Political Quotes

“I understand Senator Toomey has objected to my unanimous consent request, but I do think it is important to point out that in fact the amendment he has proposed would essentially undermine the program. That is why I say that is not an amendment that is a real effort to improve the bill. In fact, it is not being offered on any other of these kinds of programs--didn't offer it on Senator Vitter's legislation, on increasing the SBA 7(a) program cap. If that is a conversation he wants to have as a member of the Budget Committee and for the Budget Committee to start talking about that, that is very appropriate, but that should not undermine the efforts of small businesses to get the lending they need. In fact, this is a program that has a history. It has a history that shows that it has a lower default rate than other SBA loan programs. In Pennsylvania alone, it created 1,700 jobs during the time it was in effect. So I think there is the possibility to get to some agreement, even though we have already made some reforms to this bill in committee, but I don't think gutting the program in a way that makes it ineffective is the way to do that. I yield the floor. The PRESIDING OFFICER. The Senator from Michigan.”