The number of Florida co-sponsors for
HR 3380, The Promoting Lending to America's Small Businesses Act of 2009, has grown to eight after Rep. Tom Rooney (R-16th) signed on. Rep. Rooney joins Gus Bilirakis (R-9); Corrine Brown (D-3); Kathy Castor (D-11); Alan Grayson (D-8); Suzanne Kosmas (D-24); Jeff Miller (R-1); and Bill Posey (R-15) as co-sponsors. The bill would raise the credit union member business lending cap from 12.25 percent to 25 percent for credit unions.
Rep. Paul Kanjorski (D-PA) and Rep. Ed Royce (R-CA) initially drafted HR 3380. Since the CUNA GAC in late February, more than 40 of their colleagues have lent their names to the bill. The LSCU is meeting with all of its lawmakers to help them to understand how passing HR 3380 will infuse $10 billion into the marketplace for member businesses without costing the tax payers a dime. Currently the legislation is in its infancy residing in committee right now.