Political Quotes

“Mr. Speaker, we have heard supporters of this bill say it is about protecting taxpayer dollars and stopping fraud, but the facts just don't back that up. There is no evidence that undocumented immigrants are getting loans they are not supposed to. In the one case Republicans like to cite, not prove, that has been provided, it is highly likely that DOGE and the current administration are confusing the rules that were in place at the time with the stricter 100 percent ownership requirement they imposed later. That is what this bill is really doing. It targets small business owners who are here legally, people like DACA recipients, visa holders, and refugees; people who are building businesses, creating jobs, and following every rule. Republicans also claim this bill is about accountability, when in reality it creates a mess for lenders. It forces them to track and verify the age and citizenship status of every single businessowner down to the last percentage point. It requires all of this information just to be considered for the loan, unlike the section 1071 rules which required voluntary reporting after the loan's origination. This bill makes compliance a requisite for obtaining a loan. I have to ask, after all of the complaints we have heard over the years about section 1071, how do my colleagues justify this now? How do my colleagues justify imposing this regulatory regime against lenders and borrowers?”