GOP blocks $30 billion in aid to small business

By Reuters
Posted July 29, 2010 at 11:19 a.m.

U.S. Senate Republicans Thursday blocked a $30-billion plan to help community banks boost lending to small businesses, dealing a blow to President Barack Obama’s election-year battle to reduce unemployment.

Tempers ran high as Democratic leaders failed to muster the 60 votes needed to  pass the measure. Republicans were upset that Democrats shut them out from offering a number of amendments to the package, that also includes about $12 billion in tax breaks for small businesses.

Read more about the topics in this post: ,
 

Comments are closed.