LeMieux urges support for $30 billion fund to lend to small businesses

LeMieux estimated that small businesses are responsible for more than 65 percent of jobs in his state, arguing that it will provide needed capital to struggling businesses.


Most of his Republicans colleagues have opposed the $30 billion fund because they say it's similar to the Wall Street bailout. 

Sen. Bob CorkerRobert (Bob) Phillips CorkerTrump announces, endorses ambassador to Japan's Tennessee Senate bid Meet the key Senate player in GOP fight over Saudi Arabia Trump says he's 'very happy' some GOP senators have 'gone on to greener pastures' MORE (R-Tenn.) called it "the brother of TARP," today on the Senate floor. 

"With all due respect to my colleagues who spoke before, this is good for business and this doesn't run a deficit or increase taxes," LeMieux said. 

He said the amendment that would add the $30 billion fund back into the base bill cuts $2 billion in taxes out of the legislation on top of including additional tax cuts for small businesses. 

"I hope my friends look at it seriously," he said.