WASHINGTON — Senate Republicans have blocked a bill to increase small-business lending. The House passed a version June 18.
The legislation was designed to provide $30 billion to small banks to boost lending to small businesses. The bill also included other provisions intended to aid small businesses, such as $11.7 billion in tax breaks for investing in new equipment or the sale of small-business stock.
WASHINGTON — The Small Business Lending Fund Act, a $30 billion proposal by President Barack Obama to spur lending to small businesses, cleared the House Financial Services Committee this week. The 42-23 party-line vote garnered no Republican support.
WASHINGTON — President Obama has proposed constructing a new government lending program using $30 billion of the remaining Troubled Asset Relief Program (TARP) funds to offer cheap capital to banks that lend to small businesses.
