SMALL BUSINESS BILL FACES VETO

The news doesn’t look good for the America’s Small Business Tax Relief Act of 2015 (H.R. 636), passed by the House in February. Passage in the Senate is uncertain since it would require overriding President Obama’s promised veto. He said he would veto the bill because it adds $79 billion to the budget deficit over the next decade. The Senate will need significant support from Democrats to pass the bill and to override the veto. In the House, 33 Democrats voted for the bill, so there likely will be some support in the Senate. But will it be enough?