Nydia M. Velazquez: “On October 1, the Bush administration effectively implemented a tax on U.S. entrepreneurship. By doubling the fees on…”

“On October 1, the Bush administration effectively implemented a tax on U.S. entrepreneurship. By doubling the fees on 7-A loans, the Bush administration has severely limited access to critical source of capital for our Nation's small businesses. I want to be on record, and I want every Member in this House to be on record about the fact that last July, an amendment to the CJS appropriations that would have protected the 7-A program was approved with strong support. The House was on record then, and we should continue to be on record for the small business community. This amendment sends a message that Congress is not willing to accept the recent policy decisions of the Bush administration to further burden U.S. entrepreneurs. They are our job creators. They drive our economy and they deserve our support. Our goal is to fully repeal the freeze on the 7-A loans. While this amendment will not change the fee structure, it will help entrepreneurs afford this vital source of capital. So I therefore urge my colleagues to support this amendment.”