Budget Resolution Includes Small Biz Bump-Up
The Senate on Wednesday passed a budget for the fiscal year that starts Oct. 1 that includes an increase in funding for some small business programs.
The Senate voted 48-45 for the nonbinding $3 trillion fiscal 2009 budget that outlines spending priorities. The House is expected to pass the measure this week.
The measure adds $101 million to the president's request for the Small Business Administration budget for 2009. Additional monies would be targeted for Small Business Development Centers, Women's Business Centers, veterans' programs, microloans and technical assistance programs, among other things.
"We're working to create jobs and steer our economy out of this slowdown," said Sen. John Kerry (D-Mass.), who heads the Senate's Small Business and Entrepreneurship Committee. "The best way to do that is by investing in small businesses, which create more than two-thirds of all jobs and employ over half of our workforce...This budget shows our commitment to expanding the reach of small business financing programs, increasing the number of small businesses that can get business training, and unbundling contracts so small firms have a fair shot at doing business with the federal government."
The Senate committee Web site includes a breakdown of the programs and monies for small business.
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