Republicans block small business lending bill

[babsbunny]

http://news.yahoo.com/s/ap/20100729/ap_on_bi_ge/us_small_business_lending_11

By STEPHEN OHLEMACHER, Associated Press Writer Stephen Ohlemacher, Associated Press Writer – Thu Jul 29, 12:12 pm ET

WASHINGTON – Senate Republicans have blocked a bill to increase small business lending, dealing a setback to President Barack Obama's jobs agenda.

The bill would have created a $30 billion government fund to help community banks increase lending to small businesses, combining it with about $12 billion in tax breaks aimed at small businesses. Some Republicans, however, likened it to the unpopular bailout of the financial industry.

Democrats and Republicans will continue to negotiate amendments to the bill. But Thursday's vote will make it difficult for Congress to pass the bill before lawmakers go on their summer vacation.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

[randr]

1. Do the Repugs constantly whine about small businesses needing breaks?

Friggin hypocrits!

[CrownPrinceBandar]

2. They're not getting what THEY want, so they're blocking it........

from the link:

"GOP amendments included measures to beef up border security, impose a government spending cap and lower the estate tax, which is scheduled to return next year with a top rate of 55 percent on estates larger than $1 million." (emphasis mine)

Wotta bunch of babies.

[Blue Owl]

3. Anytime the middle class gets a little action

There's the GOP cockblock, right on schedule.

[BadgerKid]

4. How about biz. tax credits for hiring workers?

Basically, this would divert would-be tax money to employees, who would then pay some of that income as taxes on wages and spending.

OK, where's the obvious flaw (other than the one where GOPers want the tax cuts in their pockets)?