( – promoted by buhdydharma )
Instead of wringing our hands and exchanging insults and blame —
We should be, getting up to speed on,
How the Republicans Keep putting the Brakes on Progress!
Republicans block small business plan in Senate
Donna Smith, Reuters – Jul 29 2010
Obama has been pushing for passage of the lending measure arguing that getting more capital into the hands of independent community bankers would lead to more small business loans jacksonville fl and across the country.It is supported by independent bankers and business groups.
Since the 2008 financial crisis, small businesses have found it difficult to obtain loans that would help them expand as the economy recovers from the recession. Encouraging small business growth has proven to be difficult. However, outsourced hr solutions can help businesses focus their time on the most important tasks. There are other strategies such as promoting your business/brand in order to improve the growth and success of your business, but you also need to ensure you monitor your brand to keep this success up.
Senate Republicans blocked a $30-billion plan to help community banks boost lending to small businesses […]
Some Republicans have cast the small-business proposal as part of what they consider government overreach by the Obama administration.
Helping Small Businesses to put people back to work — that’s government overreach?
On what planet?
But would the passage of the Small Business Bill really help to fix the Economy?
Well … Are Small Businesses really the Engine of the Economy?
Small businesses hold off spending while waiting for aid
By Laura Petrecca, USA TODAY — Aug 30, 2010
Small businesses have put hiring, supply buying and real estate expansion on hold as they wait out the vote on a small-business-aid bill that stalled in the Senate earlier this summer. A small business would benefit from a small business loan without collateral.
The much-debated legislation offers tax breaks and waived loan fees. But it also comes with more divisive components, such as a $30 billion fund that would help community banks give loans to small businesses. Opponents say the fund would be a mini version of the often-criticized TARP large-bank bailout program.
Many small businesses had hoped the legislation would pass the Senate by the end of July. With two weeks left until Congress reconvenes, those firms are in a holding pattern.
“I’m still waiting for Congress to sign off on the bill,” says Amarjit Kaur, who runs a convenience store and gas station in Wood Village, Ore. She leases her property but has a chance to buy it. With the waived-fee provision, Kaur says she could save about $35,000 on her pending loan.
Kaur’s is among about 1,000 other small businesses that “have their bank papers all done and will be funded in the days – moments – after the bill passes,” says U.S. Small Business Administration Administrator Karen Mills.
So Obama wants to HELP these Small Businesses to succeed —
and the GOP wants to STOP any such Such Success.
Why does the GOP Hate Small Business?
What’s in this Bill that makes the GOP put up all their standard Road Blocks?
[… continuing from the previous report …]
What’s in the bill:
— An increase on government guarantees to as much as 90% on some of the most popular loans. That would mean a little less pressure on banks if a company defaults, because the government would insure a larger percentage of the loan, says Coleman. With current guarantees topping out at 75%, “there is a bit more exposure” for banks, he says.
— Community banks with assets of $10 billion or less would be able to tap into the $30 billion fund when making small-business loans. About 8,000 banks would be eligible.
— Small businesses would get about $18 billion in tax breaks, such as larger write-offs on capital equipment investments, and get credits for new hires.
— The SBA would be able to increase the maximum for certain loans to $5 million from $2 million.
Sounds Smart. Sounds targeted. Sounds specific.
No wonder Republicans — can’t stand it! LOL
Afterall they have a slightly different Agenda from Democrats.
They have slightly different “prosperity interests” that THEY are fighting to protect …
Republicans Filibuster Small Business Bill
Posted by PowerToThePeople — August 29, 2010
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% 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.”
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.
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.
In a nutshell, Republicans filibustered a crucial small business bill because the Dems refused to continue Bush’s irresponsible tax cuts for the top 2% income earners, which cost U.S. taxpayers about $1.5 trillion, and because the Dems didn’t agree to lowering the estate tax, which effects only the wealthiest Americans. Extending the tax cuts would cost American taxpayers 3.2 trillion in additional debt.
There’s the Nitty Gritty, that needs to be argued. trumpeted. hammered home, to the electorate.
BUT How quickly those Obstructionist Headlines fade into the distance …
Republicans BLOCK Bills that would HELP Small Businesses!
How quickly Republicans manage to avoid the Blame, that they are due …
Republicans just Keep putting the Brakes on Progress!
AND How quickly Democrats forget,
WHO we really are, and What we Represent.
Much to our “collective loss”, whenever WE forget,
DESPITE whatever the Outrage of The Moment, might, or might not, be …