Time to Make Some Noise in Washington…
Here's an UPDATE
on what transpired yesterday regarding the JOBS Act (H.R. 3606) and the
Reed-Landrieu-Levin Amendment.
Late yesterday, cloture (motion to limit debate) failed on
the Reed-Landrieu-Levin Amendment, which included an extension for the SBA 504
Refi program. The cloture motion needed 60 votes and got only 55. This vote was
expected due to other issues related to the underlying bill, and was not a
reflection on the merits of the one-year refi extension.
What comes next is a motion to invoke cloture on the
underlying bill (the IPO bill, or H.R. 3606). This vote was supposed to happen
yesterday but was hastily postponed until sometime today at the earliest. Go to
www.504blog.com/noise-in-dc to
find out what this means and what we (you and I) can still do to help the cause
of small business owners all over the country.
Thanks again for your support and your efforts!
Dedicated to Your Continued Success,
Chris
P.S. Here’s what
we need to help the folks in Washington remember: both the 504 refi and the
FMLP program are zero-subsidy programs, meaning that their slightly higher fees
should cover future projected losses in these programs, AND they also help
create and retain small business jobs (not to mention help small business
balance sheets). Were it not for significant bureaucratic delays, these
programs would have made a much greater impact by now. It's the right and
proper thing to do to extend these programs by one year so they can assist more
small business owners...and in a subsidy-neutral and budget-neutral way. Who
can honestly be against two temporary programs that will cost taxpayers
nothing, but save and create jobs?!? Isn't it time the folks in Washington do
something for the little guys on Main Street, but in a responsible way?
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