Jeff Flake: “Mr. Chairman, for 11 years here I have argued consistently that the only way we really get to the bottom of trying to…”

“Mr. Chairman, for 11 years here I have argued consistently that the only way we really get to the bottom of trying to resolve many of the issues that are endemic to those communities where many of us would agree we need to make adjustments in our approaches to social programming is to create investment vehicles, investment opportunities, create the means by which government becomes the tool that leverages the possibility for development. I am more than a Congressman, I am a minister who happens to be involved in development and has done more than 50 million dollars' worth in the community where I live. The bottom line is the one thing we do not have in those communities is access to capital. One reason we started out with the Bank Enterprise Act was to create vehicles by which we could get capital into the communities and not just focus on housing but also focus on redevelopment of commercial strips, getting people involved as entrepreneurs, getting them in business for the first time in their life. If we are talking now about trying to reduce a program that has only been funded for 1 year, we are going to take away funding in the second year, the reality is it will take us almost forever to get that program back up to a point where we get businesses started in those communities.”