Republicans Block Small Business Lending Bill - Spokane, North Idaho News & Weather KHQ.com

Republicans Block Small Business Lending Bill

WASHINGTON (AP) - 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.
      
      (Copyright 2010 by The Associated Press.  All Rights Reserved.)
    

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