Sen. Mark Udall (D-Colo.) reaffirmed his belief that S. 2231, the legislation he sponsored that would raise the member business lending cap to 27.5%, will come to a vote this year despite reports it has been delayed indefinitely.
“Senator Reid has promised a vote on this bill and I’m committed to making that vote happen,” Udall said. “There is a busy Senate calendar this year, as I understand Senator Schumer — a co-sponsor of the bill — was pointing out, but this will come to the floor for a vote.”
Udall added that for him, the bottom line is that S. 2231 would free up capital and allow small-business owners to create more jobs.
“That’s what we need right now,” Udall said.
Udall Deputy Press Secretary Alex McCarthy said the senator will “keep putting pressure on his colleagues and Senate leadership to bring it up.”
When asked if Udall would sponsor MBL legislation again next year should it not receive a vote in 2012, McCarthy said, “Senator Udall’s goal is to allow credit unions to help increase access to capital for small businesses as quickly as possible, so for now his focus is on this year, not the next.”