectual.
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Comment posted July 30, 2010 @ 3:11 am
The stimulus funds may not cover enough of the loan, but your statement was that the SBA is not included in the stimulus. That's just wrong, and changing the subject to how SBA works doesn't change that.
You still don't explain how the party that's trying to address the problem and the one blocking any solution are equally at fault.
Pingback posted July 30, 2010 @ 4:26 am
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Comment posted July 30, 2010 @ 3:49 am
The democrats (Gambinos) stuff pork into bills when they are in power, and the republicans (Corleones) refuse to vote for it. Vice versa when Bush was in power. They are all owned by the banks. Research lobbying, but keep in mind that the same people that could vote in limits would never do so on themselves. Power is merely a baton being passed between track mates.
Onto the TARP and stimulus and the SBA. My overall sentiment is you are wrong because you didn't get my sarcasm (intentional exaggeration), but that is not my fault. Less than 1% of funds in Tarp 1&2 went to small business. Might as well be (okay, you ready<sarcasm>) “not a dollar” when compared to the money gigantic monstrous corporations and huge mega-conglomerate banks in bed with the Fed got. The banks aren't lending the money on the SBA loans from stimulus. Most of the stimulus money that was available (a pittance) went on to infrastructure projects, and funny things like a turtle tunnel in FL (cost millions).
I have no more time to argue with you and your illusion of a party-line. Sorry for your lack of ability to understand.
http://columbus.bizjournals.com/columbus/storie…
http://blog.american.com/?p=3255
http://knowledge.emory.edu/article.cfm?articlei…
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[...] the Senate went on its August recess, without passing the small business bill, the unemployment extension for 99ers (which is still under consideration by the Finance Committee) [...]
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[...] President Obama pushed for the Senate to pass the Small Business Jobs and Credit Act — a modestly sized bill that might unlock as much as $300 billion in credit for small companies, which have created [...]
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[...] Republicans Filibuster Small Business Bill « The Washington Independent [...]
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[...] 2010: Republicans filibuster Small Business Bill which would create [...]
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[...] is small beer, however, compared to the Small Business Jobs and Credit Act, which would create a $30 billion fund to be used to encourage small banks to lend to small businesses. Combined with standard bank [...]
Pingback posted August 19, 2010 @ 10:18 pm
[...] is small beer, however, compared to the Small Business Jobs and Credit Act, which would create a $30 billion fund to be used to encourage small banks to lend to small businesses. Combined with standard bank [...]
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[...] Bill to Aid Small Businesses Suffers SetbackWall Street JournalWashington Post -The Washington Independent -Bloombergall 3,269 news [...]
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[...] Fat chance. Extending unemployment benefits? Try again. Adding new jobs in a small business bill? Not on your life. In a country suffering from high unemployment, the GOP sure seems intent on keeping people in the [...]
Pingback posted September 10, 2010 @ 8:43 am
[...] The choice in this November’s election couldn’t be more crystal clear: the Democrats who are fighting for the middle class and working their tails off to pull America out of the Bush Recession vs the Republican turncoats who drop their friends at the first sign of a cynical divisive issue and who have fought tooth and nail against the American middle class. [...]
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[...] vote yes for the small-business bill, a deficit-neutral package of tax breaks that has been held up for months in the Senate. With Voinovich willing to cross the aisle, Democrats have the 60 votes necessary to [...]
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[...] Republicans Filibuster Small Business Bill « The Washington … [...]
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[...] Republicans Filibuster Small Business Bill « The Washington … [...]
Pingback posted November 26, 2010 @ 6:16 pm
[...] The Republicans spent this entire year obstructing, stalling, and finally filibustering a bill that … This bill would have helped small businesses create jobs, but Republicans did their best to make sure it didn’t pass even though it was a bi-partisan bill that included many of their ideas. You thought Republicans liked tax cuts? Apparently only when the President signing the bill is a Republican. The bill finally passed, but only after massive pressure and less than a handful of Republicans switched sides to finally end the filibuster. [...]
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