Herb Kohl: “more than 2,000 reservists were called up Tuesday to participate in NATO Operation Allied Force. These men and women who…”

“more than 2,000 reservists were called up Tuesday to participate in NATO Operation Allied Force. These men and women who may serve for as long as nine months are making a great sacrifice, as are their family members and co-workers who are left behind. It is incumbent upon us to find ways to ease the burden of this service for our reservists, their families and their employers. Two weeks ago the Senate passed tax relief for those serving in Operation Allied Force. The legislation we are introducing today addresses the economic impact of taking reservists away from small businesses, whether the reservist is the owner, a manager or a key employee. The Military Reservists Small Business Relief Act allows small businessmen and women to defer loan payments on any direct loan from the Small Business Administration (SBA), including disaster loans. The bill directs SBA to come up with a policy for payment deferrals for the microloan program and loans guaranteed under one of SBA's financial assistance programs. Deferrals on loan payments would extend 180 days after the reservist's release from active duty. The bill also establishes a low interest economic injury loan program to provide interim operating capital to any small business experiencing economic harm because a military reservist has been called to active duty.”