Senate vote on small-business bill expected soon

Published online: Sep 15, 2010 News Trade Only Today
Viewed 161 time(s)

The U.S. Senate voted 61-37 Tuesday to end debate on the Senate Substitute Amendment, sponsored by Sens. Max Baucus, D-Mont., Mary Landrieu, D-La., and Harry Reid, D-Nev., relating to small-business credit and tax relief, the National Marine Manufacturers Association reports.

A final Senate vote will likely occur this week, according to the NMMA.

The Senate version of the legislation, H.R. 5297, would extend the Small Business Administration Dealer Floorplan Financing Program for three years, increase SBA loan caps for dealer floorplan financing to $5 million, eliminate SBA fees and make other improvements that will enhance credit availability.

The legislation also includes more than $12 billion in small-business tax relief and a $30 billion Small Business Lending Fund.

The House of Representatives passed a version of the bill. If the Senate approves its version, the measures would need to be reconciled before the bill can go to President Barack Obama for his signature.

You May Also Be Interested In...

April 16, 2015

Breaking News

The National Marine Manufacturers Association canceled the Progressive Chicago In-Water Boat Show, which was set to take place June 11-14, and will stop producing the annual show.
April 16, 2015

West Marine announces new "Deck Out Dad" social media contest

West Marine has launched a new social media campaign called Deck Out Dad!
April 03, 2015

66 Days At Sea

We are happy to report that after being adrift at sea and lost for 66 days, Louis Jordan has been rescued 200 miles off the coast of South Carolina.
April 01, 2015

JC Manufacturing becomes JC TriToon Marine

Formerly known as JC Manufacturing, the Indiana-based pontoon manufacturer has officially changed its name to JC TriToon Marine.
Follow us on Facebook!  Follow us on Instagram!  Follow us on Twitter!  Follow us on YouTube!