News

The 29^th of July spelled trouble for legislation that will extend aid to small businesses throughout the nation. Senate Republicans rejected a bill to aid small businesses with an expanded loan program and tax breaks. The bill centers on a $30 billion dollar lending program, advocated by the Treasury Department, and administrated through local banks. It provides incentives for lending, and does not, in actuality, speak to a bailout for small business; however, the cost of the bill is still a central issue. The bill also provides more than $12 billion dollars in tax breaks, and would expand existing lending programs.

While Republicans are weary of the bailout-like affect of the bill, some have pledged support; the bill had the backing of the Republican Party's most reliable business allies, which include the United States Chamber of Commerce and the National Federation of Independent Business. Several other Republican lawmakers aided support in the writing of the bill.

The day however was gloomier than expected, with Republican leaders filibustered after debating with Democrats over proposed amendments to the bill; Democrats however turned to a few final efforts to pass parts of the bill. Nevertheless, Senator Mitch McConnell of Kentucky irrevocably shot down the last attempts.

 

 

Votes Fall Short

Sixty votes were needed to advance the legislation, however, the vote fell two votes short of that, at 58 to 42. Democrats unilaterally agreed, while Republicans ubiquitously disagreed; setting the stage for a battle between parties.

Uneasiness Remains, Debate Continues

Following the vote, outcries were heard from both sides; the overall mood on the Senate floor was uneasy at best. Senator Olympia J. Snowe of Maine, the senior Republican on the small-business committee asserted, "That is the tradition in the United States Senate: majority rules, but you accommodate the rights of the minority." Feeling stifled by Democratic majority, her comments revealed the fact that Republicans felt slighted and unheard in the matter, which is a possible outcome of partisan politics.

Snowe felt that Democratic waffling had damaged the bills' passage by stating, "We need to create jobs in America," and "This bill has been on the floor for three weeks and three substitutes - 81 days."

Mary L. Landrieu, a champion of the bill and Democrat of Louisiana, responded to the backlash by criticizing Mr. McConnell for his blocking efforts, "Our businesses have picked up enough weight; they can't handle that weight," "And if we don't give them some help now, today, many of them aren't going to be here."

The Future

The future of the legislation is sketchy at best, considering fall recess is coming up shortly, from August 9^th to September 12^th the Senate and House will have recess, and they will reconvene on September 13^th. When that happens, the legislation will go back to the Senate, where it is asserted that Republicans will have to be heard and recognized; amendments will have to be made, or a few Republican voters will have to sway their opinion for any change to happen. Overall, the outcome is undecided at this moment.

From the Horse's Mouth

However, one thing is certain. Small business owners feel that government does not recognize their needs. Recently, Vistage International Inc., a firm who is centered on CEO peer group studies and leadership coaching, surveyed the owners of small businesses. It was reported that 87% of surveyed small business owners felt that the government did not understand the predicaments of small business.

Read more: This story reported on the New York Times

About The Company, Cirrus ABS

Cirrus ABS is an award-winning Web development, marketing and Internet-based solutions company who is focused on achieving measurable results for businesses on the Web. Having recently announced the launch of their flagship small business solution, the Cirrus ABS Small Business Suite, they encourage any size of business to use their unique Web platforms, the Cirrus eBusiness Suite, or the Small Business Suite, depending on their size and scope. Both packages offer a wide-array of Web-based technology and content management.

What You Get

The Small Business Suite is centered on providing the best cost-to-solutions ratio for small businesses who seek to increase their online presence, and expand their Web marketing efforts; through our affordable small business website solutions that accentuate this.

The Cirrus ABS Small Business Suite

 

• The ability for unlimited, customizable Web pages
• Convenient Web management tools, widgets, and apps
• Thorough online marketing tools and related information
• Essential Web statistics and metrics via Google Analytics
• A steady Web foundation with support for hosting, email and domain name assistance
• An individual selection of small business website templates, which can be personalized for your company's direction
• A team of Web savvy experts who are ready to help you, with down-to-earth customer support right here in the United States; available through virtually any medium, such as phone, email, online chat, training videos, etc.

Contact Us

Contact Cirrus ABS and ask about our comprehensive Small Business Suite; let us know how we can serve your business in the best manner, on the Web.