Last week, Senator Pat Toomey singlehandedly blocked a bipartisan bill to help small businesses by personally taking to the Senate floor to prevent it from moving forward. The legislation would reinstate an effective small business loan program that has the support of Pennsylvania economic development and small business groups, including the Northeastern Economic Development Co., a local development corporation in Moosic, PA.
In case you missed it, here’s video of Toomey blocking the bill: https://www.youtube.com/watch?edit=vd&v=D6vcXdXcbtU
“Senator Toomey’s voting record reads like a love letter to Wall Street: supporting corporate tax breaks, rolling back consumer protections and protecting corporate compensation for millionaires – but he can’t be bothered to support the small businesses that drive our economy,” said Lauren Passalacqua, DSCC National Press Secretary. “As he continues to unilaterally block a commonsense, bipartisan bill that his own constituents support, Senator Toomey has shown once again how out of touch he is with what Pennsylvanians need.”
BACKGROUND:
The Northeastern Economic Development Co. In Pennsylvania Wrote To Toomey Urging Him To Support Bipartisan CREED Act To Help PA Small Businesses. In September 2015, the executive director of the Northeastern Economic Development Co. in Pennsylvania wrote to Sen. Toomey: “On behalf of Northeastern Economic Development Co. in Pennsylvania, I write to share my enthusiasm for S. 966, the CREED Act. This bill was unanimously voted out of the Senate Committee on Small Business and Entrepreneurship in April and has been waiting to be passed by the full Senate for more than three months. The bill is bi-partisan and has zero cost. I urge you to push for quick consideration of this bill in the Senate and vote in favor it so that Pennsylvania small businesses, and small businesses everywhere, can once again have access to this valuable program.” [Congressional Record, Northeastern Economic Development Co. in Pennsylvania Letter, 11/5/15]
- Executive Director Of Pennsylvania Development Company Wrote That Pennsylvania Was One Of The States To Use The Program The Most. In September 2015, the executive director of the Northeastern Economic Development Co. in Pennsylvania wrote to Sen. Toomey: “One of the states to use this program the most was Pennsylvania—roughly $68 million in loans went to small businesses that refinanced existing loans on essential fixed assets.” [Congressional Record – Senate, Page 7799, 11/5/15]
The CREED Act Was Endorsed By The Association Of Women’s Business Centers, the National Small Business Association, the National Association of Development Companies and Women Impacting Public Policy. [National Association of Development Companies, 10/16/15]
TOOMEY VOTED TO PROTECT CORPORATE TAX BREAKS FOR OUTSOURCERS & BIG OIL COMPANIES
Toomey Voted Against Twice Against The Bring Jobs Home Act, Which Would End Tax Breaks For Outsourcing And Incentivize Companies To Bring Overseas Jobs Back To The U.S. [S. 3364, Vote 181, 7/19/12; S. 2569, Vote 249, 7/30/14]
Toomey Voted Twice Against Closing Tens Of Billions Of Dollars In Tax Loopholes For The 5 Biggest Oil Companies. [S. 940, Vote 72, 5/17/11; S. 2204, Vote 63, 3/29/12]
TOOMEY VOTED TO ROLL BACK WALL STREET REFORM
Toomey Voted For FY 2014 Ryan Budget. [S.Amdt. 433 to S.Con.Res. 8, Vote 46, 3/21/13]
- Seattle Post-Intelligencer: FY 2014 Ryan Budget Would “Roll Back 2010 Wall Street Reform Legislation.” “Ryan, chairman of the House Budget Committee, rolled out his new budget on Tuesday, a document reminiscent of his old budget that Democrats ran against in the 2012 election. It would partially privatize Medicare, slash Medicaid and food stamps by turning them into block grants, abolish the Affordable Care Act (‘Obamacare’), roll back the 2010 Wall Street reform legislation, and throw open federal lands in all places to all kinds of drilling and gouging proposed by Big Oil and Big Coal.” [Seattle Post-Intelligencer, 3/12/13]
TOOMEY VOTED TO PROTECT CORPORATE COMPENSATION FOR MILLIONAIRES
Toomey Voted Against An Amendment To Eliminate Tax Deductions For Corporate Compensation Greater Than $1 Million. [S.Amdt. 919 to S.Con.Res. 11, Vote 127, 3/27/15]
