Political Quotes

“the 7(a) program at the Small Business Administration has operated on full cylinders, breaking record after record of program usage throughout all demographic and regional groups. Look at this chart and look at the number of 7(a) loan approvals. It is going off the charts ever since the subsidy got removed. In fact, there have been more 7(a) loans made thus far in the 9 months of fiscal year 2006 than in all of fiscal year 2001. By removing the 7(a) loan subsidy from the uncertainties of the annual appropriations process, this has produced a stable and predictable program. When the 7(a) program has subsidies, then it is subjected to yearly shutdowns when there is not enough money, as what happened in December of 2003. When the subsidies get removed and taxpayers save $40 to $100 million a year, no shutdown will ever occur because the program will never run out of money. So why would you want to subject a good program to a shutdown by running out of money? It simply does not make sense. The noble intent of the Velazquez amendment is to reestablish a lower 7(a) fee structure exactly as it existed in 2003 and 2004. However, with a higher 7(a) program level, an appropriation of $168 million would be required, according to the SBA. The $40 million in the Velazquez amendment would not result in the cutting of any fees to small businesses.…”