Sam Farr: “I rise in opposition to the CJS appropriations committee recommendation to eliminate funding for the SBA 7(a) program…”

“I rise in opposition to the CJS appropriations committee recommendation to eliminate funding for the SBA 7(a) program and in support of the Manzullo-Velazquez Amendment. The challenges for small businesses in this stagnant economic climate are formidable--rising health insurance costs, increasing energy expenses and dramatic outsourcing competition. The SBA 7(a) program is the only source of affordable, long-term financing for many of our nation's small businesses. It offers assistance to established small businesses and acts as a catalyst to energize and foment the entrepreneurial spirit that, as Americans, we must celebrate and nurture. The 7(a) program not only serves as a lifeline to entrepreneurs, it also creates American jobs. Small businesses account for approximately 75 percent of the net new jobs in America. The SBA 7(a) program annually generates 360,000 jobs. If the Bush administration is truly serious about growing the economy and creating jobs on Main Street instead of offering tax cuts for Wall Street, they should not have zeroed out this program in their budget. We must continue to fund this important program that is instrumental to fostering the entrepreneurial spirit. How can we deny our constituents the chance to realize the American dream and create their own business and be their own boss? Every job counts in this economy and the U.S. government has the obligation to foster free enterprise and small businesses by funding the SBA 7(a) program.”