Congresswoman Mazie K. Hirono (D-Hawaii) today voted in favor of legislation that will provide $32 billion in funds for community banks and innovative state lending programs, allowing small businesses to leverage up to $300 billion in loans. The Small Business Jobs and Credit Act, H.R. 5297, expands much-needed lending to small businesses and offers tax incentives to help America's small businesses grow. H.R. 5297 is fully paid for and will save taxpayers $1 billion over the next decade. The U.S. House passed the bill by a vote of 241 yeas to 182 nays.
"Earlier this month, I met with owners of Hawaii high tech companies, renewable energy firms, and roofing and construction companies. This bill will help small businesses access the capital they need to increase innovation and create more jobs," said Congresswoman Hirono. "The Small Business Jobs and Credit Act will help our local small businesses expand and encourage our banks to lend to them."