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Small Business Lending Act to Become Law

Press Release

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Location: Washington, DC

Bill includes Sen. LeMieux provisions helping small business and fraud prevention

U.S. Senator George LeMieux (R-FL) today commended the U.S. House of Representatives for approving the Small Business Lending act. The bill, which he helped write, has already been approved by the Senate and will now go to the White House for the President's signature.

"The number one concern I hear from small business owners is the lack of available credit. This bill will help free up credit so small-business owners can grow their operations, hire more workers, and help improve our economy," said LeMieux. "I have visited with small-business owners all across Florida, and they tell me they cannot grow and create more jobs because banks are not making the loans they traditionally make. Small business is the backbone of our economy, creating two out of every three jobs in our country. They need tax relief; they need access to capital. This bill will help achieve those goals, and will not raise taxes or add to the national debt."

Included in the bill is the Export Promotion act, which Senator LeMieux co-authored with Senator Amy Klobuchar (D-MN). The Export Promotion provision would increase the activities and staffing of the Department of Commerce in carrying out its mission to promote U.S. exports. It would also increase the export grants funds available to industry associations and non-profit institutions.

"Access to broader markets has helped a great number of businesses weather the current recession. States like Florida greatly benefit from a vibrant export market. The return on export promotion is well worth the investment," said LeMieux.

Also included in the bill is Senator LeMieux's Medicare anti-fraud initiative. The law will implement predictive modeling as part of Medicare at the Department of Health and Human Services. It is estimated predictive modeling could save the government more than $20 billion a year.

"Our health care system is rife with fraud, costing as much as $250 billion a year. We need to use up-to-date technologies to stop improper payments. Putting predictive modeling in place will save taxpayers money and make Medicare a better program," said LeMieux. "Unfortunately, Florida is ground zero for health care fraud and I am hopeful this program will help."

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