U.S. Chamber Small Business Members Urge Senate Passage of Financial Rescue Bill | U.S. Chamber of Commerce

U.S. Chamber Small Business Members Urge Senate Passage of Financial Rescue Bill

Tuesday, September 30, 2008 - 8:00pm

WASHINGTON, D.C.—The U.S. Chamber's small business members raised their voices today calling on the Senate to pass the financial rescue bill, which will stabilize our financial system and ensure their businesses have continued access to credit.

"The credit crunch on small business is not new—just getting worse," said U.S. Chamber member Vanessa Baugh of Vanessa Fine Jewelry in Lakewood Ranch, Florida. "I have had my line of credit reduced to the point where I have no cash influx in my business. No cash influx has made it nearly impossible to buy inventory to get ready for the Christmas season. For the first time in my 10 years in business, I am wondering if we will have to close or file for bankruptcy. We must have some sort of regulation to get credit out there again. We have already reduced staff hours and my husband and I work six days a week to try to keep our costs down. We need help now!"

The Chamber is utilizing every communication, grassroots and lobbying asset in its arsenal to pass a bipartisan bill to stabilize the financial markets. It is reaching out to thousands of members in its grassroots advocacy network, is key voting the rescue legislation, is engaging thousands of small business members, is running radio and print ads, and is responding to hundreds of television and print media requests.

In the Chamber's key vote letter sent to every member of the U.S. Senate today, Bruce Josten, Chamber executive vice president, said, "Approving this legislation is vital to preventing catastrophic disruption in our financial markets and a steep and prolonged decline in the economy. Failure to approve this legislation will wreak intolerable hardship on average Americans."

The Chamber also praised Majority Leader Harry Reid, Minority Leader Mitch McConnell, Christopher Dodd, Judd Gregg and their Senate colleagues for their support of this important legislation to help stem the financial panic.

The key vote letter to the Senate can be found at: http://www.uschamber.com/issues/letters/2008/081001financialmarkets.htm

To read more about what the Chamber's small business members are saying, visit: www.chamberpost.com/2008/10/credit-tales-fr.html

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

# # #