Struggling East Tennessee businesses should send Ohio Republican Sen. George Voinovich a thank-you note for providing the crucial 60th vote for a bill that will deliver $30 billion in credit and $12 billion in tax breaks to small businesses.
And while they’re at it, business owners should send lumps of coal to Tennessee senators Lamar Alexander and Bob Corker. The Tennessee Republicans have toed the party line and helped hold the much-need bill hostage to filibuster.
Sadly, it’s taken too long to get this bill in position to pass. Many small businesses have suffered in recent months while the bill was held up by political posturing. Republicans have fought hard to deny the Democrats a victory instead of swallowing their party pride and doing what’s right for the country.
It’s interesting that Voinovich switched his vote after he decided to retire and no longer needed the support of the Republican Party.
Republicans generally consider themselves a friend of business, but in this case the GOP has let business down by delaying passage of the bill.
Once the president signs the bill, the pressure switches to community banks to actually loan the $30B included in the bill to small biz.
Here’s what some others have to say on the issue.
Fox Business News video: Small Biz bill too little, too late
The Huffington Post: George Voinovich and the Republican Stampede
Business Insider: Here’s What’s Actually in the Small Business Bill