House Proceeding on Sep 4th, 2007 :: 0:42:54 to 0:49:16
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0:39:35 to 0:42:54( Edit History Discussion )
Speech By: Betty Sue Sutton

0:42:43 to 0:42:54( Edit History Discussion )

Betty Sue Sutton: no additional speakers. mr. chabot: we urge our colleagues to support 2992. and yield back. the speaker pro tempore: the gentlewoman from new york. mi ssion velazquez: mr. speaker -- ms. velazquez:

0:42:54 to 0:43:07( Edit History Discussion )

Nydia M. Velazquez: mr. speaker, i yield myself the balance of the time. representative hall legislation, the s.b.a. trade programs act of 2007, promotes the competi tiveness of small businesses in the global economy,

0:42:54 to 0:49:16( Edit History Discussion )
Speech By: Nydia M. Velazquez

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Nydia M. Velazquez: a system in adjusting to economic dislocation, and make certain their needs are represented in u.s. trade policies. due to the increasing global pressures of the small businesses, this modernization

0:43:19 to 0:43:33( Edit History Discussion )

Nydia M. Velazquez: initiative has been widely b supported. the legislation has been endorsed by the u.s. hispanic chamber of commerce, the national glack chamber of commerce, the small business exporter

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Nydia M. Velazquez: association, the national small business association, and theat -- i would like to conclude by thanking the staff that worked on this legislation from the small business committee, nicole,

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Nydia M. Velazquez: michael, and adam, and from mr. sestak's staff, clarence. in conclusion, i would like to commend representative hall and the co-sponsors for this timelyy bill. i strongly urge my colleagues vote for

0:43:59 to 0:44:08( Edit History Discussion )

the s.b.a. trade programs act of 2007. i yield back the balance of my time. . the speaker pro tempore: lt house suspend the rules and pass h.r. 2992 as amended? those in favor will say aye

0:44:08 to 0:44:33( Edit History Discussion )

he those opposed no,. in the opinion of the chair, 2/3 of those voting having responded in the affirmative, the rules are suspended, the bill is passed and without objection, the motion to reconsider

0:44:33 to 0:44:47( Edit History Discussion )

Nydia M. Velazquez: is laid upon the table. for what purpose does the gentlelady from new york rise? >> i move to pass h.r. 3020, the microloan amendments and modernization act. the speaker pro tempore: does the gentlelady

0:44:47 to 0:44:58( Edit History Discussion )

Nydia M. Velazquez: call up -- calm the bill as amended? >> correct. the speaker pro tempore: the clerk will report the title of the bill. the clerk: union calendar 1999, h.r. 3020, a bill to improve the microloan

0:44:58 to 0:45:11( Edit History Discussion )

Nydia M. Velazquez: program and for other purposes. the speaker pro tempore: pursuant to the rule, the gentlewoman from new york, and the gentleman from ohio, mr. chabot will control 20 minutes. the chair recognizes

0:45:11 to 0:45:24( Edit History Discussion )

Nydia M. Velazquez: the gentlewoman from new york. >> i ask unanimous consent that all members may have five legislative days to revise and extend their remarks and include extraneous material on the bill under

0:45:24 to 0:45:37( Edit History Discussion )

Nydia M. Velazquez: consideration. the speaker pro tempore: without objection. >> i yield myself as much time as i my consume. small businesses aaccount for almost half of our country's income. that is only part of

0:45:37 to 0:45:49( Edit History Discussion )

Nydia M. Velazquez: the story. the opportunities through business ownership are limited only by our own imagination and ability. each year 700,000 men, women, and children, follow the dream of entrepreneurship. the

0:45:49 to 0:46:04( Edit History Discussion )

Nydia M. Velazquez: vast majority of our businesses are very small. over 50% of all businesses are home based, most get started without a single employee. but with hard work, that changes. ultimately half of

0:46:04 to 0:46:16( Edit History Discussion )

Nydia M. Velazquez: the people who work in this country now work for smalla businesses. small businesses are flexible and more likely to adapt to changes in the economy. they have to be nimble to survive. so if there

0:46:16 to 0:46:31( Edit History Discussion )

Nydia M. Velazquez: is one thing that we have learned, it is that helping this small business start up and grow, provides a significant benefit for our local and national economy. one of the best methods deviced

0:46:31 to 0:46:49( Edit History Discussion )

Nydia M. Velazquez: to encourage startup small businesses is the small microcredit loan. the s.b.a. microloan program makes funds available to nonprofit community based lenders. in turn these lenders make small

0:46:49 to 0:47:03( Edit History Discussion )

Nydia M. Velazquez: loan to eligible borrowers who are often individuals fledge -- fledglinging entrepreneurs that live in the same community where they work. the microloan amendment and modernization act introduced

0:47:03 to 0:47:16( Edit History Discussion )

Nydia M. Velazquez: by mr. chabot will increase the number of leders an borrowers that will be able to get involved in creating new business and help with people -- help put people in their communities to

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Nydia M. Velazquez: work. it encourages credit reporting so that the payment history of its participants are recorded to their benefit. finally, the bill takes steps to strengthen the prime program, a key initiative

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Nydia M. Velazquez: that provides counseling to low-income entrepreneurs. since its inception in 1992, the microloan program has been reaching many that otherwise will not be served by the private sector

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Nydia M. Velazquez: or even the s.b.a.'s traditional loan programs. the type of people that use the microloan program are borrowers that may be unable to get a loan from traditional sources due to no credit

0:47:55 to 0:48:10( Edit History Discussion )

Nydia M. Velazquez: rating or lack of business experience. by filling this void, microloans have become an important source of assistance for groups who traditionally have had more difficulty accessing capital. these

0:48:10 to 0:48:23( Edit History Discussion )

Nydia M. Velazquez: loans fulfill the goal of widely distributing resources as roughly 1/3 have made it in rural areas. it is for these reasons that the program complements the successes of president clinton's new market

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Nydia M. Velazquez: initiatmaive. microloans are a low-cost, effect ive way to move people off welfare and turn them into business owners an even employers. there have been only -- and even employers. there have

0:48:35 to 0:48:46( Edit History Discussion )

Nydia M. Velazquez: only been two defaults to the government since the program's inception and tens of thousands of jobs retained and created. this is a great bargain for the taxpayers. with that i urge the house to vote

0:48:46 to 0:49:00( Edit History Discussion )

Nydia M. Velazquez: for the microloan program and this legislation. i reserve the balance of my time. the speaker pro tempore: the gentleman from ohio. >> i yield myself such time as i may consume. i rise today

0:49:00 to 0:49:16( Edit History Discussion )

Nydia M. Velazquez: in support of h.r. 3020, the microloan amendment and modernization act. the chairwoman and i worked together on a cooperative basis to bring this technical, but important piece of legislation

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Steve Chabot: to the floor. it represents the first substantive change in the microloan program in more than six years. according to the 2006 nobel laureate in peace, and i quote, microcredit views each person

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Speech By: Steve Chabot