In Congress, passing common-sense legislation can seem like a battle between David and Goliath. In this case, Goliath is deep-pocketed special interest groups that use their influence to block bills before they can get a vote. David is Colorado small businesses that just need more loan options so they can create jobs.
Passing my Small Business Lending Enhancement Act is a no-brainer. My bill is projected to allow small businesses to create more than 100,000 jobs in the first year alone. But despite repeated efforts over the past few years to get it passed, special interests and their allies in the Senate have managed to block it at every turn -- resorting to procedural tricks to keep my bill from receiving the up-or-down vote it deserves.
But last week our persistence paid off when Senate Majority Leader Harry Reid promised to bring my bill to a vote on the Senate floor. Click here to watch the video and sign your name in support of small-business jobs.
Colorado small businesses are starving for credit, yet an unnecessary federal regulation is standing in the way, limiting the options available for small-business loans. My bipartisan bill would increase access to capital for small businesses by responsibly lifting the cap on credit union lending, allowing them to loan money to businesses that want to expand and create jobs, all without costing taxpayers a dime.
Help me defeat Goliath and bring some Colorado common sense to Washington, one signature at a time. Add your name to my petition to help convince my Senate colleagues that supporting small-business jobs is the right thing to do.
Small businesses play a critically important role in creating jobs and growing the American economy. For the past 15 years, small businesses have created two-thirds of all new jobs, but the recession has cut off a lot of their access to capital. As it is, many small-business owners have been forced to resort to credit cards with comparatively high interest rates in order to invest in equipment to grow their businesses or to hire more people.
By simply lifting this burdensome federal regulation, credit unions will be in a position to provide small businesses with the small, low-interest loans they need to create new jobs.
We can't let special interests and their allies in the Senate put their self-interest ahead of our national interest. Please sign my petition.
Follow Sen. Mark Udall on Twitter: www.twitter.com/MarkUdall