For several days now, Senate Republicans have
ridiculed Democrats for prioritizing campaign finance legislation over a bill
that would benefit small businesses, arguing that Majority Leader Harry Reid
(D-Nev.) was putting electoral advantages over jobs for everyday people.
On Tuesday, the DISCLOSE Act failed to get the
needed votes for cloture, in the process providing the Senate the time needed
to move on to other business. But when the democratic leadership brought a revised version of
the small business bill to the floor on Thursday morning, they were met with
united Republican opposition.
Despite complaining about the delay in
consideration, Republicans filibustered the measure by a vote of 58 (in favor
of cloture) to 42 (against).
There are fairly substantive bipartisan components
to the legislation, which would eliminate capital gains taxes for investment in
small firms, create a Small Business Lending Fund to underwrite loan through
community banks and create a credit initiative for small business to help meet
state budget shortfalls. Reid, moreover, has offered the chance to consider
several GOP amendments already, and could well open the window for more.
The drama, which seems likely to extend throughout
the day, is not only a reflection of just how ground-down the procedural
elements of the Senate have become. It also shows how difficult it has been for
Democrats to push forward on economic recovery -- which, in concept, has
bipartisan support but always seems to come up a bit short when it comes to a
roll call.
"Eighty-one percent of the jobs lost in America
are from small business," said Sen. Mary Landrieu (D-La.). "So when
the other side complains and complains and just flaps and flaps all day long
about it's a jobless recovery, we put a bill on the floor to creates jobs for
small business and they say no... They can color it, paint it any way they
want, that's what it was."
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