Temporary Extension of Small Business Programs

Floor Speech

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Ms. VELÁZQUEZ. Madam Speaker, I yield myself such time as I may consume.

Madam Speaker, the role of small businesses is critical to creating new jobs. With the economy continuing to face challenges on several fronts, we need small firms more than ever. Time and again, they have generated the ideas and know-how that spark job growth. However, entrepreneurs face challenging economic headwinds. Small businesses continue facing obstacles accessing capital, and sales remain flat. Given these realities, we need to make sure that small firms have the resources and tools to start up or expand.

The legislation we are considering today does this and extends the authorization of the several important Small Business Administration programs. Through these initiatives, firms can secure financing, receive training, or compete more effectively for Federal contracts.

While we must keep these programs operational, it is unfortunate that we are doing so through another temporary extension. Last Congress, the House passed 14 bills updating all of SBA's financing and entrepreneurial development programs. However, while the Senate was able to report a few measures out of committee, they were unable to actually pass any legislation affecting these programs through the Chamber. As a result, we are here today to temporarily extend the SBA's initiatives.

Small businesses across the Nation depend on a strong SBA. This is especially true now, when many unemployed individuals are turning to entrepreneurship as a source of income. By ensuring that the agency's programs do not lapse, we are providing small businesses with the foundation for future growth and, in doing so, helping move the economy forward.

Madam Speaker, I urge a ``yes'' vote.

I yield back the balance of my time.

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