[Public Papers of the Presidents of the United States: George H. W. Bush (1992-1993, Book II)]
[September 4, 1992]
[Page 1477]
[From the U.S. Government Publishing Office www.gpo.gov]



Statement on Signing the Small Business Credit and Business Opportunity 
Enhancement Act of 1992
September 4, 1992

    Today I am signing into law H.R. 4111, the ``Small Business Credit 
and Business Opportunity Enhancement Act of 1992.'' The Act will provide 
a major stimulus to the growth and development of small businesses.
    H.R. 4111 will restructure the Small Business Administration's Small 
Business Investment Company (SBIC) program. This restructuring will 
boost investment by the private sector in growth-oriented small 
businesses, while enhancing the safety and soundness of SBICs. H.R. 4111 
also provides a substantial increase in authorized levels of SBA's 
guaranteed business loan programs. Thousands of small businesses will be 
able to obtain much-needed credit as a result of the expansion of these 
programs.
    Two-thirds of all jobs in the United States are created by small 
businesses. This bill ensures that capital, the lifeblood of our 
economy, is available to help small firms start up and to help tens of 
thousands of existing firms to expand and grow.
    Section 203 of the bill enhances small business contracting goals 
for a dredging program. In signing the legislation, I note that current 
law requires the Department of the Army to make every reasonable effort 
to award the designated contracting business to small business concerns.
    Finally, I am pleased to note that section 331 of the bill states 
that it is the sense of the Congress that ``legislation and regulations 
that enhance the viability of small business concerns, including changes 
in tax and health care policy, should be given a priority for passage by 
the Congress.'' I urge the Congress to act promptly on this section by 
passing before the end of this legislative session legislation that will 
truly help small businesses, particularly the capital gains tax cut, the 
investment tax allowance, and the Administration's proposal to allow 
small businesses to increase their purchasing power through Health 
Insurance Networks, making health insurance for their employees more 
affordable.

                                                             George Bush

The White House,
September 4, 1992.

                    Note: H.R. 4111, approved September 4, was assigned 
                        Public Law No. 102-366.