On the recordJanuary 28, 2010
I am introducing today the Boosting Entrepreneurship and New Jobs Act that I believe is desperately needed. I think it is very clear that our economy, which is coming out of the worst recession since the Great Depression, has turned a corner. But we need to create more jobs in America. We know that. We know that 1 out of 10 Americans who wish to work cannot find jobs. Our first responsibility must be to help create more jobs so our economy can rebound and grow. To do that, we need to invest in small businesses. I was pleased to hear the President of the United States last night talk about the importance of small business in our recovery. As we develop our policies, we need to focus on helping small businesses grow. In the American Recovery and Reinvestment Act, we took action and increased the loan limits under the Small Business Administration. We were able to make it less expensive for businesses to borrow from the Small Business Administration. These were good steps we took. I was proud of an amendment I offered to increase the surety bond limits so small construction companies could, in fact, get work in this economy. I was proud of the amendment that passed to increase the SBA's budget by about $180 million so they could have the capacity to help small companies with technical assistance in order to get government jobs. All of that has happened. We all know 99.7 percent of all firms in America are small businesses. That is the economic engine of America.