[Congressional Record Volume 157, Number 148 (Wednesday, October 5, 2011)]
[House]
[Page H6564]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 WE CAN ALL AGREE ON THE NEED FOR JOBS

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Georgia (Mr. Woodall) for 5 minutes.
  Mr. WOODALL. Madam Speaker, as you know, when folks turn on C-SPAN, 
it's not hard to find those things that divide us here on the House 
floor. We can talk to anybody that we see walking around the Capitol 
today, and they could talk about those issues that divide us as a 
Nation. But I'm a firm believer that there is actually more that unites 
us as a Nation than divides us. And I know one of the things that 
unites this House in this time in our Nation's history, more than in 
others, is that desire to create jobs for American families.
  We all have those families in our districts that are struggling with 
foreclosure right now, Madam Speaker. We all have those families in our 
districts that are struggling with layoffs. And we have those families 
in our districts that are the small business owners that actually drive 
this economy.

                              {time}  1100

  That's another area of agreement we have, Madam Speaker. Folks know 
it's not the big businesses in America that hire; it's the little 
businesses in America. It's those entrepreneurs out there. It's those 
folks who think that they have an idea. It's that husband and wife team 
who goes out and says, I can do it better, and they hang out their own 
shingle.
  But anybody who's talked to those small business men and women these 
days, Madam Speaker, knows that folks have a tough time getting access 
to credit. It seems now in America the only people who can borrow money 
are folks who don't need any money at all. And that's a challenge. 
That's a challenge because what makes this economy grow are those folks 
who say: I can use that money better. I can do something more 
efficiently. I can add productivity if only you'll take a chance on me.
  But the regulators, Madam Speaker, that's what I hear from my 
bankers: My regulators won't let me lend anymore. That's what I hear 
from my bankers: The regulators came in, Rob, and told me I can't give 
any more money out to small businesses.
  So where are we? Where are we? What's going to hire our young people, 
Madam Speaker? What's going to fuel the economy? What's going to pay 
the Social Security taxes that need to be paid if we can't create those 
jobs?
  Well, I want to talk about something else that unites us as a House, 
and that's H.R. 1418. It's the Small Business Lending Enhancement Act, 
Madam Speaker, and it's sponsored by 33 Republicans and 51 Democrats. 
You don't hear that very often when you watch C-SPAN, Madam Speaker. I 
know that to be true. But about half Republicans and about half 
Democrats come together on what is called the Small Business Lending 
Enhancement Act that says to our credit unions, those small 
institutions in each of our communities, be a part of job creation.
  I ran for Congress, Madam Speaker, on the platform that it's not that 
the government does too little; it's that the government does too much. 
There's nothing wrong with the foundation of America. It's the way 
we've hamstrung America with additional rules and regulations. Our 
credit unions are in that spot.
  For folks who don't know, credit unions today are only allowed to 
lend about 12\1/4\ percent of their assets to small businesses, to 
businesses at all, in fact, and they want to do more. Folks can't find 
the money at banks. They come to their credit unions. They say, Can you 
help? And Congress has said, No. Congress has said, No.
  It's not what we need to do. It's what we need to undo. H.R. 1418 
undoes that 12\1/4\ percent cap, Madam Speaker, and raises it to 27\1/
2\. Hear that. Every credit union in America would be able to 
participate in funding small businesses, in providing the capital that 
small businesses need to succeed. You can't succeed without capital. 
Capital's not available in America today. We need to find ways to do 
that.
  Something else you don't hear a lot, Madam Speaker, is where the 
House and the Senate are coming together on things. These days, more 
than most, it seems hard to find those things that the House and Senate 
agree on. But to be clear, this bill has been introduced in the Senate, 
too. It's S. 509 on the Senate side, and it has 20 cosponsors in the 
Senate, so that's about one-fifth of the Senate is already on board. 
Eighty-four Members of the House, that's about 20 percent of the House 
also on board.
  This is something we can do, Madam Speaker. It's something we can do 
today. It doesn't cost the taxpayer a nickel--doesn't cost the taxpayer 
a nickel--and frees up capital for our small business men and women.
  I want folks, Madam Speaker, to look out over the horizon, as you and 
I do, and say: What's going to change joblessness in this country? 
What's going to change it?
  We have the lowest level of entrepreneurship in this country that we 
have seen in 30 years--30 years--and it's entrepreneurs that drive this 
train. It's not the big guys; it's the little guys.
  This bill, Madam Speaker, frees up our money that we have put into 
our credit unions by removing restrictions that we, as a Congress, have 
placed on our credit unions to allow them to be a part of job growth.
  We don't need another stimulus bill. We don't need to spend more 
taxpayer money. And by ``taxpayer money,'' I mean, as the gentleman 
from Massachusetts said earlier, money we're borrowing from China to 
spend on stimulus programs. We can do it simply by undoing those rules 
and regulations that we've passed already in this House, Madam Speaker.
  H.R. 1418, it doesn't do it overnight; it does it gradually. It 
requires that the regulators be involved. It says only if you have 
experience in member lending, only if you're well capitalized, and only 
if you have a history of doing it well.
  Let's pass H.R. 1418, Madam Speaker, and let's move it to the Senate.

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