U.S. Reps Charles Djou and Mazie Hirono of Hawaii have split on legislation that is aimed at helping struggling small businesses with easier credit and other incentives to expand and hire new workers.
Djou opposed and Hirono supported the bill, which the House approved Thursday on a 237-187 vote. It was sent to President Barack Obama for an expected signature.
Djou says the measure deepens the nation’s debt and provides no long-term incentives to create jobs. He also claims a provision will result in government ownership of businesses.
Hirono says it will prod banks to lend to more small firms, increase access to Small Business Administration loans, allow more tax write-offs for equipment investments and reduces small business taxes.