The $42 billion Small Business Jobs Act took a step forward, clearing a key procedural hurdle in the Senate, 61-37. Republicans George Voinovich, who is retiring, and former Gov. Charlie Crist (I-FL) Chief of Staff George LeMieux voted for it, helping Democrats overcome a filibuster.
President Obama strongly supports the bill, which would provide loans and tax breaks to small businesses, and its swift enactment seems assured. ... That vote all but assured that the Senate will pass the bill later this week, and the House is expected to then put its final stamp of approval on the measure without delay.
But efforts to repeal or roll back a new tax-reporting requirement for the nation’s businesses failed on Tuesday when neither party managed to muster the 60 votes needed to advance their competing approaches to the issue.