This Washington
$30 Billion Small Biz Lending Bill Overcomes GOP Filibuster
President Obama's (election season) bill to get $30 billion in loans to small businesses won enough votes (with two Republicans on board) this afternoon to get past a GOP filibuster. The cloture vote was 61-37 with U.S. Sen. George V. Voinovich of Ohio and U.S. Sen. George LeMieux of Florida voting with the Democrats.
Sen. Patty Murray made a big deal about the bill while she was in Washington state campaigning this summer, and in fact, hyped it just last week when she debated her GOP opponent Dino Rossi (who's against the bill) in front of the Seattle Times editorial board.
"Maybe he [Rossi] needs to talk to some more small businesses," Murray campaign spokeswoman Julie Edwards told PubliCola after the vote, referring to Sen. Voinovich's comments in the Washington Post:
Rossi, who says he's met with plenty of small businesses, calls the bill "Baby Tarp," referring to the $700 billion big bank bailouts, and explained to the Seattle Times [go to the 16 minute mark]: "Well, you have one bad bill and now you have to have another to bail out the last bad bill. You shouln't have done the first bad bill in the first place. ... Most community banks will do fine ... if you let them do it. The second bill was becuase of the first bad bill. You shouldn't have one bad bill bailing out another."
Sen. Patty Murray made a big deal about the bill while she was in Washington state campaigning this summer, and in fact, hyped it just last week when she debated her GOP opponent Dino Rossi (who's against the bill) in front of the Seattle Times editorial board.
"Maybe he [Rossi] needs to talk to some more small businesses," Murray campaign spokeswoman Julie Edwards told PubliCola after the vote, referring to Sen. Voinovich's comments in the Washington Post:
“The package of tax breaks and other incentives includes a new loan fund that would encourage community banks to provide up to $30 billion to small businesses, improving access to credit - a problem hurting businesses owners in Ohio, Voinovich said. He cited the case of a constituent who was turned down for a loan by 42 banks. ‘I happen to believe these small-business people can't get money to save their souls,’ he said.”
Rossi, who says he's met with plenty of small businesses, calls the bill "Baby Tarp," referring to the $700 billion big bank bailouts, and explained to the Seattle Times [go to the 16 minute mark]: "Well, you have one bad bill and now you have to have another to bail out the last bad bill. You shouln't have done the first bad bill in the first place. ... Most community banks will do fine ... if you let them do it. The second bill was becuase of the first bad bill. You shouldn't have one bad bill bailing out another."
