MCUL and CUNA continue to work with our federal lawmakers to secure a vote on and passage of the Credit Union Small Business Jobs Act, our legislation to increase the member business lending cap from 12.25% of assets to 27.5%.
Senate Majority Leader Harry Reid’s promise of a vote in the U.S. Senate still holds and work continues to bring his promise to fruition after the November general election. MCUL has updated the CapWiz action alerts on MBL for both the U.S. House and Senate.
As meetings and conversations continue on this issue, there is growing confidence in our ability to win an up-or-down vote on the legislation, but there is still much work to be done and not much time remaining in this Congress.
In an effort to strengthen our message of support for these bills, MCUL and CUNA are asking all credit unions to send the updated letters to their federal lawmakers between now and the general election. Alerts for both the U.S House and U.S. Senate have been updated for a post-election vote and can be accessed here.
“We currently have nine of Michigan’s 14 U.S. House members as co-sponsors of that chamber’s version, H.R. 1418, and both of Michigan’s U.S. Senators are staunch supporters and co-sponsors of S. 2231,” CEO David Adams said. “It is critical that, in the next few weeks, we thank our supporters and urge those who have not yet joined on to co-sponsor the legislation or at the very least commit to voting 'yes' in an up-or-down vote.”
For any questions or more information, please contact Kieran Marion, vice president of governmental affairs, at (800) 262-6285, ext. 465, or Kieran.Marion@mcul.org.