[Congressional Record (Bound Edition), Volume 158 (2012), Part 3]
[Senate]
[Pages 3471-3472]
[From the U.S. Government Publishing Office, www.gpo.gov]




                             SMALL BUSINESS

  Mr. REID. Mr. President, this week the Senate has demonstrated that 
when Democrats and Republicans cooperate, we are capable of achieving 
significant results for this country. We passed a transportation bill 
that will create or save almost 3 million jobs--and these are American 
jobs--and rebuild our Nation's crumbling infrastructure. Yesterday we 
chartered a course to confirm 14 new judges in the short term and a 
path for getting more done following that, and this is important 
because our Federal courts are overworked and understaffed.
  We agreed that Congress should continue its work to improve the 
economy. To that end, the Senate will move today to a piece of 
legislation that will improve innovators' access to capital and give 
startups the flexibility they need to hire and to grow. This bill 
passed the House by an overwhelming margin. President Obama supports 
this measure, and both Democrats and Republicans are eager to get to 
work to pass it next week.
  In addition to the small business capital legislation, Democrats will 
also advance a proposal to help American businesses sell more of their 
products overseas. Reauthorization of the Export-Import Bank--or Ex-Im 
Bank, as it is called--will help small businesses export globally. Not 
only will it help small businesses, it will help large businesses such 
as Caterpillar and Boeing. These companies really need this to continue 
the job creation they have been involved in now for the last several 
years. As an example, last year Ex-Im Bank financed almost 300,000 
private sector jobs at more than 3,600 different American companies in 
more than 2,000 communities throughout America. Foreign governments 
often provide the financing for companies that compete with American 
businesses. We need to do this to be more competitive. Ex-Im Bank 
levels the playing field by being available to help American exporters 
when private lending is not available. Unless we reauthorize the bank, 
it will hit its lending limit this month, eliminating support for 
American exporters.
  The Export-Import Bank has always had strong bipartisan support, and 
the

[[Page 3472]]

Democrats' legislation reauthorizing this measure has the firm backing 
of the Chamber of Commerce and organized labor. This is a strong 
combination that equals one result; that is, jobs.
  Advancing these two items--the Ex-Im Bank and the small business 
capital bill--will continue the important bipartisan work we have done 
this week to get our economy back on track.
  I am pleased that Democrats and Republicans in the Senate have been 
able to find common ground. President Franklin Roosevelt said:

       Competition has been shown to be useful up to a certain 
     point and no further, but cooperation, which is the thing we 
     must strive for today, begins where competition leaves off.

  I think we have shown this week that achievement comes when Members 
all strive, as President Roosevelt said, not to compete but to 
cooperate.

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