Senate Passes Small Business Aid Bill

The Senate on Thursday passed a bill aimed at giving small businesses
easier access to credit as well as targeted tax breaks.

The legislation creates a $30 billion small-business lending fund and allocates
$12 billion in tax cuts to encourage companies to invest and hire.

The government’s definition of a small business typically means
businesses with less than 500 workers or $7 million in annual revenue, Reuters reported.

The bill passed by a 61-38 vote, with two Republicans joining the
Democratic majority. The House has already approved a similar measure.