Small business bill passes, disaster aid, summer jobs programs in limbo

The Senate approved late Thursday a bill (H.R. 4938) that provides up to $40 million for a one-month extension of a small business loan program while putting on hold $5.1 billion in disaster aid and $600 million for the continuation of summer jobs programs. 

The loan program extension, which was originally part of the House-passed $5.7 billion version (H.R. 4899), was passed separately under suspension of the rules by the House. The program, which is part of the stimulus bill, reduces and eliminates fees on loans through the Small Business Administration and is paid for by shifting funding from other programs. In addition, the bill guarantees 90 percent of the loans. The measure extends the program to April 30. 

But unless Senate Democrats and Republicans can agree, emergency spending legislation that includes $5.1 billion for the Federal Emergency Management Agency to help states recover from heavy snow and flooding this winter as well as funding for spring-storm preparations isn't likely to get through the chamber anytime soon, according to a senior Democratic aide. 

Also stalled is $600 million to extend summer jobs programs to help those ages 16 to 24, supporting about 300,000 jobs. The House provided ways to pay for the jobs program, using stimulus funds from other programs.