Pelosi Statement on House Passage of Small Business Legislation

Jun 17, 2010, 15:02 ET from Office of the Speaker of the House

WASHINGTON, June 17 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement today on the House passage of H.R. 5297, the Small Business Lending Fund Act of 2010, which the House passed by a vote of 241 to 182:

"America's small business owners are the backbone of our economy.  With this legislation, we are helping to ensure they have what they need to be the engine of our recovery.

"Democrats in Congress have heard the calls from small businesses to help provide them with the tools they need to grow: access to capital and tax relief. The legislation passed by the House this week will unleash up to $300 billion in loans for small businesses; they also offer $3.5 billion in tax incentives and tax relief to small businesses.

"These bills will create and save jobs, and are fully paid for by closing tax loopholes.  They build on the accomplishments of this Congress for small businesses, including the Recovery Act, health insurance reform, and a net operating loss provision and accelerated tax write-offs.  

"Democrats will continue to work on behalf of America's Main Street, and the small businesses that will ensure our nation's economic success, while Republicans continue to stand for the interests of Wall Street and Big Banks."

SOURCE Office of the Speaker of the House