Bennet: Tax Relief, Improved Access to Lending Finally on Its Way to Small Businesses

After Months of Delay, Senate Approves Bipartisan Small Business Jobs Act

Washington, DC – After months of delay, the Senate today passed the Small Business Jobs Act, which will help Colorado’s small businesses and entrepreneurs access the credit they need to start up, grow, create new jobs and keep our economy on the road to recovery. Michael Bennet, U.S. Senator for Colorado, voted to approve the bill, which passed by a vote of 61-38. 

“Amid the most difficult recession since the Great Depression, I’ve heard from small business owners and entrepreneurs across the state who have been struggling to stay afloat, let alone grow and hire workers, because they lack access to credit,” Bennet said. “Finally, after months of needless delays, the Small Business Jobs Act got a vote, and we are closer to getting the flywheel spinning again so that small businesses have the tools that they need to grow, create jobs and help our economy recover.”

The Small Business Jobs Act provides substantial tax relief for small businesses and improves SBA lending programs, including provisions that Bennet has backed.  This bipartisan bill also calls for the creation of a $30 billion lending facility for community banks to expand lending to small businesses struggling to obtain loans as credit markets have dried up.