Senate votes to move forward on $30B loan fund for small businesses

After a lengthy debate Thursday, the Senate voted 60-37 to end debate on an amendment that would create a $30 billion fund for community banks to lend to small businesses. 

Sens. Mary LandrieuMary LandrieuMedicaid rollback looms for GOP senators in 2020 Five unanswered questions after Trump's upset victory Pavlich: O’Keefe a true journalist MORE (D-La.) and Jeff MerkleyJeff MerkleyOvernight Energy: Trump set to sign offshore drilling order Sanders: Trump couldn't be 'more wrong' on climate Overnight Energy: Trump orders review of national monuments, claiming ‘egregious abuse’ MORE (D-Ore.) spent the better part of the day explaining why their amendment shouldn't be considered another government bailout and would help struggling small businesses.

Their argument convinced two Republicans -- Sens. George LeMieux of Florida and George Voinovich (Ohio). LeMieux said the measure would provide small businesses in his state with the credit they need to create jobs. 

The Senate will take up the amendment and the bill again next week with votes planned for Tuesday.