Mark Kelly: “Most Americans with checking accounts would be shocked to learn that if they started their own business, any checking…”

“Most Americans with checking accounts would be shocked to learn that if they started their own business, any checking account they establish for that business would be prohibited from earning any interest. Yet that is the case today. Checking accounts held by small businesses are banned by Federal law from collecting the interest that money would earn if it were held by an individual. The amendment I am offering addresses this matter and it has been pending before Congress for some time now. This body has actually passed this measure by voice vote not once, not twice, but actually three times; twice in the last Congress, and once earlier in the earlier year in this Congress. Unfortunately, the job is not yet done. So I am coming again in the hope that we will finally be able to send this language to the President's desk. The provisions in this amendment will go a long way in helping our main street banks and small businesses which are essential to growth and communities and our overall economy.”