Senate passes aid to small businesses; bill now goes back to House

The Senate on Thursday passed a long-stalled bill aimed at providing the nation's small businesses easier access to credit, the latest effort to create jobs and boost the struggling economy.

The 61 to 38 vote came just after noon, with two Republicans joining the Democratic majority to give President Obama a legislative victory he has been pursuing for months.

"This bill takes [the] credit crunch head on and helps small businesses access the capital they need through targeted tax cuts, robust incentives for investment and support for entrepreneurship," said Senate Finance Committee Chairman Max Baucus (D-Mont.), adding that the measure would help "get Americans back to work."

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- Posted: 2010-09-16 22:31:22

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