Floor Statements

Madam Speaker, I rise to ay to congratulate the South Johnston High School Trojans football team in Four Oaks, North Carolina for a historic season and trip to the 3-AA North

Carolina High School Athletic Association State Championship football game this past Saturday, December 12, 2009 at Kenan Stadium in Chapel Hill. South Johnston finished the season with an impressive record of 14 and 2 and were the 2009 Conference and 3-AA Regional Champions. This is the third conference title for South Johnston, the first ever appearance in the third round of Regionals and the school's first trip to the State Finals.

I am extremely proud of the dedication, determination, sportsmanship, and discipline of this talented football team. The members of the 2009 team are to be commended for their drive and perseverance. They include Dee Williams, Brandon Bussiere, Willie Jefferson, Brandon Beasley, Dan Atkins, Alex Barbour, Vivek Patel, Justin Sanders, Jim Abdalla, Anthony Crumity, Shawn Williams, Blake Ingram, Shaun Write, Josh Barbour, Matt McClendon, Rohelio Morales, Mitch McLamb, Marcus Faison, Aaron Anderson, Unek Lloyd, Matt Stanley, RonJonek Gill, Dan Stanley, John Jefferies, Javonte Burns, Woody Thornton, Johntavious Chrisp, Jon Farmer, Tyler Benson, Devon Smith, Pat Dunigan, Stacy Thornton, Mike Purvis, Erasto Simmons, Jovonte Cox, Trevor Beasley, Adam Hockaday, and Tyvon Small.

South Johnston Head Coach Joe Salas and his great team of assistant coaches worked tirelessly behind the scenes and are the architects of the behind the team's success.

I am proud to have the honor of representing this outstanding high school and I ask my colleagues to join me today in honoring these fine young athletes.

Madam Speaker, I rise today to congratulate the Harnett Central High School Trojans football team in Angier, North Carolina, for their historic season and trip to the North Carolina High School Athletic Association State Championship football game this past Saturday, December 12, 2009 at Carter Finley Stadium in Raleigh. Saturday marked the first time any Harnett County school has made it to the state championship game since school district consolidation in the 1970s. Harnett Central also made history this year by finishing the season with a 15 and 1 record, a record made more impressive because this is the first year the team has played in the 4-A conference.

I am extremely proud of the dedication, determination, sportsmanship, and discipline of this talented football team and its coaches, and they are to be commended for their drive and perseverance. The 2009 team members include Anthony Johnson, A.J. Hayes, Jarrod Spears, Mike Murray, Jeremy Wells, Logan Klauka, Ocean Stroud, Torin Walker, Tate Wheelin, Brian Taylor, Jevon Morris, Nick Corbin, Brian Baker, Lemonte Taylor, Dalan Snow, Jacob Hyde, Shag Long, Kendrick Rodgers, Rico Currie, Michael Vahue, Todd Hodges, Donavon General, Dylan Kinton, Joseph Diniz, Ethan Gardner, Eric Upchurch, Jared Crumpler, Travis Jones, Alan Swan, Landon Ellington, Zack Avrette, Carlos Salas, Quincy Wells-Johnson, Alvin McLean, Frank Vetere, Wesely Smith, Johnathon Hill, Caleb Baker, Max Ramirez, Abiye Fubara, Jordan Keith, Tim McClain, Darius Forte, and Brandon McLean.

Head Coach Marc Morris and his great team of assistant coaches, including Wayne Stewart, Bill Wyrick, Travis Gaster, Clayton Williams, Joseph Capps, Kenny Jones, Scott Riley, Rodney Ellis, worked tirelessly behind the scenes all season and are backbone of the team's success.

I am proud to have the honor of representing this outstanding high school and I ask my colleagues to join me today in honoring these fine young athletes.

Madam Speaker, I am pleased once again to rise in support of H.R. 3326 the Fiscal Year 2010 Defense Appropriations Act. In addition to making important investments to keep the American people safe, strengthen our military, and support our troops, this amended bill makes sure that the American economy is safe, strengthens our recovery, and supports those in need.

As a veteran of the U.S. Army, and the representative of Fort Bragg and Pope Air Force Base, I am proud of our troops who serve our country, and pleased that we are completing our work on funding their efforts in Iraq and Afghanistan, meeting their equipment needs at home, and fulfilling our commitment to our troops and their families. I spoke about many of those provisions when this bill first passed in July.

This amended bill also keeps our commitment to the working men and women of America who deserve support in this economic downturn. As the representative of a state with one of the highest unemployment rates in the nation, I am proud that this bill will provide a degree of economic security for workers who are struggling during this holiday season. Extending benefits for folks who are having trouble finding a job is the right thing to do for families and our recovering economy. The temporary support in this bill will help North Carolinians maintain health care coverage and pay their bills while they get back on their feet and find their next job opportunity.

This bill continues our efforts to get the economy back on track and create jobs. The families who receive extended benefits will be putting money right back into our local economy--buying groceries, filling their cars with gas, and making their mortgage payments on time. The bill also extends improvements to Small Business Administration guaranteed loans so that small businesses can secure the financing they need in these tight economic times. Small business are a major engine of our economy, and are responsible for almost all year-over-year job growth. We must make sure they can get the funding they need to create jobs so we can reduce unemployment and restore our economy.

Madam Speaker, this bill already made sure our Armed forces have the support they need to protect the American people. The amendments we are voting on today also make sure we preserve our economic safety net and promote American prosperity.

I urge my colleagues to join me in support of H.R. 3326.

Madam Speaker, I rise in support of H.R. 2847, the Jobs for Main Street Act. Over the last year, our economy has sustained serious damage. Although recent signs are pointing to an upswing in the overall economy, millions of Americans are jobless or have seen their hours drastically cut. The national unemployment rate is 10 percent while in my State of North Carolina the figure is 11 percent statewide, and reaches as high as 13 percent in parts of my district. Action is needed to help solve this crisis.

H.R. 2847 builds on earlier actions taken by Congress to create jobs and get Americans back to work. This bill provides $48.3 billion for highway construction, mass transit, and other infrastructure projects. Our Nation's infrastructure is in need of a serious update, and repairing our highways, renovating our schools, building new mass transit, and improving our airports and water and sewer facilities provides vitally needed jobs to Americans across the country. This bill also extends authorization for highway, transit, and safety funding, the Safe, Accountable, Flexible, Efficient Transportation Equity Act (SAFETEA-LU) through September of 2010. H.R. 2847 is a timely bill and gets funding in place for infrastructure projects that can start with the spring construction season.

I would like to thank Chairman Rangel, and Speaker Pelosi, for their work to make Qualified School Construction Bonds more effective in this bill. I worked with Chairman Rangel to create these bonds to put the Federal Government in partnership with local schools to meet their needs and help create jobs. Where these bonds have been issued, they are having a great impact on our economy and our communities. However, contrary to the intentions of the bill, only 15 percent of the 2009 QSCB bond allocations have been used to date. This bill allows State or local governments who issue QSCBs or Qualified Zone Academy Bonds to choose a direct payment to cover the interest they would otherwise have to fund themselves, at no additional cost to the Federal Government since the payment is equal to the tax credit that would otherwise be received by the investor. As I have mentioned before, investing in school construction and modernization is one of the best ways to help Main Street, create jobs, and address pressing national needs. I am pleased that we were able to make this change in the bill to bring funds quickly to our local schools and communities.

H.R. 2847 also provides $26.7 billion in aid for State and local governments. These funds are used to retain police, firefighters, teachers, and other workers who would otherwise lose their jobs due to State and local revenue shortfalls. This bill also provides assistance for those struggling the most in today's economy by extending the emergency unemployment benefits initiative for six months and the COBRA health insurance subsidy for an additional six months. H.R. 2847 includes $26.1 billion in tax credits for other assistance initiatives like the Child Care Tax Credit and Social Security legal assistance. Finally, H.R. 2847 targets small businesses, the economic engines that create the majority of new jobs, by extending funds for the Small Business Administration to continue affordable long-term loans for new startups.

Not only does this bill create jobs and boost the economy, it does so in a fiscally responsible manner. It includes the previously House- passed PAYGO language and would be paid for in part by savings from the Troubled Asset Relief Program, TARP. It's time for Wall Street to help shoulder some of the burden on Main Street. I support strong job creation measures and I support H.R. 2847. I urge my colleagues to join me in voting for its passage.

Madam Chair, I rise in support of H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009.

The chaos that began last year on Wall Street has cost the country billions of dollars, rippled throughout the economy, and threatened to topple our entire financial system. Strong measures are required to address such a breakdown, and H.R. 4173 delivers a comprehensive set of financial regulations that increase accountability and oversight for Wall Street and much of America's financial sector.

Earlier this year we saw the widespread damage that can occur when institutions like AIG or Lehman Brothers fail. This bill makes sure the taxpayer is not responsible for bailing out such firms, by establishing a process for dismantling failing financial institutions. By creating a new Systemic Dissolution Fund, large Wall Street firms will be in charge of paying the cost for risks they create instead of taxpayers. In addition, a Financial Stability Council will be created to identify and regulate financial institutions that are so large or interconnected that they pose a system risk to the economy as a whole. We must avoid the problems posed by firms that are ``too big to fail'' in the future.

For years, I have argued that the wild west of speculation in derivatives markets must end. Unregulated speculation may be responsible for wide swings and increases in the price of energy for consumers and feed for farms. This bill would strengthen derivatives market oversight, and for the first time ever, regulate the over-the- counter derivatives market for transactions between dealers and major swap participants. This provision will help prevent entities from driving up the cost of commodities and products and manufacturing risk in the larger economy.

H.R. 4173 also takes a major step forward in consumer protection by creating the Consumer Financial Protection Agency (CFPA). This agency would be devoted to stopping unfair practices and preventing abusive financial products from entering the marketplace. The CFPA would cover a wide range of financial institutions, including non-bank financial institutions, and would impose effective consumer protections for subprime mortgages, overdraft fees, credit card practices, and other financial products.

This bill includes other critical provisions for oversight and streamlining of the financial system like creating a Federal Insurance Office, reforming the credit ratings agencies that assess the value of the many financial products in our economy, and cleans up abusive practices in the mortgage lending industry that contributed to the collapse of the housing market. This regulation is long overdue and will benefit all Americans and businesses that depend on our financial institutions.

I support this reform of our financial industry, and I urge my colleagues to join me in voting for its passage.

I thank the gentleman for yielding, and I thank Mr. Rangel for his hard work on this legislation. I support the bill. The Tax Extenders Act of 2009 reduces taxes by more than $30 billion for individuals and businesses to support small businesses and fuel job growth.

To help create high-tech jobs and support American competitiveness, H.R. 4213 extends the R&D tax credit. North Carolina's growth has been supported by technology and the health and energy industries. The R&D tax credit is vital to this sector of the economy, a sector that spurs innovation and creates new jobs all across America.

H.R. 4213 extends the accelerated cost recovery credit for restaurant and retail improvements, and incentivizes more businesses to grow, retool, modernize, and expand their facilities. To help struggling communities, the bill extends incentives like the new markets tax credits and tax incentives for businesses in designated Empowerment Zones. These provisions are more important than ever. As we help businesses grow, we help grow our workforce and strengthen our economy.

Education is the key to the future for both our young people and those who are retraining for new jobs. The bill protects tuition deductions to help make more students afford school. For individuals, it also extends the deductions for State and local taxes, and property taxes, while also preserving $7 billion in deductions that encourage charitable giving.

I also am pleased to know that this bill extends tax credits for teachers. Even though they are often underpaid, many teachers use their own money. I happen to know. I was a State superintendent of schools in North Carolina for 8 years and worked with this tax credit. I thank the committee for putting it in and keeping it in. It's unfair to ask them to continue year after year to pay. I thank you for doing it. This is a tax credit that helps them contribute to the success of future generations.

I support this legislation and encourage its passage.

Madam Speaker, I rise in strong support of H. Res. 494 as a cosponsor of this important resolution. It honors the 30th Infantry Division of World War II, which included National Guard soldiers from my state of North Carolina, as well as troops from Tennessee. The long history of the 30th Infantry goes back further, though, to include the service of individuals from across the South. Each time they were called to duty, they answered the call with distinction and bravery.

Their service during World War II was particularly exemplary, and I appreciate my colleague Congressman Kissell, whose father served in this division, for bringing forward a resolution to honor their valiant work. The achievements of the 30th Infantry Division were so exemplary that military historians of the day singled it out for distinction as the first among infantry divisions, noting both ``outstanding'' battle service and efficiency that preserved the lives of its members. Eisenhower's chief historian, S.L.A. Marshall, called the 30th the ``most efficient fighting division in Europe.''

Although the 30th Infantry Division was not involved in the actual invasion of Normandy, it engaged in a pivotal battle in Mortain, France that contributed to the Allied victory at Normandy. Serving with bravery and distinction at St. Lo, France, the 30th enabled the Allies to outflank the German Army in what came to be called the St. Lo Breakout. The 30th was also instrumental in breaching the Siegfried Line in October 1944, and the capture of Aachen, Germany. In short, the 30th Division, Old Hickory, played a significant part in our eventual victory over the Axis in WWII.

Today, North Carolina's National Guard soldiers serve with honor in Iraq and Afghanistan, bravely doing their part in defense of our Nation. As they do so, they are part of a valiant heritage that goes back to the founding of our Nation. Each time they are called to service, they do North Carolina and our Nation proud, as they are doing today.

North Carolinians are proud of the service and history of the 30th Infantry Division. We thank soldiers for safeguarding freedom and our way of life, in World War II and today in Afghanistan and Iraq. These courageous soldiers accomplished feats of heroism and bravery which preserved a way of life on two continents. They represent a proud fighting tradition and have earned every accolade we can give.

As a cosponsor of H. Res. 494, I strongly support this legislation, and I urge my colleagues to join me in honoring the soldiers that have and continue to protect our freedom.

Madam Speaker, I rise today to congratulate Deputy Fire Chief Jerry Edison Hockaday on the eve of his retirement after 50 years with the Angier and Black River Fire Department in Angier, North Carolina.

Mr. Hockaday was born on May 28, 1941 and joined the Angier and Black river fire Department on January 1, 1960 when he was just 20 years old. He quickly rose through the ranks and has been the Deputy Fire Chief for the last ten years. In his 50 years with the Angier and Black Fire Department, he has responded to fires, auto accidents, hurricanes, tornadoes, floods, electrical storms and other various rescue situations. He has shared his knowledge with young firefighters, many of whom have continued on to become officers with the department or other professionals with the fire service. Jerry is a tireless servant of the community and the Angier and Black River Fire District has been fortunate to have him.

I know how important it is to have firefighters ready for action with the training and resources they need. The Angier and Black River Fire Department is part of a vast network of fire officers and other public safety personnel who devote their lives to protecting their communities and responding to crisis situations. When a person dials 9-1-1 in an emergency, the phone doesn't ring in Washington, D.C., it rings right here in our community. I served on the House Committee on Homeland Security from its inception until this past year, and one of my highest priorities on the committee was to make sure the Department of Homeland Security works as closely as possible with local emergency management officials and first responders. The responsibility of the Federal government must be to protect the American people, and a large part of that is supporting local fire departments in their work.

The job of a fireman is not easy, and Jerry risked his life everyday for his neighbors and his community. He is a true American hero. I am proud to have Jerry in my community, and I ask my colleagues to join in congratulating his bravery and half a decade of diligent service.

I thank the gentleman for yielding.

And since I have been in this Congress, I have worked to extend the benefits with estate planning and raise exemptions for the last 12 years. The estate tax was never meant to affect the vast majority of Americans. Under H.R. 4154, only 25 of every 10,000 estates would be subject to estate tax.

By extending current law, this bill strikes a balance. It provides certainty for estate planning and prevents tens of thousand of estates from being subject to taxation while also being fiscally responsible.

Critically, this bill protects our small businesses and farmers. In my district in North Carolina, there are plenty of farmers that are ``land rich and cash poor'' that may be affected by the reach of the estate tax because their land and equipment are worth quite a bit, but their business may be barely getting by.

Many small businesses that form the backbone of our economy are the engine of job creation, and they face the same dilemma. Rather than worrying about the estate tax, these businesses need to focus on the growth and expansion that can improve our economy. This legislation will allow them to do just that.

Only 100 small businesses and farm estates would owe any estate tax in 2010 under these rules, according to the numbers I get.

Now, as a former small businesses owner, I also know that that provides certainty that is crucial for business planning. This is equally true for individuals who need to plan for the future of themselves, their children and their grandchildren. We should encourage the dreams of Americans who want to build wealth that they can leave to their children and grandchildren, but also it needs to be fair.

America is the land of equality of opportunity; and by making sure that 99.8 percent of estates are exempt from estate tax while encouraging that the fewer than 8,000 pay, this bill provides and preserves opportunity for all.

I encourage my colleagues to vote for it.

Mr. Speaker, I thank the gentleman for yielding time and for this bill.

You know, folks, Medicare is a vital lifeline for our seniors, but it's worthless if doctors can't afford to see Medicare patients. Seniors should be able to see the doctors they prefer, and fixing the doctor payment system will make sure that they have access to high quality care from people that they trust.

Countless doctors in my district have told me that they're happy to treat seniors, but they risk going out of business with current Medicare payments. We must make sure that they continue to be able to treat patients.

By fixing the doctor payment issue and including PAYGO, Congress is ending budget gimmicks and the reckless borrow-and-spend policies of the last decade.

I strongly support this bill, and I urge my colleagues to join me in strong support of our seniors and the physicians who keep them healthy.

Mr. Speaker, this bill deserves every Member's support.

Mr. Speaker, I rise today in strong support of H.R. 3961, the Medicare Physician Payment Reform Act of 2009.

H.R. 3961 repeals the irresponsible budget gimmicks of the last decade, replacing a scheduled 21 percent fee reduction for doctors who accept Medicare with a more rational and stable system. The new payment formula will support primary care and encourage coordination among providers, while holding physicians accountable for spending growth. H.R. 3961 builds on the historic health insurance reform bill the House passed two weeks ago, which will lower premiums, extend the solvency of Medicare by 5 years, and close the ``donut hole'' drug coverage gap.

Medicare is a vital lifeline for seniors, but it is worthless if doctors cannot afford to see Medicare patients. Seniors should be able to see the doctors they prefer, and fixing the doctor payment system will make sure they have access to high-quality care from people they trust. Countless doctors in my district have told me that they are happy to treat seniors, but that they risk going out of business with current Medicare payments. We must make sure that they continue to be able to provide high-quality health care to Medicare beneficiaries.

H.R. 3961 will replace the flawed physician payment system that continually threatens access to care for our Nation's elderly and disabled patients. Since TRICARE rates are tied to Medicare, the current system also threatens the health of our military families covered by TRICARE. Fixing the system will provide physician practices with financial stability and predictability and enable them to invest in the infrastructure needed to build a health care system for the 21st century.

Without Medicare physician payment reform, the goals of health system reform will remain out of reach. Another short-term ``patch'' would only increase the severity of future cuts and raise the costs of permanently repealing the sustainable growth rate. Medicine can no longer support the sort of short-term patches that have been used in the past to postpone true payment reform. By fixing the doctor payment issue and including PAYGO, Congress is replacing the reckless borrow- and-spend policies of the last decade with responsible and reliable budget planning.

Mr. Speaker, H.R. 3961 is fiscally responsible and will improve the health and health care of people across my district, North Carolina, and the country. I urge my colleagues to join me in strong support of our seniors and the physicians who keep them healthy.

Mr. Speaker, I rise today in support of H.R. 3962, the Affordable Health Care for America Act. This bill is essential to improving North Carolina's economy and will lower health care costs for millions of Americans. I am committed to enacting comprehensive health care reform that contains costs, protects patient choice, and assures quality, affordable care for all Americans. As the only North Carolina Member on the House Ways and Means Committee, a Member of the Budget Committee, and a supporter of fiscal responsibility, I am pleased that this legislation is fully paid for and according to the Congressional Budget Office will reduce the deficit both in the short and long term.

Working families and small businesses are facing crushing health care costs that threaten their lives and livelihoods. Health care costs will reach $2.5 trillion in 2009, more than we are expected to spend on the wars in Iraq and Afghanistan this decade. Families already have experienced health care costs doubling in the past 10 years. Without reform, health care costs will skyrocket in the next decade. Independent analysis has predicted that family premiums will be $1,000 to $9,000 lower in 2016 under this legislation compared to what they would be without reform.

H.R. 3962 will improve health care for seniors in Medicare by reducing costs and extending Medicare's solvency. This bill brings an end to the prescription drug ``donut hole'' which has unfairly burdened the pocketbooks of seniors, decreasing out-of-pocket costs by $500 immediately, cutting copayments in half in the short term, and fully closing it over the next 10 years. H.R. 3962 also provides better and more timely payments to doctors who accept Medicare and attacks waste, fraud and abuse in Medicare ensuring more money goes to benefits and improving senior health and quality of life.

Too many people have their choices limited by insurance companies and financial decisions, rather than by patients and doctors. H.R. 3962 will expand individual choice and prevent insurers from denying benefits that doctors recommend. This bill will place caps on out-of- pocket health expenses, and remove the ability of insurance companies to place annual or lifetime limits on coverage. Choice will be reinforced with one-stop comparison insurance shopping through a health insurance exchange.

During this economic downturn, H.R. 3962 will help small businesses address the crushing costs of health care. In particular, this legislation will curb skyrocketing health care costs and provides greater access to health care for small businesses. Companies that offer their employees health insurance coverage will get a tax credit for two years to help them transition to, or continue, providing health benefits to their employees--paying up to 50 percent of their costs.

Mr. Speaker, as this bill moves to the Senate and then to conference, I am hopeful that we can make sure that H.R. 3962 does not unintentionally burden small businesses who employ seasonal workers. While tax incentives in the bill are designed to help small employers cover health care expenses, there are no allowances for seasonal workers common to the agricultural industry. Workers who are only employed for a short time by an employer should be able to get health insurance, but there must be provisions to ensure that this is affordable and not burdensome to their temporary employer. As we work through the process of passing a final bill to be sent to the President, I hope leadership will work with me to resolve this issue.

H.R. 3962 is fiscally responsible and will improve the health and health care of people across my district, North Carolina, and the country. I am pleased to be able to vote in favor of this historic legislation.

Mr. Speaker, I rise in support of the Senate Amendment to H.R. 3548. This bill combines vital assistance to unemployed Americans and includes measures to help get our economy back on track.

Despite some significant indicators that our economy is beginning to recover, far too many people are looking for work. In my state of North Carolina, unemployment has risen to 10.8 percent, with many counties experiencing rates above 15 percent. This bill will extend unemployment insurance to provide critical assistance for these Americans who are struggling the most. Unemployment insurance would be extended for 14 additional weeks, with an extra six weeks for states like North Carolina with unemployment levels over 8.5 percent.

Other provisions in this bill are critical to creating new job opportunities and helping millions of Americans keep the jobs they have. This bill would extend the First-Time Homebuyers Tax Credit through the end of April 2010 and create a new credit of $6,500 for homeowners who have lived in their current residence for at least five years. The housing industry has been hit hard during this recession, and creating an incentive for homebuyers to rejoin the market can lessen the drag that this is creating on the economy as a whole. The extended homebuyer tax credit not only helps put American families in new homes, but it benefits our flagging housing industry and the millions of jobs throughout this sector whether it is real estate, construction, or the building supply chain.

As a Member of the House Committee on Ways and Means, I am also proud that this bill expands the carryback of net operating losses that was included in the American Recovery and Reinvestment Act. The Net Operating Loss provisions in this bill will help many businesses offset past losses and reduce their tax liability. Many American businesses are continuing to struggle in the face of our sluggish economy. The Five-Year Carryback of Net Operating Losses results in more capital for these businesses, allowing them to get healthy, contribute to the growth of our economy, and create more jobs.

I applaud the Senate for sending this timely bill back to the House for a vote, as we move forward on growing our economy and creating jobs for Americans. I support the Senate amendment to H.R. 3548, and I urge my colleagues to join me in voting in favor of it.

Madam Speaker, I rise today to congratulate Chad and April Culver on the birth of their daughter, Ava Suzanne Culver. Ava was born yesterday, Wednesday, November 4, 2009. She weighed 7 pounds and 14 ounces and measured 22 inches long. My wife Faye joins me in wishing Chad and April, and Avery's grandparents Durwood and Vickie Stephenson, great happiness upon this new addition to their family.

As the father of three, I know the joy and pride that Chad and April feel at this special time. Children remind us of the incredible miracle of life, and they keep us young at heart. Every day they show us a new way to view the world. I know the Culvers look forward to the changes and challenges that their new daughter will bring to their lives while taking pleasure in the many rewards they are sure to receive as they watch Ava grow.

I welcome young Ava into the world and wish Chad and April all the best.

I thank the gentleman for yielding.

Mr. Speaker, across this country people are suffering. In my State of North Carolina, unemployment has been in double digits for several months. Economists tell us that the economy is turning around, but folks at home don't feel it yet.

This bill continues Congress' critical efforts to restore the economy and put our people back to work. Fixing the economy and creating jobs needs to be our top priority in this economic downturn.

This bill helps folks who are out of work in two ways. First, it extends the safety net of unemployment insurance to those who are struggling the most. This is critical to help people put food on their table and keep their lives together until they can find new employment.

Second, it supports the struggling companies which are trying to create jobs. The tax credits in this bill will help restore the health of businesses so they can get healthy again, contribute to the growth of this economy, and put our people back to work.

I applaud the Senate for their work in joining these two goals and moving it forward. I thank my colleagues for their work and urge my colleagues to vote for H.R. 3548.

Mr. Chair, I rise in support of H.R. 3854, the Small Business Financing and Investment Act of 2009.

While our economy has begun to show some signs of rebounding from the recession, there is still a long way to go before we have returned to full strength. Far too many Americans are looking for work and the unemployment rate remains high, reaching into the double digits in my State of North Carolina. Many businesses are finding it difficult to obtain the credit they need to operate. H.R. 3854 will benefit the small businesses that form the backbone of our economy and serve as our biggest job creators.

H.R. 3854 contains several provisions that will help finance new small businesses and allow them access to more capital. This bill supports public and private partnerships that invest capital into new startups, and makes microloans more affordable for budding entrepreneurs. For existing small businesses, this bill improves the Small Business Administration's 7(a) loan initiative by raising loan amounts and maintaining the fee reductions and guarantee increases that were included in the American Recovery and Reinvestment Act. I am also pleased that his bill contains provisions that help rural businesses and veteran-owned businesses obtain loans. H.R. 3854 is expected to support $44 billion in small business lending, which could create or save over 1 million jobs.

I support stronger lending tools for our nation's small businesses and I support the Small Business Financing and Investment Act of 2009. I urge my colleagues to join me in voting for its passage.