Business Services Industry
Senate passes aid for Small Businesses, contractors: Bush administration agrees to less expensive compromise.(Brief Article)
Set-Aside Alert, April, 2002
The Senate passed the long-delayed American Small Business Relief and Recovery Act March 22, after Its sponsors negotiated a less expensive compromise version with the White House.
The bill is intended to provide wider availability of loans on more lenient terms to small firms hurt by the Sept. 11 attacks and their aftermath. The Bush administration had blocked it for five months, according to Its chief sponsor, Senate Small Business Committee Chairman John Kerry (D-Mass.)
Kerry and the committee's ranking minority member, Sen. Christopher Bond (R-Mo.), agreed to scale back some of the more expensive provisions to win administration approval.
The bill would create a $50 mil lion fund to cover costs incurred by federal contractors because of...
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