On the recordMay 12, 2010
Manufacturing provides almost 20 percent of Indiana's jobs, more than any other sector in the State. When I am back in my district, Hoosier manufacturers tell me they want to retool and reinvest in their facilities so that we can better compete in America, so we can be the best in the world so that we can compete with our overseas competition, so that we can grow and put people back to work. However, I often hear from our manufacturers that the credit markets, which have been so tight, have made it very, very difficult to get a loan. This amendment helps those manufacturers to achieve that goal. CBO estimates that for every $1 we provide in loan guarantees, we can generate $6 in loans to manufacturers, meaning this amendment enables the Department of Commerce to generate $600 million in much-needed guaranteed loans to manufacturers who are seeking to innovate and put people back to work. That is why I support this.
Source
govinfo.gov
