On the recordNovember 8, 1997
I urge the House today to support H.R. 1129, the Microcredit for Self-Reliance Act which is up on suspension today. Microcredit is one of the universally recognized U.S. programs that has produced incredibly significant and positive results. This bill introduced by the gentleman from New York [Mr. Houghton] and the gentleman from Ohio [Mr. Hall] will continue the great work that has been done using this economic assistance plan. Microcredit provides small loans to people who want to start a business but would not be able to secure normal financing. It has worked well in Africa where it has been successfully used in many countries. It is especially effective in promoting women's rights and family development. I would also like to recognize our own U.S. microcredit programs initiated by groups like Results of Miami, which has helped so many young women start their own businesses. Minorities in the United States benefit greatly from microcredit programs. In my hometown of Miami, Jamaican-Americans have started Caribbean food product stores, Haitians have opened acrylic nail shops which are so popular, Cuban-Americans have set up mom and pop hardware stores. It has been a success in Miami. It can succeed in your town, and we can export it across the oceans.
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