Small Businesses to Senators: Pass Jobs Act Now

America's 28 million small businesses have been hit especially hard during this deep recession. H.R. 5297, the bipartisan Small Business Jobs Act, would do more to support them than any bill has in years. We're disappointed the Senate failed to pass it when it had the chance on Thursday, especially considering the broad support it has from local, state and national business groups. But we're hopeful that senators will focus on our struggling entrepreneurs rather than political gamesmanship, and, over the next couple of days, pass this crucial bill.

The Small Business Jobs Act addresses several fundamental problems facing small businesses, a lack of access to loans and a heavy tax burden. Big banks are still not lending to small businesses, which is one of the main reasons small businesses have been unable to put some of the 15 million unemployed Americans back to work.

There are a number of wide-ranging provisions in the bill that would help small businesses, including:

• Expanded and enhanced SBA loan programs
• An expansion of community bank lending for small businesses
• $12 billion in tax cuts
• Tax equity for the 22 million self-employed to help them afford health insurance
• Export promotion support for small businesses
• Business expansion incentives

Only when we get small businesses back to business will we truly jumpstart our economy and fortify our financial future. We're counting on the Senate to do what's right for small businesses and pass this bill now.