[Congressional Record Volume 151, Number 79 (Wednesday, June 15, 2005)]
[Extensions of Remarks]
[Pages E1247-E1248]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




SCIENCE, STATE, JUSTICE, COMMERCE, AND RELATED AGENCIES APPROPRIATIONS 
                               ACT, 2006

                                 ______
                                 

                               speech of

                             HON. AL GREEN

                                of texas

                    in the house of representatives

                         Tuesday, June 14, 2005

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 2862) making 
     appropriations for Science, the Departments of State, 
     Justice, and Commerce, and related agencies for the fiscal 
     year ending September 30, 2006, and for other purposes:
  Mr. AL GREEN of Texas. Mr. Chairman, I rise today in support of the 
Small Business Administration's 7(a) loan program.
  The 7(a) loan program is essential for our nation's small business 
owners. It provides accessible and affordable financing that enables 
such businesses to grow, which in turn leads to the creation of jobs so 
desperately needed in the current economy. In the past 10 years, the 
SBA has approved more than 424,000 loans totaling over $90 billion. 
These loans

[[Page E1248]]

have created jobs and economic opportunities for countless Americans.
  Small business owners are the backbone of our nation's economy. 
Representing more than 99.7 percent of all U.S. employers, small 
businesses are the number one job creator in this nation. They employ 
more than half of all private sector employees and generate 60 to 80 
percent of net new jobs annually. In Houston, 98 percent of the more 
than 350,000 businesses are small businesses.
  Funding for this program was eliminated for FY 2005 and the cost of 
it was shifted to small businesses and community-based lenders. This 
has caused small businesses to be charged with high upfront fees which 
keep many from being able to obtain the financing they need. In fact, 
small business lending has declined every quarter for a total of half a 
billion dollars so far this year.
  As policy-makers, we have a responsibility to the communities we 
represent to help them achieve economic strength. Therefore, we must 
provide small businesses with the resources they need to grow and 
flourish. One of the most effective ways to do this is to reinstate 
funding for the 7(a) loan program. If we fail to do this, the 9th 
Congressional District of Texas and Congressional Districts all over 
the country will suffer negative impacts.
  For these reasons, I support the restoration of funding for the 7(a) 
loan program to its FY 2004 level of $79 million. I also urge my 
colleagues to vote ``yes'' on the Velazquez amendment.

                          ____________________