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Rossi wants banks to lend, but opposes Democrats’ plan

Post by Jordan Schrader / The News Tribune on July 29, 2010 at 6:49 pm with 14 Comments »
July 29, 2010 6:49 pm

Dino Rossi often says that for small businesses to start hiring again, banks need to lend more. It’s the message he’s heard across the state and just today at a meeting with business leaders in Tacoma, he said.

Yet he opposes a bill aimed at restarting the flow of credit to small businesses. That’s because he doesn’t think government should be pulling the strings on the lending, he said.

He wasn’t the only one to oppose the measure. Republicans prevented it from moving forward in the Senate today. The legislation would have set up a $30 billion fund to invest in small, community banks.

Rossi calls it a “baby TARP.” “It’s another bailout,” he said. The federal government shouldn’t direct the economy, he said.

Small-business groups like the National Small Business Association and National Federation of Independent Businesses, which often side with Republicans, have endorsed the bill (tepidly in the NFIB’s case).

“They like the bill because they’ve been handed such a pile of rubbish with the first bill,” the new Wall Street regulations, Rossi said.

Murray’s campaign fired off a press release today saying Republicans:

may use small business owners as political props at campaign events, but when the chips were down, they did not lift a finger to actually help those business owners create jobs in our state.

Rossi said if Congress wants to help small businesses, it should be keeping taxes low and regulations fair. He said the Tacoma business leaders he met with today are paralyzed by uncertainty about what the government will do next.

Leave a comment Comments → 14
  1. EatonvilleTaxPayer says:

    I agree with Rossi on this one….We don’t need another govt. bailout to make us “think” our economy is getting better. What we need are for the ridiculous, hand-tying regulations on small business operations to be lightened up so we can survive and start hiring people.

    If businesses can put more towards payroll and less towards taxes, regulations and over-priced fees, etc. we will put folks back to work and the economy will begin to recover. The govt. can’t keep handing out freebies and expect people to continue…they will just be back for more and more and more…..

    We need action taken so we can fix our own businesses and get them to start profiting once again. As a small business owner in WA State I know the difficulties we are faced with. It’s been VERY slow for 3 years now. We are running out of shoe strings to grasp on to.

    Clint Didier is another candidate who also believes creating new jobs will help strenghthen our economy and get people back to work so they can afford to stay in their homes. I like Rossi, but I prefer Didier, which is why he’s getting my vote.

    CLINT DIDIER FOR US SENATE: http://www.clintdidier.org

  2. tjnpuyallup says:

    The same people who told us the $700 billion stimulus would stop unemployement from going over 8% are now telling us this $30 billion will cause small businesses to hire.

    Anyone who has ever attempted to get an SBA (Small Business Admin.) loan already knows what a catastrophic failure this will be.

    Small businesses will not hire till they have some level of predictability. How can a business owner plan on expanding their workforce when they don’t know what the payroll tax will be in 4 months? Is 99 weeks of unemployment going to 125? How will Obamacare impact premiums? Will they have to pay the Cadillac or premium penalty? Pile on Washington St. flirting with even higher workers comp and UI rates coupled with the City of Puyallup discussing adding a B&O tax.

    Why would any business owner, who has survived this economic downturn to this point, expand (forget starting a new business) with so many of these unknown factors?

  3. coovertc says:

    Economics is simple. Why the hell should small businesses hire when no one has any money to buy stuff? If you want small business to hire, get money in to real people’s hands so they can buy stuff. The GOP doesn’t have a response to the recession because they still cling to this ridiculous idea that if rich people have money they will find these amazing ways to use it to stimulate the economy regardless of how much they screw over the working class. The truth is though that the wealthy just play with their money on Wall Street and find ways to keep making money no matter how bad things do for the rest of us, without doing anything that actually produces anything or any jobs.

    The reason the stimulus didn’t work better is because IT WAS TOO SMALL! You want the economy to work, give tax cuts to those making less than 100K, create jobs for the construction industry where unemployment is at devastatingly high levels, extend unemployment benefits, expand food stamps. CREATE DEMAND

  4. TonyCrago says:

    Wow you must be an accomplished liar or a fool to be a republican.

    Let’s see – it was Baby Bush who started the bailouts folks. The GOP doesn’t want you to remember that but you can look it up and funny, these right wing nut-jobs weren’t complaining when it was AWOL Bush’s idea.

    Secondly, Rossi – like all republicans talks out both sides of his mouth AND manages to lie both times.

    The bill the Party of NO stopped yesterday was about LOANS – not grants. The money would be paid back with interest. The righties are always saying they want to help small business but when you look at their actions, it’s clear they don’t give a rip about anything other than funneling money to their cronies in big energy, the insurance companies, Wall Street and the war machine.

    You really have to be 110% disingenuous to make the arguments these people make and you have to be inbred to believe them.

  5. jimkingjr says:

    What good are LOANS when a small business is already in over its head and looking at INCREASES in taxes thanks to the Democrats. One has to be blind to not see the party in power funneling money to its friends on Wall Street, the insurance companies, big energy, and thye war machine.

    With Clinton’s Wall Stret buddies burning down the economy for Obama like they did for him in the late ’90’s, is it any wonder there is no confidence on Main Street?

    Helping small business is not about tying them closer to the government with loans, it is about getting the government off their backs and out of their wallets- something Democrats never figure out.

    Not everyone is looking for a handout.

  6. comment_tayter says:

    The status quo politicians from both sides shovel more of the same bull to the people they try to fool, and whose votes they need.

    To paraphrase George Carlin: they, and the people they really work for, don’t care about you….they want more for themselves and less for everybody else.

    The same entities that crashed the economy are now the ones keeping it mired in a bog of stagnation. Deflation has arrived, millions are out of work, the R’s oppose continuation of unemployment insurance, but, thank God, the boys on Wall Street are doing OK. And don’t mention that no one from that neck of the woods has been held genuinely accountable for the misery they have caused, or been fined enough to really hurt, or compelled in any way changed their stripes at a fundamental level.

    The best piece of advice I have heard, in the face of ever-increasing ads promoting the little guy’s re-entry into the big casino of stocks, bonds and mutual funds, is to leave Wall Street to the crooks who run it.

  7. dbreneman says:

    Ms. Tennis Shoes doesn’t give a damn about small business people. Where is the compassion in taxing people’s money away, then making them jump through hoops to get a small percentage of it back? This is all about government power, not about helping the economy. Rossi has it dead right on this one.

  8. AreYouHighOrWhat says:

    Dino wants my vote, Patty wants my vote, and Tim Eyman wants to be an elected official without running for office, oh what a world! Unless Dino is going to magically make 1068 eligible for the ballot I’m voting for Eddie Vedder. Patty, well, there just isn’t anything she could do to trick me into voting for her again, I’m a democrat, not a an anti-american progressive commie socialist pretending to be a democrat. Maybe if she’d gone to the Healthcare Summit with the 2000 page bill and was ready to discuss it, instead of parading her sad little photo props around I might have more respect for her, but I’ll NEVER vote for her again.
    ;0)

  9. Sumner401 says:

    When are the republicans going to start telling the truth? The truth that they caused this mess and they have no idea how to fix it, they they really don’t know any thing other than ‘tax cuts’.

    How can anyone, any thinking person that is, support a republican at this point in the game?
    What are they offering?

  10. summit98446 says:

    Bush’s 2 wars, a financial collapse, a trillion dollar annual debt, tax cuts for the super rich & now this entirely preventable oil spill?
    .
    Pure foolishness to reward them with anything other than a NO vote.

  11. backtobasics says:

    TonyCrago make some very valid points in his Reply. And he very rightly points out that people weren’t complaining during the Bush years. Well, he said during the bailouts. But two things took place. 1. As one concerned citizen said to Reid during a Town Hall, the Sleeping Giant is now awake. 2. The voters took care of the Republicans in the 2008 elections.

    Where I differ is in Tony’s description of political machine Republicans as ‘right wing nut-jobs’. The so-called right wing nut-jobs are those of us that believe in our Constitution and want us to go back to the basics of what our Founding Fathers founded our nation on. The political machines of both parties have walked on the Constitution with their self interest and corruption.

    Some say going back to our roots is impossible. But I say we wouldn’t have the problems we have today if power were given back to the states where it belongs. The Power and OUR Money.

    To “find out why our ‘Common Sense’ Government has vanished and what we need to do to get it back”, check out “Our Caucus”. Find out the basis of the corruption of BOTH parties and when you’re finished realize both parties are equally guilty.

    http://www.ourcaucus.com/

    We need to stop looking at the political machine parties who jerk our chains with their chosen picks for office. Yes, that includes both Murray and Rossi.

    Since I don’t want to lose our Constitution, I do support the Constitution based Senate Candidate, Clint Didier. No, he’s no polished politician, but he is the choice of the People. He didn’t have to go to D.C. to figure out if he should run.

    http://www.clintdidier.org/home.html

  12. SFKemerson says:

    Clint “I don’t support the 17th Amendment” Didier?

    The guy who wants to eliminate We the People’s right to directly elected our representation in the US Senate is your champion of constitutionality?

    Does your constitutional scholar still believe the wars in Iraq and Afghanistan are unconstiutional, even though the Supreme Court (who that same Constitution gives the authority to determine constiutionality) disagrees?

    Talk about not ready for primetime…

  13. FreeAmerica says:

    Small business loans with no customers to create revenue for repayment…..Now thats a great idea!

  14. EatonvilleTaxPayer says:

    The main thing that attracted me to Didier wasn’t that he was running as a Republican. I have always voted for the BEST PERSON for the job–that has gone either direction, as well as for Independents. If more people took their head out of the sand and just voted for the best candidate we wouldn’t be quibbling over Dems. and Repubs….parties are just stupid in my opinion.

    Didier’s stand on the issues are his own–he doesn’t look to the “party” to tell him what to think or say.

    DIDIER IS STRONG ON THE CONSTITUTION. He believes in putting more control back to the people, which we have sadly let BIG govt. whittle away at for years. This was the prime attraction to Didier–just as the other comment above said.

    VOTING FOR DIDIER – A candidate who wants to get back to the Constitution and back to the basics of running a free America.

    http://www.clintdidier.org

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