Political Quotes

“Mr. President, most of us have heard the metaphor that small businesses are the engines that power our economy. What we don't hear people talk about as much is the fuel that feeds the engines: capital. Without capital, entrepreneurs cannot see their ideas to fruition, successful business owners cannot expand to meet the needs of the market, and eager job seekers must take their skills elsewhere. Without capital, Main Street falters, and Wall Street keeps the advantage. Today, more than 9 years after the start of the great recession and many policy reforms later, access to capital remains a challenge. This capital drought hampers small business growth, economic development, and job creation in Oregon and across the country. Despite this, government regulation continues to tie the hands of many willing small businesses lenders--namely, credit unions. According to some estimates, credit unions could lend an additional $11 billion to small businesses if Congress loosened restraints on credit union business lending. With this in mind, I am pleased to introduce today the Credit Union Residential Loan Parity Act with Senator Murkowski. This bill would increase access to capital by exempting certain loans from the member business lending cap imposed on credit unions. Currently, loans made for one- to four- person, non-owner-occupied housing are treated as business loans when they are made by credit unions.…”