WASHINGTON, D.C. – U.S. Senate Committee on Small Business and Entrepreneurship Ranking Member Olympia J. Snowe (R-Maine) today issued the following statement after voting against invoking cloture on H.R. 5297, the Small Business Jobs and Credit Act of 2010:


“I am deeply disappointed the Majority consistently played games with the amendment process over the past two-and-a-half months, filling the proverbial amendment tree and dictating to the Republicans and the American people which amendments they deemed worthy to vote on.  This runs counter to Senate rules and tradition, and it is truly regrettable, as many of the amendments offered by my colleagues could have made this bill better. 

“Moreover, I find it absolutely unconscionable that the Senate failed to agree to the Johanns amendment to repeal the 1099 form-filing mandate contained in the health reform legislation that the Democrats passed earlier this year requiring every business in America to report to the IRS on business purchases that exceed a threshold of only $600 per vendor or supplier.  This new requirement, which will end up costing small businesses, states and local government entities more than $190 billion in new administrative expenses alone and was also the top concern I heard from small business owners throughout Maine during numerous street tours during August, was imposed in the health reform law, yet has nothing to do with health insurance reform. The very last thing American businesses need during these tumultuous economic times is more intrusive and burdensome federal government regulation.  Finally, while I support many of the provisions contained in this legislation, several of which I authored in this Congress, I continue to share the concerns of many regarding both the cost and efficacy of the $30 billion Treasury Lending Fund.”