Additional Temporary Extension Of Small Business Programs
Floor Speech
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Mr. GRAVES. Mr. Speaker, I rise today in support of the chairwoman's request to suspend the rules and pass S. 1929, as amended.
The bill is very simple. It is a clean extension that prolongs the authorization of all programs authorized by the Small Business Act, the Small Business Investment Act, and any program operated by the Small Business Administration for which Congress has already appropriated the funds. This extension is going to last until January 31, 2010.
This extension is essential because the authorization of various programs operated by the SBA ceases on October 31, 2009. Over the past two Congresses, our committee has worked in a bipartisan fashion and reported out a number of bills to reauthorize and extend the programs operated by the SBA. Despite our efforts to come to terms with various differing aspects of our and the other body's legislation, the extension passed earlier this year will expire before the legislative process can run its course.
The work needed to help America's entrepreneurs revitalize the economy simply cannot be accomplished within the timeframe outlined in the current legislation. We not only need to reauthorize these critical programs, but also update them to respond to the reality that is the 21st century. The extra time contained in this legislation allows us to fully explore and implement the ideas that will give our Nation's entrepreneurs the tools they need to be successful.
Without enactment of this extension, a number of vital programs that the SBA operates would cease to function. Given the continued importance that small businesses play in the revitalization of the American economy, we cannot allow the SBA authorization to run out. Passage of this legislation will enable the House and Senate to continue to work in an industrious manner to address necessary changes to SBA programs.
I urge all of my colleagues to suspend the rules and pass S. 1929, as amended.
I reserve the balance of my time.
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