Washington, D.C. – Today, U.S. Sen. Mark Udall joined the Senate in passing the Small Business Jobs Act, a paid-for bill that will help small businesses create as many as 500,000 new jobs. The bill promotes entrepreneurship and helps small businesses get access to capital they need to expand through tax credits, enhancements to Small Business Administration lending, counseling and contracting programs, and the development of new community bank lending facilities. It passed by a vote of 61-38.
“Small businesses are critical to getting our country’s economy back on track, and I was proud to vote for the Small Business Jobs Act today to cut taxes, and help create half a million new jobs,” Senator Udall said. “As I’ve traveled across Colorado, small business owners have told me they are poised to grow, they just need access to capital so they can expand and hire new workers. This legislation will help turn that around without costing taxpayers a dime.”
“This bill was a victim of partisan delays and obstruction for far too long,” Senator Udall added. “I want to thank the two Republican Senators who crossed the aisle today to do what’s right for the economy and to help us pass it.”
The Small Business Jobs Act:
· Gives small businesses $12 billion in tax cuts,
· Incentivizes and increases small business lending,
· Helps small business owners access private capital to finance an expansion and hire new workers,
· Rewards entrepreneurs for investing in new small businesses, and
· Helps Main Street businesses compete with large corporations.
Senator Udall also offered an amendment that was not included in the bill to expand the ability for credit unions to lend to small businesses. Credit unions are restricted from lending more than 12.25 percent of their total assets. While the amendment did not receive a vote, Senator Udall will continue to push for its passage as a stand-alone bill or an amendment to another piece of legislation.
“I’ve visited with small business owners in Colorado who have been able to successfully expand thanks to help from their local credit unions, and I believe we ought to lift that arbitrary cap on credit union lending,” Senator Udall said. “Experts say our amendment would create more than 100,000 jobs within its first year after enactment, at no cost to taxpayers, and I’m going to continue to fight for it.”
Prairie Gateway re-branded to Victory Crossing {Commerce City}
Commerce City "We need to be sure that we are not left behind in ED..."
Will we ever see Development @ the Prairie Gateway site in Commerce City, CO??? It has been years since the Commerce City Civic Center and Rapids stadium have been built and still no economic development. I guess patience is really a virtue.
