The Colorado Independent: Bennet decries GOP opposition to Small Business Jobs Act

DENVER–Speaking Thursday at a small dog-grooming shop, Sen. Michael Bennet said small businesses weathering the recession needed the relief provided by greater access to loans, something he hoped to provide through the Small Business Jobs Act he said was falling victim to partisan gamesmanship.

Republican senators filibustered Bennet’s proposal late last month. The bill is designed to spur liquidity through tax breaks for business owners and investors and by bolstering the lending market for small business.

Bennet wrote the bill with a number of Republicans. Specifically, it would provide roughly $12 billion in tax benefits, raise the cap on federal small business loans and create a $30 billion lending facility that would provide funds for community banks to lend to businesses through a dividend rate incentive.

The bill failed on a party line vote. Republican said they opposed the bill because they had only been offered the opportunity to include three amendments.

“Because of Washington games about what amendments would be added and what amendments would not be added, we saw a bill that has huge bi-partisan support outside of the Senate defeated by partisanship and abuse of rules in a way that has had a huge effect on our economy,” Bennet said.

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