Patrick Leahy said "If you had a car dealer that grossed that amount of money, considering the fact they often make only $100 or $200 on a car, although the cars sell at $30,000 or $40,000. By the same token, the collection unit might be 20 people and they get several billions of dollars. The bottom line: The percentage of what is going to be the net profits is considerably different. What this is going to affect--which is why I use the Senator from Delaware and his definition of a small business in the bill--these are the same people, in most likelihood, the mom-and-pop store for whom $3,000 or $4,000 may mean making the mortgage payment." @ PoliticalQuotes.com

On the recordMarch 7, 2001

If you had a car dealer that grossed that amount of money, considering the fact they often make only $100 or $200 on a car, although the cars sell at $30,000 or $40,000. By the same token, the collection unit might be 20 people and they get several billions of dollars. The bottom line: The percentage of what is going to be the net profits is considerably different. What this is going to affect--which is why I use the Senator from Delaware and his definition of a small business in the bill--these are the same people, in most likelihood, the mom-and-pop store for whom $3,000 or $4,000 may mean making the mortgage payment.

Said by

Patrick Leahy

Democratic · Vermont

Source

govinfo.gov

Editor's note · Context

Discussing the impact of financial definitions on small businesses during a Senate debate.

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