[Congressional Record Volume 155, Number 50 (Tuesday, March 24, 2009)]
[House]
[Page H3757]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          KEEP TO THE FACTS IN DEBATING THE PRESIDENT'S BUDGET

  (Ms. LORETTA SANCHEZ of California asked and was given permission to 
address the House for 1 minute and to revise and extend her remarks.)
  Ms. LORETTA SANCHEZ of California. Mr. Speaker, the President has 
sent his budget proposal to the Congress, and for the next few weeks we 
will debate it, but let's keep to the facts in debating it.
  There have been partisan attacks that claim that President Obama's 
budget will raise taxes on small businesses. In fact, the President's 
budget eliminates the capital gains tax for individuals on the sale of 
certain small business stocks and makes the research and 
experimentation tax credit permanent.
  These proposals will spur investment and innovation to help small 
businesses. These are the job-creating engines of our economy, and 
nowhere else but in California can you see them so prominently working 
in this economy to build those jobs we so desperately need. Ninety-
seven percent of all small businesses will not see their taxes increase 
in 2010.
  What else is in the budget for small businesses? Twenty-eight billion 
dollars in loan guarantees to expand credit availability for small 
businesses at a time when it is really needed and support for the $1.1 
billion in direct disaster loans for businesses, homes, and homeowners.

                          ____________________