David Schweikert: “I thank my friend and colleague from Arizona and the ranking member. Mr. Chairman, we remember the EIDL loans from…”

“I thank my friend and colleague from Arizona and the ranking member. Mr. Chairman, we remember the EIDL loans from during the pandemic. We have some documents that say there may be as much as $62 billion in impairment. Understand that there is a difference between impairment and delinquency behind those. We actually have an intense concern on some of the articles and other things that have come to our attention that the collection--look, this is never a happy conversation when you are talking about going out and collecting loans, but this is money that is owed to the hardworking taxpayers. It is only fair. We made a deal. We actually believe if we take the mean of some of the reports we have been best able to get, there is about $33 billion that is ready for, functionally, some type of hard collection. They are substantially delinquent. We are here fighting over dollars. We are fighting over pennies sometimes. If there are billions of dollars out there that are owed back to the Small Business Administration and those things, we have the legal obligation to go collect. That is the deal. The amendment is trying to move away from an article in The Washington Post that was basically saying the Small Business Administration had either slowed down or stopped pursuing collections. Let's go collect the money. As we are lifting every seat cushion around here trying to find resources, there is a stack of resources here.…”