[Congressional Record Volume 153, Number 107 (Friday, June 29, 2007)]
[Extensions of Remarks]
[Pages E1467-E1468]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   FINANCIAL SERVICES AND GENERAL GOVERNMENT APPROPRIATIONS ACT, 2008

                                 ______
                                 

                               speech of

                           HON. JOHN J. HALL

                              of new york

                    in the house of representatives

                        Wednesday, June 27, 2007

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 2829) making 
     appropriations for financial services and general government 
     for the fiscal year ending September 30, 2008, and for other 
     purposes:

  Mr. HALL of New York. Mr. Chairman, I am a committed advocate for 
small businesses, which are a driving force in the economy of the 
Hudson Valley. To help support these businesses, I cosponsored the 
Small Business Tax Relief Act, which provided a number of tax breaks to 
local small businesses including enhancement of the work opportunity 
tax credit and the ability to claim the work opportunity tax credit 
against AMT liability. I was proud to see the President sign that small 
business tax relief package into law earlier this year. The bill we 
considered today, the Financial Services and General Government 
Appropriations Bill, included over $580 million for the Small Business 
Administration. Small businesses are a vital part of the 19th district 
of New York and the country as a whole, and I am committed to helping 
small business owners succeed in the 21st century and beyond.
  During consideration of the Financial Services and General Government 
Appropriations Bill I voted against an amendment proposed by 
Congressman Garrett that would have extended a moratorium on 
enforcement of

[[Page E1468]]

section 404 of the Sarbanes-Oxley Act. I am concerned that the 
amendment would have weakened the Sarbanes Oxley system, which is 
designed to ensure transparency in America's corporations and protect 
innocent shareholders and employees from corporate malfeasance. I have 
not forgotten what led to the demise of companies like Enron and 
Worldcom, and I am committed to ensuring that such tragedies are not 
repeated. I look forward to continuing to work with colleagues to 
pursue ways to support small business growth and corporate 
accountability.