What: All Issues : Making Government Work for Everyone, Not Just the Rich or Powerful : Helping Small Business : (H.R. 5486, H.R. 5297) Legislation exempting investments in small businesses from capital gains taxes, as well as a separate bill intended to increase lending to small businesses – On the resolution setting a time limit for debate and determining which amendments could be offered to both bills. (2010 house Roll Call 359)
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(H.R. 5486, H.R. 5297) Legislation exempting investments in small businesses from capital gains taxes, as well as a separate bill intended to increase lending to small businesses – On the resolution setting a time limit for debate and determining which amendments could be offered to both bills.
house Roll Call 359     Jun 15, 2010
Progressive Position:
Yea
Progressive Result:
Win

This was a vote on a resolution setting a time limit for debate and determining which amendments could be offered to a bill exempting investments in small businesses from capital gains taxes, as well as a separate bill intended to increase lending to small businesses.

Rep. Chellie Pingree (D-ME) urged support for the resolution, as well as the underlying legislation: “These bills will provide much needed support for the small businesses that make up our communities and are the backbone of our economy and our economic recovery. These bills will help small entrepreneurs grow and create jobs…. Today, we can assist the small lenders who know firsthand the difference those businesses make to a community. Today, we can make it easier for companies to get access to the financing that will help them grow, expand, and create jobs.”

Rep. Virginia Foxx (R-NC) urged members to oppose the resolution and the underlying bills: “…It's unfortunate that I, again, find myself before this body amazed by the stunning arrogance of the liberal Democrats responsible for bringing this rule [the “rule” refers to the resolution setting a time limit for debate and determining which amendments could be offered to the bills] before us today….We all know that many small businesses have not been able to get available credit. However, the Democrat response is, unfortunately, too predictable: Borrow more money from foreign lenders in future generations and spend it on yet another in a long string of bailouts; create a lot of federal government jobs; and do nothing to really help small businesses.”

The House agreed to the resolution setting a time limit for debate and determining which amendments could be offered to two small business bills by a vote of 228-186. 228 Democrats voted “yea.” All 166 Republicans present and 20 Democrats voted “nay.” As a result, the House proceeded to formal floor debate on a bill exempting investments in small businesses from capital gains taxes, as well as a separate bill intended to increase lending to small businesses.

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