US House Backs $30 Billion Small Business Lending Fund
By Martin Vaughan
DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The U.S. House approved legislation Thursday to create a $30 billion fund to boost lending to small businesses through community banks. The vote was 241-182.
The bill will now be combined with a $3.5 billion package of tax cuts directed at small businesses, which the House passed earlier this week and sent to the Senate for approval.
"This bill will increase credit to small businesses and get them back on their feet, and help them continue to add jobs," Rep. Ed Perlmutter (D., Colo.) said during House floor debate.
