Nydia M. Velazquez: “we are here today because Congress has failed to complete its work. Over 1 year ago, the Committee on Small Business…”

“we are here today because Congress has failed to complete its work. Over 1 year ago, the Committee on Small Business unanimously reported out a bipartisan reauthorization bill. As a result of the failure to move this legislation, the authorization for the SBA expired last year and we are now forced to pass our fourth extension. Shamefully, the agency has been operating for 3 months without any authorization. It is clear that the Nation's job creators, small businesses, are struggling. The United States has lost 1.7 million jobs since 2001, and we are continuing to see growth rates that only keep up with inflation. American manufacturers are being hit hardest, with 2.7 million jobs lost during that period and 11,000 lost in June alone. This is clearly not the picture of an economy that is getting back on its feet. Last week, the House Committee on Small Business Democrats released a quarterly small business index showing that business conditions are at 7-year lows. Skyrocketing health care and energy costs and exploding Federal budget deficits are but a few of the barriers small firms face in achieving the growth our economy needs so badly. At a time when we should be providing our Nation's entrepreneurs a leg up, this administration and the Republican Congress has continuously failed to provide the assistance they need by blocking passage of the SBA reauthorization.”