MBL Hike/Jobs Legislation on Back Burner in Senate Again
A Supreme Court nomination and energy legislation are taking center stage in the Senate this week, thus putting a job creation bill on the back burner.
The jobs creation bill-which suffered setbacks last week after partisan procedural wrangling-hasn't been mentioned by Senate leaders as something likely to come up before that chamber breaks for recess at the end of this week. CUNA, NAFCU, and the NCUA have been pushing to add an amendment to the bill to raise the cap on member business loans from 12.25% of assets to 27.5% of assets. Even though both the administration and Sen. Majority Leader Harry Reid (D-Nev.) have expressed support for the amendment, which is sponsored by Sen. Mark Udall (D-Colo.) it hasn't made it on the list of amendments that would be considered if the bill comes up again for debate.
The House already passed a jobs creation bill, which includes a $30 billion fund that community banks can access to use for business lending.