Republicans in the Senate put their crony and political interests ahead of that of the American people once again on Thursday - by voting in unison to block a small business jobs bill. Despite a plea from the President (or perhaps because of it, we'll never know) to put partisanship aside and help small businesses, here's what the Republicans blocked:
- A one-year, $30 billion loan program (through purchase of financial institution common stock and other methods) for community banks and credit unions when they make loans to small businesses. If the treasury makes money from this program (through repayment of the loans), it would go to pay down the debt.
- $12 billion in additional tax breaks tax cuts to help small business.