John Thune: “Mr. Speaker, S. 388, a measure drafted and introduced by Senator Max Cleland, is a commonsense approach to applying the…”

“Mr. Speaker, S. 388, a measure drafted and introduced by Senator Max Cleland, is a commonsense approach to applying the principle of preventive care when coping with natural disasters. S. 388 is substantially identical to H.R. 818, the Disaster Mitigation Act of 1999, which passed the House on March 2 of this year. It is part of the administration's budget request and has substantial bipartisan and bicameral support. Since 1953, the Small Business Administration has administered the disaster loan program authorized by Section 7(b) of the Small Business Act. This program provides loans to help small businesses to rebuild after natural disasters. In past years the loan program has spent billions of dollars helping small businesses and homeowners recover from natural disasters.”