[Congressional Record Volume 156, Number 108 (Wednesday, July 21, 2010)]
[Senate]
[Pages S6072-S6073]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                SMALL BUSINESS LENDING FUND ACT OF 2010

  The PRESIDING OFFICER. The clerk will report the pending business.
  The legislative clerk read as follows:

       A bill, H.R. 5297, to create the Small Business Lending 
     Fund Program to direct the Secretary of the Treasury to make 
     capital investments in eligible institutions in order to 
     increase the availability of credit for small businesses, to 
     amend the Internal Revenue Code of 1986 to provide tax 
     incentives for small business job creation, and for other 
     purposes.

  Mr. REID. Mr. President, I ask unanimous consent that all pending 
amendments and the motion to commit be withdrawn.
  The PRESIDING OFFICER. Without objection, it is so ordered.


                           Amendment No. 4499

  Mr. REID. I have a substitute amendment at the desk. I ask that it be 
considered.
  The PRESIDING OFFICER. The clerk will report.
  The assistant legislative clerk read as follows:

       The Senator from Nevada [Mr. Reid], for Mr. Baucus, 
     proposes an amendment numbered 4499.

  Mr. REID. I ask that the reading of the amendment be waived.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  (The text of the amendment is printed in today's Record under ``Text 
of Amendments.'')
  Mr. REID. I ask for the yeas and nays.
  The PRESIDING OFFICER. Is there a sufficient second?
  There is a sufficient second.
  The yeas and nays were ordered.


                Amendment No. 4500 to Amendment No. 4599

(Purpose: To establish the Small Business Lending Fund Program, and for 
                            other purposes)

  Mr. REID. I now call up the Landrieu-LeMieux perfecting amendment.
  The assistant legislative clerk read as follows:

       The Senator from Nevada [Mr. Reid], for Ms. Landrieu, Mr. 
     Merkley, Mrs. Boxer, Ms. Cantwell, Ms. Klobuchar, and Mrs. 
     Murray, proposes an amendment numbered 4500 to amendment No. 
     4599.

  Mr. REID. I ask that reading of the amendment be dispensed with.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  (The text of the amendment is printed in today's Record under ``Text 
of Amendments.'')
  Mr. REID. Mr. President, I ask for the yeas and nays.
  The PRESIDING OFFICER. Is there a sufficient second?
  There is a sufficient second.
  The yeas and nays were ordered.


                Amendment No. 4501 to Amendment No. 4500

  Mr. REID. I do have a second-degree amendment at the desk.
  The PRESIDING OFFICER. The clerk will report.

[[Page S6073]]

  The assistant legislative clerk read as follows:

       The Senator from Nevada [Mr. Reid], proposes an amendment 
     numbered 4501 to amendment No. 4500.

  Mr. REID. I ask that reading of the amendment be dispensed with.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment is as follows:

       At the end of the amendment, insert the following:
       The provisions of this Act shall become effective 10 days 
     after enactment.


                           Amendment No. 4502

  Mr. REID. I have an amendment at the desk to the language proposed to 
be stricken.
  The PRESIDING OFFICER. The clerk will report.
  The assistant legislative clerk read as follows:

       The Senator from Nevada [Mr. Reid] proposes an amendment, 
     No. 4502, to the language proposed to be stricken by 
     amendment No. 4499.

  Mr. REID. I ask that the reading of the amendment be waived.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment is as follows:

       At the end of the language proposed to be stricken, insert 
     the following:
       This section shall become effective 5 days after enactment.

  Mr. REID. I ask for the yeas and nays.
  The PRESIDING OFFICER. Is there a sufficient second?
  There is a sufficient second.
  The yeas and nays were ordered.


                Amendment No. 4503 to Amendment No. 4502

  Mr. REID. I now have a second-degree amendment at the desk.
  The PRESIDING OFFICER. The clerk will report.
  The assistant legislative clerk read as follows:

       The Senator from Nevada [Mr. Reid] proposes an amendment 
     numbered 4503 to amendment No. 4502.

  Mr. REID. I ask that further reading of the amendment be dispensed 
with.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment is as follows:

       In the amendment, strike ``5'' and insert ``4''.

                            Cloture Motions

  Mr. REID. Mr. President, I have three cloture motions at the desk. I 
ask that they be stated.
  The PRESIDING OFFICER. The cloture motions having been presented 
under rule XXII, the Chair directs the clerk to read the motions.
  The assistant legislative clerk read as follows:

                             Cloture Motion

       We, the undersigned Senators, in accordance with the 
     provisions of rule XXII of the Standing Rules of the Senate, 
     hereby move to bring to a close debate on the LeMieux-
     Landrieu et al. amendment No. 4500 to the Reid-Baucus 
     substitute amendment No. 4499 to H.R. 5297, the Small 
     Business Lending Fund Act of 2010.
         Harry Reid, Mary L. Landrieu, Sheldon Whitehouse, Byron 
           L. Dorgan, Roland W. Burris, Richard J. Durbin, John D. 
           Rockefeller, IV, Robert Menendez, Carl Levin, Daniel K. 
           Akaka, Debbie Stabenow, Patty Murray, Jack Reed, Maria 
           Cantwell, Dianne Feinstein, Daniel K. Inouye, Bernard 
           Sanders.

                             Cloture Motion

       We, the undersigned Senators, in accordance with the 
     provisions of rule XXII of the Standing Rules of the Senate, 
     hereby move to bring to a close debate on the Reid-Baucus 
     substitute amendment No. 4499 to H.R. 5297, the Small 
     Business Lending Fund Act of 2010.
         Harry Reid, Max Baucus, Mary L. Landrieu, Tom Harkin, 
           Christopher J. Dodd, Patrick J. Leahy, Bill Nelson, 
           Richard J. Durbin, Charles E. Schumer, Al Franken, 
           Patty Murray, Benjamin L. Cardin, Jack Reed, Roland W. 
           Burris, Dianne Feinstein, Mark Begich, Amy Klobuchar, 
           Byron L. Dorgan.

                             Cloture Motion

       We, the undersigned Senators, in accordance with the 
     provisions of rule XXII of the Standing Rules of the Senate, 
     hereby move to bring to a close debate on H.R. 5297, the 
     Small Business Lending Fund Act of 2010.
         Harry Reid, Max Baucus, Mary L. Landrieu, Tom Harkin, 
           Christopher J. Dodd, Patrick J. Leahy, Bill Nelson, 
           Richard J. Durbin, Charles E. Schumer, Al Franken, 
           Patty Murray, Benjamin L. Cardin, Jack Reed, Roland W. 
           Burris, Dianne Feinstein, Mark Begich, Amy Klobuchar, 
           Byron L. Dorgan.

  Mr. REID. Mr. President, there have been three cloture motions 
stated. I ask consent that the mandatory quorums be waived with respect 
to these motions.
  The PRESIDING OFFICER. Without objection, it is so ordered.


                Motion To Commit With Amendment No. 4504

  Mr. REID. Mr. President, I have a motion to commit with instructions 
at the desk. I ask that it be stated.
  The PRESIDING OFFICER. The clerk will report the motion.
  The assistant legislative clerk read as follows:

       The Senator from Nevada [Mr. Reid] moves to commit the bill 
     to the Finance Committee with instructions to report back 
     forthwith with an amendment numbered 4504.

  The amendment is as follows:

       At the end, insert the following:
       The Finance Committee is requested to study the impact of 
     changes to the system whereby small business entities are 
     provided with opportunities for access to capital.

  Mr. REID. I ask for the yeas and nays.
  The PRESIDING OFFICER. Is there a sufficient second?
  There appears to be a sufficient second.
  The yeas and nays were ordered.


                           Amendment No. 4505

  Mr. REID. Mr. President, I have an amendment to the instructions at 
the desk.
  The PRESIDING OFFICER. The clerk will report.
  The assistant legislative clerk read as follows:

       The Senator from Nevada [Mr. Reid] proposes an amendment 
     numbered 4505 to the instructions of the motion to commit.

  The amendment is as follows:

       At the end insert the following:
       ``and the economic impact on local communities served by 
     small businesses,''.

  Mr. REID. I ask for the yeas and nays.
  The PRESIDING OFFICER. Is there a sufficient second?
  There appears to be a sufficient second.
  The yeas and nays were ordered.


                Amendment No. 4506 to Amendment No. 4505

  Mr. REID. I have a second-degree amendment at the desk.
  The PRESIDING OFFICER. The clerk will report.
  The assistant legislative clerk read as follows:

       The Senator from Nevada [Mr. Reid] proposes an amendment 
     numbered 4506 to amendment No. 4505.

  The amendment is as follows:

       At the end, insert the following:
       ``and its impact on state and local governments.''

  Mr. REID. I wish to express my appreciation for everyone's patience 
to get to the point where we are. Especially, I wish to express my 
appreciation to Senator Landrieu, who has worked tirelessly since 
Friday coming up with this. I support what she is doing. I am grateful 
for all her hard work.
  I hope tomorrow we can work our way through these issues. I will tell 
everyone here that we are going to finish this small business jobs 
bill, with a little luck, in the next few days. We could do it tomorrow 
if we were able to advance the time.
  We also have the supplemental appropriations bill, which is very 
important. We got that bill from the House. It has a lot of things on 
it, every one of which I support. But in my conversations with the 
Republican leader, he believes his caucus will not support most of the 
stuff that is on there.
  So we are going to have a cloture vote on that at the earliest 
possible date. That is a message from the House. We could dispose of 
this also in the next 24 to 48 hours. So it is up to us how we work 
these out. I think we have heard enough of what we need to do in the 
next little bit. But we only have 2 or 3 weeks left after Friday. So we 
have a lot to do.

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