DeGette Applauds Senate Passage of Small Business Act

(WASHINGTON, DC) - Congresswoman Diana DeGette (D-CO) today applauded Senate passage of the small business lending bill. On June 17th, DeGette joined the U.S. House when they passed similar legislation.

"I am pleased that my colleagues in the Senate have voted to extend this important aid to America's small businesses. Small businesses are the backbone of the nation's economy, and any efforts to reduce our unemployment rate and improve the economy must include protections and incentives for these important institutions. As a former small business owner, I know too well the challenges that small businesses face in the increasingly global marketplace. That is why I will continue to support bills such as this one that offer small businesses the opportunity to compete globally without sacrificing their commitment to their local communities. In these tough economic times, the bill's provisions' eliminating tax incentives for companies that ship American jobs overseas, will strengthen our economy and keep meaningful jobs here in the U.S.

"It is disappointing that small businesses across the country were denied relief while Senate Republicans tried to score political points by denying a vote on this legislation. I hope that my colleagues on the other side of the aisle do not make the same mistake as we discuss extending the Bush-era tax cuts. Holding tax cuts for 98% of Americans hostage in exchange for breaks for the wealthiest 2% would only result in adding $4 billion to the deficit over the next ten years while denying struggling, middle-class Americans the relief they need. As government works to manage our resources in these tough economic times, what is most fiscally responsible and best fulfills our duties to the American people is to help working families, not give breaks to the wealthy."