Disagreement on Amendments Slows Small Business Bill

On July 29 Senate Republicans blocked an attempt by Democratic leaders to invoke cloture and proceed to debate on the small business bill (HR 5297) in a 58-42 vote. Republicans opposed further movement on the bill due to their inability to offer amendments, including the Lincoln/Kyl motion for estate tax relief (phased-in 35% rate and $5 million exemption indexed for inflation, stepped-up basis and retroactive “election”). Leaders are expected to continue negotiations to enable a path forward for the bill.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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