I support the Community Development Banking and Financial Institutions Act. I believe it will spur lending in underserved areas and I believe it will help the private sector to create jobs. The manager's amendment to S. 1275 includes an amendment, the Rural Capital Formation Amendment, that I and Senator Leahy have proposed. The purpose of this amendment is to make sure that the benefits of this legislation are felt in our rural communities. It will specifically give new and small rural community development banks more flexibility in meeting the matching requirements. I thank the committee chairman, the distinguished Senator from Michigan, and the ranking member, the distinguished Senator from New York for their assistance and cooperation.
Editor's note · Context
Supporting the Community Development Banking and Financial Institutions Act during Senate floor debate.
Share
More from Harris Wofford
it has been nearly 40 years since I first met Martin Luther King and went to work with him off and on in Alabama and in the South. Martin Luther King was then leading what he named the Montgomery Improvement Association, a citizens' effort…
a few years ago, in the moving South African theater piece ``Sarafina,'' the schoolchildren of Soweto sang a joyous hymn to what seemed like a distant future called Freedom Is Coming Tomorrow. But now, that tomorrow has come. Freedom is…
This is the work Pennsylvanians set me to Washington to do, and I am anxious to move the process forward in a bipartisan fashion that seeks to find the highest common ground, not the lowest common denominator. An important factor in…
I believe the action--the last time this Senate voted on the question of ceasing the funding for the Commission was in 1989, when a similar motion was defeated 86 to 11.





