UPDATE: Politics rears its head, small business loses.
Republicans block small business lending bill
The National Small Business Association’s mid-year economic report doesn’t offer much encouragement to those looking for reasons to be optimistic about the economy.
But the report offers the best argument yet for passage of the $30 billion small business lending program being considered by the Senate.
Passage looked pretty dicey earlier this week, but a bill that would increase lending to small businesses cleared the filibuster hurdle late Thursday.
Two Republicans joined the Democrats in a 60-37 vote.
Tennessee Senators Lamar Alexander and Bob Corker voted against the bill. I doubt if they will support the bill when it comes up for a final vote, but they should.
Although the bill is imperfect, it would provide $30 billion in desperately needed capital to small businesses.