[Congressional Record (Bound Edition), Volume 145 (1999), Part 19]
[House]
[Page 27854]
[From the U.S. Government Publishing Office, www.gpo.gov]



MICROENTERPRISE DEVELOPMENT, THE TIME HAS COME TO SUPPORT HARD-WORKING 
                               AMERICANS

  The SPEAKER pro tempore. Under the Speaker's announced policy of 
January 19, 1999, the gentlewoman from Maryland (Mrs. Morella) is 
recognized during morning hour debates for 3 minutes.
  Mrs. MORELLA. Mr. Speaker, this seemed like a good opportunity to 
call attention of this body to a bill that I think is worthy of 
consideration and passage. From Bangladesh to Guatemala, one of the 
most exciting strategies for fighting poverty in developing countries 
is microenterprise development. For poor women especially, the practice 
of extending very small loans and improving access to financial 
services has revolutionized the lives of poor people and the way in 
which we think about poverty-focused development.
  We are now learning that microenterprise development can transform 
the lives of poor Americans as well. The time has come for us to 
provide the same support to these hard-working Americans that we have 
provided so successfully to millions of people around the world.
  The program for investment in microentrepreneurs, called the PRIME 
Act of 1999, which is H.R. 413, sponsored by my colleagues the 
gentleman from Iowa (Mr. Leach) and the gentleman from Illinois (Mr. 
Rush), and I am a cosponsor, that provides us with an opportunity to do 
just that.
  Unlike developing countries where access to credit is the biggest 
obstacle to poor entrepreneurs, American entrepreneurs face significant 
challenges to access the training and the technical assistance that is 
necessary to navigate the complex American economy. Though poor 
entrepreneurs may already have a business idea and a willingness to 
work hard, they may lack the financial and business skills that are 
necessary to turn a good idea into a sustainable business.
  Very often, a little training and technical assistance can be the 
difference, the difference between success and failure, between food on 
the table and an evening of hunger. The PRIME Act can be a catalyst for 
such change. I hope this body will consider it and pass it.

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