[Congressional Record Volume 155, Number 49 (Monday, March 23, 2009)]
[Extensions of Remarks]
[Page E741]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                SMALL BUSINESS ADMINISTRATION EXTENSION

                                 ______
                                 

                               speech of

                        HON. SHEILA JACKSON-LEE

                                of texas

                    in the house of representatives

                        Tuesday, March 17, 2009

  Ms. JACKSON-LEE of Texas. Mr. Speaker, I rise in strong support of 
H.R. 1541.
  The Small Business Administration (SBA) was created in 1953, and has 
a current business loan portfolio of roughly 220,000 loans worth more 
than $50 billion, which makes it the largest single financial backer of 
U.S. businesses. My district is home to many of these businesses, many 
of which are struggling to hang tough in this trying economy.
  In the 110th Congress, several short-term SBA authorization measures 
were enacted; the latest was signed into law on May 23, 2008. Under 
that law, authorization for SBA programs is scheduled to expire on 
March 20. I am hopeful that President Obama continues the recognition 
and support for small businesses that he demonstrated yesterday. His 
leadership, along with that of my colleague Nydia Velazquez on these 
issues could not come at a more important time.
  Small business is frequently viewed as an incubator for employment 
and economic growth, and is a continuing legislative and oversight 
concern for Congress due to its constitutional role, through the 
interstate commerce and general welfare clauses, to promote economic 
well being and prosperity.
  While many analysts believe a very significant percentage of the 
nation's jobs are created by small businesses, others note that a great 
many small businesses fail every year thereby eliminating jobs.
  The 111th Congress is likely to consider many small business issues 
as it debates reauthorization for the many Small Business 
Administration (SBA) programs that are scheduled to expire in 2009. Our 
small business owners need certainty to plan for the future and I will 
continue to work hard for a more permanent solution to complement the 
authorizations that many businesses have to endure.
  A primary issue in the reauthorization is likely to be the cost to 
the government of various small business assistance programs. The Bush 
Administration had proposed that certain loan programs be cut back or 
eliminated, that borrowers in the SBA's basic loan program be charged 
higher fees, and that interest rates for disaster loans rise to market 
levels after five years. I hope that a full review of these policies is 
underway by the new administration.
  Ways to insure that small businesses benefit from economic stimulus 
programs are likely to be considered. Finding ways for small businesses 
to provide health insurance to employees could be vital in getting 
elements of the business community to be actively supporting and 
working with Congress as we press ahead with legislation on health 
care. I understand that we in Congress cannot run your businesses for 
you. I just want to be there to help fashion fair and reasonable 
legislation that affects small business.
  Mr. Speaker, this bill authorizes Small Business Administration 
programs and authority through July 31 and again it is my hope that we 
continue to engage the business community as this Congress seeks to 
move America from recession back to prosperity.

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