Small businesses provide 75 percent of new U.S. jobs and are the backbone of our economy, and no outdated ban should be keeping small business owners from collecting the same interest their money could earn if it were held by an individual.

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As a former small business owner, I recognize both the important role small businesses play in our economy and the broad universe of challenges that small business owners face in trying to make ends meet.

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It is my hope that by reducing the tax burden on small business owners that we can help them grow their businesses and, in doing so, create jobs.

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We've had this program for a number of years now, called 10,000 Small Businesses, where Goldman Sachs has convened a group of partners to basically give business education to small business owners.

— Lloyd Blankfein

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Small business owners that are female, that is their number one problem, is access to capital.

— Marsha Blackburn

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Yet our small business owners across the country are unfairly losing potential interest income on a daily basis until the Business Checking Freedom Act becomes law.