By Vanessa Dabovich
Las Cruces, NM – THE SMALL BUSINESS JOBS BILL IS INTENDED TO PROMOTE JOB CREATION THROUGH A COMBINATION OF TAX CREDITS, IMPROVEMENT IN THE ABILITY OF THE SMALL BUSINESS ADMINISTRATION TO UNDERWRITE LENDING TO SMALL BUSINESSES AND ADDITIONAL SUPPORT FOR COUNSELING AND CONTRACTING PROGRAMS.
THE LEGISLATION WOULD ALSO DEVELOP A NEW COMMUNITY BANK LENDING FACILITY WHICH WILL PROVIDE FUNDS TO HEALTHY COMMUNITY BANKS. IT WOULD REQUIRE THOSE BANKS TO MAKE THAT CAPITAL AVAILABLE TO SMALL BUSINESS AND THE GOVERNMENT WOULD BE REIMBURSED.
SENATOR BINGAMAN SAYS WITH OVER ONE HUNDRED FIFTY-EIGHT THOUSAND SMALL BUSINESSES IN THE STATE THIS LEGISLATION IS CRUCIAL.
Bingaman-"I think it's a very good piece of legislation, it's not a cure all for our economic problems by any means, but it certainly is a step in the right direction and something we have been trying to pass now for quite a while."
BINGAMAN ALSO SAYS HE HEARS OFTEN FROM SMALL BUSINESS OWNERS IN NEW MEXICO THAT SAY THEY DON'T HAVE THE ABILITY TO BORROW FUNDS THAT ARE NEEDED.
THE SENATE VOTED ON TUESDAY TO CLOSE DEBATE AND MOVE ONTO CONSIDERATION FOR THE BILL. BINGAMAN SAYS HE IS OPTIMISTIC THE BILL WILL BE PASSED THIS WEEK.