Political Quotes

“Mr. Chairman, the record should indicate right at the outset that the provisions that we have built into the current legislation having to do with small business have reached the highest possible approval by the advocate of the Small Business Administration, the Justice Department itself, and most importantly for this debate, of the Bankruptcy Commission on whom we relied for this extensive comprehensive review that they finished a few years back. So we start off with a creditable small business set of provisions which now the gentleman, if this amendment should be adopted, would absolutely wreck. Beyond that, one can imagine that every case that came under Title 11, as the gentleman proposes in his amendment, would first have to be scrutinized to see if five or more jobs would or could be lost, and we would never get to the first event in a bankruptcy situation before we had had time to litigate the number of jobs. What if someone contends there are only four affected or others say none would be affected? That entire set of circumstances would have to be litigated. It is a monstrous scenario of additional litigation proposed in a situation where we have already structured the provisions in such a way to have met the approval of everybody who looks at the small business provisions of our bill.”