On the recordMarch 16, 2011
this bipartisan amendment is supported by me; Chair Landrieu; Senator Kerry, the former chair of the committee; Senator Coburn; and Senator Webb. This amendment is based on a report that was conducted by the Small Business Committee back in 2008, when Senator Kerry was chair of the committee, and we both requested an investigation into the National Veterans Business Development Corporation, also known as TVC, and found egregious mismanagement. TVC was engaged in mismanagement, misuse of taxpayer money, and did not abide by its statutory obligations. Our committee issued a very detailed report explaining how they misused hundreds of thousands if not millions of dollars. In light of our investigation and subsequent efforts, they do not receive any federal appropriations now. But we want to remove them from statute so they do not have any Federal linkage, any Federal charter, or any ability to use the auspices of the Federal Government for any activities in the future. So I urge support of this amendment and note that both the Veterans of Foreign Wars and the American Legion supported discontinuing the funding for this organization, after our report was released. The ACTING PRESIDENT pro tempore. The Senator from Louisiana.
