Just moments ago the Senate passed HR 4213, To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes -- more commonly called the 'Tax Extenders Bill' to extend jobless benefits, tax breaks... and small business programs.
The bill includes an amendment that increases the amount of funding to further extend the SBA Recovery Act provisions. As part of a technical amendment, the Senate has increased the funding to $560 miliion (in addition to the $60 million for March). The $620 million total should be sufficient to get the SBA lending industry through the end of the CALENDAR year. The bill also includes an extension of the authorization of the SBA Recovery Act provisions through 12/31/2010.
What's next? HR 4213 now goes to the House for consideration. We are hopeful that all congressional work will be completed and the bill signed into law by the March 28 expiration of the recently extended stimulus provisions.
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