[Congressional Record (Bound Edition), Volume 147 (2001), Part 9]
[Senate]
[Page 12590]
[From the U.S. Government Publishing Office, www.gpo.gov]



CHANGING THE NAME OF THE COMMITTEE ON SMALL BUSINESS TO ``COMMITTEE ON 
                 SMALL BUSINESS AND ENTREPRENEURSHIP''

  Mr. DASCHLE. Madam President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of S. Res. 123, submitted 
earlier today by Senators Kerry and Bond.
  The PRESIDING OFFICER. The clerk will state the resolution by title.
  The legislative clerk read as follows:

       A resolution (S. Res. 123) amending the Standing Rules of 
     the Senate to change the name of the Committee on Small 
     Business to the ``Committee on Small Business and 
     Entrepreneurship.''

  There being no objection, the Senate proceeded to consider the 
resolution.
  Mr. KERRY. Madam President, I would like to take a few minutes to 
explain the historic importance of the Resolution I am putting forward 
with Senator Bond to change the name of the Senate Committee on Small 
Business to the Senate Committee on Small Business and 
Entrepreneurship. This is the first piece of legislation I am putting 
forward as the new Chairman of the Small Business Committee. I am 
pleased that it is a bipartisan Resolution, continuing the tradition of 
the Committee.
  I would like to thank Senator Bond for cosponsoring this Resolution, 
and the Majority Leader and Republican Leader for their cooperation and 
support in bringing it to the floor of the Senate so quickly.
  As many of my colleagues may know, the needs and circumstances of 
today's entrepreneurial companies differ from those of traditional 
small businesses. For instance, entrepreneurial companies are much more 
likely to depend on investment capital rather than loan capital. 
Additionally, although they represent less than five percent of all 
businesses, entrepreneurial companies create a substantial number of 
all new jobs and are responsible for developing a significant portion 
of technological innovations, both of which have substantial benefits 
for our economy.
  Taken together, an unshakable determination to grow and improved 
productivity lie at the heart of what distinguishes fast growth or 
entrepreneurial companies from more traditional, albeit successful, 
small businesses. Early on, it is often impossible to distinguish a 
small business from an entrepreneurial company. Only when a company 
starts to grow fast and make fundamental changes in a market do the 
differences come into play. Policies that support entrepreneurship 
become critical during this phase of the business cycle. Our public 
policies can only play a significant role during this critical phase if 
we understand the needs of entrepreneurial companies and are prepared 
to respond appropriately.
  I believe that adding ``Entrepreneurship'' to the Committee on Small 
Business's name will more accurately reflect the Committee's valuable 
role in helping to foster and promote economic development by including 
entrepreneurial companies and the spirit of entrepreneurship in the 
United States.
  I urge my colleagues to support this Resolution. Thank you.
  Mr. DASCHLE. Madam President, I ask unanimous consent that the 
resolution be agreed to, the motion to reconsider be laid upon the 
table, that any statements relating thereto be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The resolution (S. Res. 123) was agreed to.
  (The resolution is located in today's Record under ``Statements on 
Submitted Resolutions.'')

                          ____________________