On the recordJuly 13, 2010
Mr. President, we are working here on the floor of the Senate to encourage a strong economic recovery, but it still remains clear that too many Americans are unable to find work. We know small businesses are the real job engines in our economy, so I am particularly pleased that the Senate is right now debating a small business lending bill. I rise today because I would like to further improve the bill through an amendment that would take a simple step to safely increase lending to small businesses. We do that mainly by getting government out of the way so that credit unions can increase their small business loan portfolios. Today, in every single State of the United States, there are credit unions that have cash on their balance sheets, and they are ready to respond with loans for more money. There are many worthy small businesses in communities across our country, in Colorado and Illinois, that need the loans, but Federal law currently prohibits Federal credit unions from fully helping our entrepreneurs. Especially in this economy, we need to change that. We know small business expansion is what is going to pull us out of this recession. Small businesses have always been the job engine of our economy. In the last 15 years, small businesses have generated nearly two-thirds of all new jobs created in our country, and they currently employ more than half of all Americans. I traveled across Colorado this year and last year, as you have in your State, Mr. President.…





