Small Business Lending Fund and State Small Business Credit Initiative Blocked

TradingMarkets.com reported on the vote over the Small Business Lending Fund and State Small Business Credit Initiative today. Republicans blocked the small business bill with a 58-42 vote this morning.

The bill was intended to create the Small Business Lending Fund, which would set aside $30 billion to help local community banks get the capital they need to lend money to small businesses. In addition, the bill would help support small business initiatives run by states across the country that are struggling due to local budget cutbacks.

Click here to read the speech US Senator Patty Murray gave shortly before the vote.

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