Floor Statements

Madam Speaker, I claim the time in opposition to the motion to recommit.

Madam Speaker, I understand that the gentlelady is trying to make a point of climate change reform. What I would hope is that you will engage in a constructive dialogue on our long-term energy challenges. I understand the point that you're trying to make, and I will invite you to engage in a constructive dialogue when it comes to climate change reform.

The legislation that you're referring to will provide assistance to small businesses and also small manufacturers as we transition to a green economy, and in fact, the bill that we have before us today creates a green entrepreneurs training program in the sectors of energy efficiency, clean technology. Also, several amendments adopted today will help promote energy efficiency under the Polis amendment. The Women's Business Center program will provide such a system for women- owned firms. The manager's amendment includes several provisions that will assist firms to adopt processes and techniques that will reduce their use of energy.

And, finally, last Congress we passed an energy bill which includes a wide range of provisions that encourage small businesses to become more energy efficient. So we are calibrating the effect that any legislation regarding climate change will have on small businesses, and that is why we are addressing some of those issues in the bill that we have here today.

I applaud the gentlelady's intent to provide more assistance to small businesses, and I accept her motion to recommit.

I yield back the balance of my time.

Madam Speaker, pursuant to the instructions of the House in the motion to recommit, I report the bill, H.R. 2352, back to the House with an amendment.

Madam Speaker, on that I demand the yeas and nays.

Mr. Speaker, I ask unanimous consent that the Clerk be authorized to correct section numbers, punctuation, and cross- references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 2352.

Mr. Chair, across the country hundreds of thousands of hard-working families have fallen victim to predatory lending. Poor and minority communities have been targeted. Today, we are seeing the results. The foreclosure rate is the highest in a quarter century, and many others are burdened by debt.

That's why H.R. 1728 is needed. It enacts simple reforms that will level the playing field for consumers. The Mortgage Reform and Anti- Predatory Lending Act will help the nation move toward recovery. It will give consumers the confidence to purchase a new home by ensuring predatory lending practices become a thing of the past. The bill would make it illegal for lenders to make loans that homeowners cannot reasonably be expected to repay.

It not only sets guidelines for fair lending, but takes strides to empower the borrower. For years, I have said that one of the most effective ways to stop predatory lending is to give consumers knowledge. This legislation includes my initiative to provide increased access and information on the benefits of home inspections--and give homebuyers a leg up when dealing with lenders.

Last, but not least, when we think of homes going into foreclosure, we cannot forget those who live in apartment buildings. In New York, as in many urban areas, more than half of our city rents. And today, as many as 90,000 New Yorkers reside in buildings with debts too high to maintain. These families, at no fault of their own, could be out on the street if their buildings go into foreclosure.

The amendment I have proposed would protect tenants and keep multifamily buildings out of foreclosure. It establishes a new program to stabilize troubled buildings by refinancing them or facilitating their transfer to new responsible owners.

I urge you to protect renters, to protect homeowners, and to put a stop to the abusive lending practices that have hurt so many American families. I urge a ``yes'' vote.

Mr. Speaker, on rollcall No. 187 I was held up in a meeting and unable to vote. Had I been present, I would have voted ``aye.''

I thank the gentleman for yielding.

Mr. Speaker, I rise in support of this resolution.

Today, the House is considering a resolution that many consider to be routine business with little effect outside of this Chamber. However, I believe this resolution will provide Congress with the resources we need to do the people's work.

As we get to work, our main concerns need to be creating jobs and turning the economy around. An important component of this will be meeting the needs of small businesses so they can stay afloat, grow, and contribute to economic recovery.

In good times, as well as bad, small businesses are the backbone of our economy. They create 60 to 80 percent of all new jobs. During economic downturns, like the one we are in now, they are even more important. Small firms generate the innovative ideas and new services that spur job growth. For example, following the recession of the mid- 1990s, small firms created 3.8 million new jobs. During economic downswings, many Americans venture out and start their own small businesses. For instance, in the 1990s, 25 percent of laid-off managers over the age of 40 went on to start their own firms.

This kind of determination is the hallmark of the American entrepreneurial spirit. It has led us out of previous recessions, and it will lead us out of this one as well. However, for that to happen, we need to make the needs of our small businesses a priority.

The resolution that we are voting on today will provide Congress the resources to undertake important work on behalf of small businesses. One of our first steps needs to be unfreezing the credit market so small firms can access the capital they need to expand, grow, and create jobs. We must also ensure small businesses receive investments that allow them to remain technological pioneers. Startup entrepreneurs often produce the new ideas that spark job growth and can even launch a whole new industry.

Small firms will also play a key role in rebuilding our Nation's infrastructure. The Economic Recovery Act that was enacted earlier this year will mean an explosion of new public work projects. Small businesses are well positioned to do this work, but only if we ensure that they can compete for their fair share of these new contracts.

Finally, a host of kitchen table issues very directly affect small business owners. As our Nation takes up matters like tax policy, health care, and energy, the needs of entrepreneurs must be part of the discussion.

Mr. Speaker, since this economic downturn started, our committee has heard from a flood of small businesses calling for assistance to help them weather the current storm. This resolution will mean that we will have the ability to help as many entrepreneurs as possible. I am confident that, given the right tools, these same entrepreneurs will once again lead our Nation's recovery, creating opportunity in the face of adversity.

For that reason, I urge a ``yes'' vote.

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 1541) to provide for an additional temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958, and for other purposes.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on the bill under consideration.

Mr. Speaker, I yield myself such time as I might consume.

As our Nation responds to the current economic downturn, small businesses will be central to our recovery. They are the engine of our economy, producing 60 to 80 percent of new jobs, and their role is even more important during recessions.

The fact is, when the job market is tight, many Americans venture out, launch their own enterprises. Following the recession of the early 1990s, small firms generated 3.8 million new positions for American workers, a number that surpassed big business expansion by almost half a million.

That kind of resilience, in the face of economic uncertainty, is a testament to the strength of our Nation. Times may be tough, but the American entrepreneurial spirit is tougher. Today, the House is considering legislation that will extend programs at the Small Business Administration into July.

These programs play a pivotal role in our economy. The SBA guarantees loans that allow new ventures to start and existing firms to grow. It provides counseling and technical know-how to entrepreneurs, and it helps ensure that small firms can obtain their fair share of Federal contracts, something that will be more important as the Economic Recovery Act generates $111 billion worth of new public works projects.

Extending these programs is important, but we must not lose sight of a larger goal. Later this Congress we will pass legislation to modernize the SBA and change the agency's culture. In these difficult economic times, we will need an SBA that can respond effectively. This will require extensive reforms.

Already in this Congress we passed the most significant update to the agency in a decade. With the economic recovery legislation, we made SBA bank loans more affordable for entrepreneurs. We increased the amount of a loan that the SBA can back, further opening up affordable credit for small business owners.

We established a new Small Business Stabilization Financing Program at the SBA, which will provide short-term loans to businesses struggling to meet their existing obligations. We gave the SBA tools it needs to begin unfreezing the secondary market for small business loans.

By reforming and updating the Small Business Investment Company program, we help channel new venture capital to small firms.

Taken together, all of these initiatives will yield $21 billion in new investment and lending for small businesses and save or create 600,000 new jobs.

Earlier this week, President Obama moved to implement many of these changes. I applaud the administration for working quickly. However, this is just the start.

Later this year, the committee will draft a comprehensive rewrite of the SBA. If there has ever been a time for a strong, effective SBA, that time is now. It will be the responsibility of every Member in this House to make sure that we reauthorize these programs properly so the SBA can help Main Street businesses weather this recession and contribute to our economy.

The extension we are voting on today will give us the time to hear from all our colleagues and interested parties as we develop this legislation. I urge my colleagues to vote ``yes.''

I reserve the balance of my time.

Mr. Speaker, I ask for a ``yes'' vote.

I yield back the balance of my time.

I thank the gentleman for yielding.

Mr. Speaker, today, small businesses are finally getting their stimulus. It is about time. This act marks the first step towards economic recovery for our country's entrepreneurs. In fact, this bill will result in nearly $21 billion in new investments and lending for small firms and the creation of more than 630,000 new jobs.

In terms of accessing loans from the Small Business Administration, the legislation clearly puts borrower first. It does this by mandating that no funds provided for fee relief can go to lenders unless the SBA has reduced fees charged to borrowers to the maximum extent possible.

Madam Speaker, in accordance with Clause 2 of Rule XI of the Rules of the House, please find the Rules and Procedures approved by the House Committee on Small Business, on January 28, 2009, for the 111th Congress:

Rules and Procedures Adopted by the Committee on Small Business, U.S.

House of Representatives, 111th Congress, 2009-2010

1. general provisions

The Rules of the House of Representatives, and in

particular the committee rules enumerated in rule XI, are the

rules of the Committee on Small Business to the extent

applicable and by this reference are incorporated. Each

subcommittee of the Committee on Small Business (hereinafter

referred to as the ``committee'') is a part of the committee

and is subject to the authority and direction of the

committee, and to its rules to the extent applicable.

2. referral of bills by chairwoman

Unless retained for consideration by the committee, all

legislation and other matters referred to the committee shall

be referred by the Chairwoman as she deems appropriate to the

subcommittee of appropriate jurisdiction within 14 days.

Where the subject matter of the referral involves the

jurisdiction of more than one subcommittee or does not fall

within any previously assigned jurisdictions, the Chairwoman

shall refer the matter, as she may deem advisable.

In referring any measure or matter to a subcommittee, the

Chairwoman may specify a date by which the subcommittee shall

report thereon to the subcommittee. The Chairwoman may also

discharge a subcommittee from consideration of any measure or

matter referred to a subcommittee.

3. date of meeting

The regular meeting date of the committee shall be the

second Thursday of every month when the House is in session.

A regular meeting of the committee may be dispensed with if,

in the judgment of the Chairwoman, there is no need for the

meeting. Additional meetings may be called by the Chairwoman

as she may deem necessary or at the request of a majority of

the members of the committee in accordance with clause 2(c)

of rule XI of the House.

At least 3 days notice of such an additional meeting shall

be given unless the Chairwoman determines that there is good

cause to call the meeting on less notice.

The determination of the business to be considered at each

meeting shall be made by the Chairwoman subject to clause

2(c) of rule XI of the House.

A regularly scheduled meeting need not be held if there is

no business to be considered or, upon at least 3 days notice,

it may be set for a different date.

4. announcement of hearings

Unless the Chairwoman, with the concurrence of the Ranking

Minority Member, or the committee by majority vote,

determines that there is good cause to begin a hearing at an

earlier date, public announcement shall be made of the date,

place and subject matter of any hearing to be conducted by

the committee at least 7 calendar days before the

commencement of that hearing.

After announcement of a hearing, the committee shall make

available as soon as practicable to all Members of the

committee a tentative witness list and to the extent

practicable a memorandum explaining the subject matter of the

hearing (including relevant legislative reports and other

necessary material). In addition, the Chairwoman shall make

available as soon as practicable to the Members of the

committee any official reports from departments and agencies

on the subject matter as they are received.

5. meetings and hearings open to the public

(A) Meetings

Each meeting of the committee or its subcommittees for the

transaction of business, including the markup of legislation,

shall be open to the public, including to radio, television

and still photography coverage, except as provided by clause

4 of rule XI of the House, except when the committee or

subcommittee, in open session and with a majority present,

determines by record vote that all or part of the remainder

of the meeting on that day shall be closed to the public

because disclosure of matters to be considered would endanger

national security, would compromise sensitive law enforcement

information, or would tend to defame, degrade or incriminate

any person or otherwise would violate any law or rule of the

House; Provided, however, that no person other than members

of the committee, and such congressional staff and such

executive branch representatives as they may authorize, shall

be present in any business meeting or markup session which

has been closed to the public.

(B) Hearings

Each hearing conducted by the committee or its

subcommittees shall be open to the public, including radio,

television and still photography coverage, except when the

committee or subcommittee, in open session and with a

majority present, determines by record vote that all or part

of the remainder of the hearing on that day shall be closed

to the public because disclosure of testimony, evidence or

other matters to be considered would endanger the national

security, would compromise sensitive law enforcement

information, or would violate any law or rule of the House;

Provided, however, that the committee or subcommittee may by

the same procedure vote to close one subsequent day of

hearings. Notwithstanding the requirements of the preceding

sentence, a majority of those present, there being in

attendance the requisite number required under the rules of

the committee to be present for the purpose of taking

testimony, (i) may vote to close the hearing for the sole

purpose of discussing whether testimony or evidence to be

received would endanger the national security, would

compromise sensitive law enforcement information, or violate

clause 2(k)(5) of rule XI of the House; or (ii) may vote to

close the hearing, as provided in clause 2(k)(5) of rule XI

of the House.

All members of the committee shall be able to participate

in any subcommittee hearing.

No member of the House may be excluded from non-

participatory attendance at any hearing of the committee or

any subcommittee, unless the House of Representatives shall

by majority vote authorize the committee or subcommittee, for

purposes of a particular series of hearings on a particular

article of legislation or on a particular subject of

investigation, to close its hearing to members by the same

procedures designated for closing hearings to the public.

Additionally, such members who would like to not only attend,

but participate shall notify the Ranking Minority Member and

submit a request in writing to the Chairwoman two days in

advance of such hearing. Such requests shall be subject to

approval of the Chairwoman and the Ranking Member.

6. witnesses

(A) Statement of witnesses

Each witness who is to appear before the committee or

subcommittee shall file with the committee at least two

business days before the day of his or her appearance 75

copies of his or her written statement of proposed testimony.

Each witness shall also submit to the committee a copy of his

or her final prepared statement in an electronic format at

that time.

At least one copy of the statement of each witness shall be

furnished directly to the Ranking Minority Member. In

addition, all witnesses shall be required to submit with

their testimony a curriculum vitae or other statement

describing their education, employment, professional

affiliations and other background information pertinent to

their testimony unless waived by the Chairwoman. Each witness

will complete a disclosure form detailing any contracts or

business that they currently have with the federal

government.

The committee will provide public access to its printed

materials, including the proposed testimony of witnesses, in

electronic form.

(B) Interrogation of witnesses

Whenever any hearing is conducted by the committee or any

subcommittee upon any measure or matter, the minority party

members on the committee shall be entitled, upon request to

the Chairwoman by a majority of those minority members, to

call a witness or witnesses selected by the minority to

testify with respect to that measure or matter. The minority

shall be entitled to a ratio of one-third of the witnesses

testifying. For the purposes of determining this ratio, it

shall not include testifying government officials. The

witnesses requested by the minority shall be invited to

testify by the Chairwoman and must furnish at least one copy

of his or her statement and any supplementary materials

directly to the Chairwoman within two business days before

the day of his or her appearance unless waived by the

Chairwoman.

Except when the committee adopts a motion pursuant to

subdivisions (B) and (C) of clause 2(j)(2) of rule XI of the

rules of the House, committee members may question witnesses

only when they have been recognized by the Chairwoman for

that purpose, and only for a 5-minute period until all

members present have had an opportunity to question a

witness. The Chairwoman and the

Ranking Member shall not be subject to the 5-minute period

limitation. For all other Committee Members, the 5-minute

period for questioning a witness by any one member can be

extended only with the unanimous consent of all members

present. The Chairwoman, followed by the Ranking Minority

Member and all other members alternating between the majority

and minority, shall initiate the questioning of witnesses in

both the full and subcommittee hearings. The order for

questioning by members of each party shall be determined by

the time in which the member arrived at the hearing after the

gavel has been struck, with the first arriving having

priority over members of his or her party. If members arrive

at the same time, then seniority on the committee shall

dictate the order.

In recognizing members to question witnesses, the

Chairwoman may take into consideration the ratio of majority

and minority members present in such a manner as not to

disadvantage the Members of either party. The Chairwoman, in

consultation with the Ranking Minority Member, may decrease

the 5-minute time period in order to accommodate the needs of

all the Members present and the schedule of the witnesses.

7. subpoenas

A subpoena may be authorized and issued by the committee in

the conduct of any investigation or series of investigations

or activities to require the attendance and testimony of such

witness and the production of such books, records,

correspondence, memoranda, papers and documents, as deemed

necessary. Such a subpoena shall be authorized by a majority

vote of the full committee. The requirement that the

authorization of a subpoena require a majority vote may be

waived by the Ranking Minority Member. The Chairwoman may

issue a subpoena, in consultation with the Ranking Minority

Member, when the House is out of session for a period of 3

days or longer.

8. quorum

No measure or recommendation shall be reported unless a

majority of the committee was actually present. For purposes

of taking testimony or receiving evidence, there shall be one

member from the majority and one member from the minority for

the purposes of a quorum. Such requirement may be waived for

field hearings by the Chairwoman. For all other purposes,

one-third of the members (or 11 Members) shall constitute a

quorum.

9. AMENDMENTS DURING MARK-UP

Any amendment offered to any pending legislation before the

committee or subcommittee must be made available in written

form when requested by any member of the committee. If such

amendment is not available in written form when requested,

the Chair shall allow an appropriate period for the provision

thereof.

10. POSTPONEMENT OF PROCEEDINGS

The Chairwoman in consultation with the Ranking Minority

Member may postpone further proceedings when a record vote is

ordered on the question of approving any measure or matter or

adopting an amendment. The Chairwoman may resume proceedings

postponed at any time, but no later than the next meeting

day. In exercising postponement authority, the Chairwoman

shall take all reasonable steps necessary to notify members

on the resumption of proceedings on any postponed recorded

vote. When proceedings resume on a postponed question,

notwithstanding any intervening order for the previous

question, an underlying proposition shall remain subject to

further debate or amendment to the same extent as when the

question was postponed.

11. NUMBER AND JURISDICTION OF SUBCOMMITTEES

There will be five subcommittees as follows:

Subcommittee on Finance and Tax

The Small Business Administration (SBA) Lending and

Investment programs: Section 7(a) loan program, 504 Certified

Development Company program, Small Business Investment

Company program, Disaster Loan Assistance programs, and

Microloan program.

Access to capital and finance issues generally.

Oversight over tax policy and retirement/pension matters

affecting small businesses.

Subcommittee on Contracting and Technology

SBA Contracting programs including the following: Section

8(a) Business Development program, Small Disadvantaged

Business (SDB) certification operated by SBA, Women's

Procurement Program, HUBZone program, Surety Bond program,

Service-disabled veteran procurement, and Section 7(j)

management and technical assistance program.

SBA Technology programs: Small Business Innovation Research

(SBIR) program, Small Business Technology Transfer program.

Oversight of government-wide procurement practices and

programs affecting small businesses.

Oversight of technology and patent issues.

Subcommittee on Regulations and Healthcare

The Regulatory Flexibility Act, the Small Business

Regulatory Enforcement Fairness Act, and the Paperwork

Reduction Act.

SBA's Office of Advocacy, National Ombudsman, and SBA small

business size standards.

Oversight of regulations and regulatory issues that affect

small businesses.

Oversight of healthcare coverage issues.

Oversight over issues affecting small healthcare providers.

Subcommittee on Rural Development, Entrepreneurship and Trade

SBA entrepreneurial development programs: Women's Business

Centers, National Veterans Business Development Corporation,

Small Business Development Centers, SCORE, Drug Free

Workplace program, Office of Women's Business Ownership, and

National Women's Business Council (NWBC)

New Markets Venture Capital (NMVC) program, New Markets Tax

Credit program, BusinessLINC and the Program for Re-

Investment in Micro entrepreneurs.

General oversight of programs targeted toward rural

development and economic growth as well as general federal

government entrepreneurial development programs.

Oversight of agricultural issues.

Oversight of energy issues.

Oversight of trade issues, including SBA's Office of

International Trade.

Subcommittee on Investigations and Oversight

Oversight of SBA Administration, Management, and Agency

Practices.

Oversight of activities by the Office of the Inspector

General at SBA.

Oversight over general issues impacting small businesses.

12. COMMITTEE STAFF

(A) Majority staff

The employees of the committee, except those assigned to

the minority as provided below, shall be appointed and

assigned, and may be removed by the Chairwoman. The

Chairwoman shall fix their remuneration, and they shall be

under the general supervision and direction of the

Chairwoman.

(B) Minority staff

The employees of the committee assigned to the minority

shall be appointed and assigned, and their remuneration

determined, as the Ranking Minority Member of the committee

shall determine.

(C) Subcommittee staff

The Chairwoman and Ranking Minority Member of the full

committee shall endeavor to ensure that sufficient committee

staff is made available to each subcommittee to carry out its

responsibilities under the rules of the committee.

13. POWERS AND DUTIES OF SUBCOMMITTEES

Each subcommittee is authorized to meet, hold hearings,

receive evidence, and report to the full committee on all

matters referred to it. Subcommittee chairmen shall hold such

meetings and hearings after approval of the Chairwoman of the

full committee. Meetings and hearings of subcommittees shall

not be scheduled to occur simultaneously with meetings or

hearings of the full committee.

14. RECORDS

The committee shall keep a complete record of all actions,

which shall include a record of the votes on any question on

which a record vote is demanded. The result of each

subcommittee record vote, together with a description of the

matter voted upon, shall promptly be made available to the

full committee. A record of such votes shall be made

available for inspection by the public at reasonable times in

the offices of the committee.

The committee shall keep a complete record of all committee

and subcommittee activity which, in the case of any meeting

or hearing transcript, shall include a substantially verbatim

account of remarks actually made during the proceedings,

subject only to technical, grammatical, and typographical

corrections authorized by the person making the remarks

involved.

The records of the committee at the National Archives and

Records Administration shall be made available in accordance

with rule VII of the Rules of the House. The Chairwoman of

the full committee shall notify the Ranking Minority

Member of the full committee of any decision, pursuant to

clause 3(b)(3) or clause 4(b) of rule VII of the House, to

withhold a record otherwise available, and the matter

shall be presented to the committee for a determination of

the written request of any member of the committee.

15. ACCESS TO CLASSIFIED OR SENSITIVE INFORMATION

Access to classified or sensitive information supplied to

the committee and attendance at closed sessions of the

committee or its subcommittees shall be limited to members

and necessary committee staff and stenographic reporters who

have appropriate security clearance when the Chairwoman

determines that such access or attendance is essential to the

functioning of the committee.

The procedures to be followed in granting access to those

hearings, records, data, charts, and files of the committee

which involve classified information or information deemed to

be sensitive shall be as follows:

(A) Only Members of the House of Representatives and

specifically designated committee staff of the Committee on

Small Business may have access to such information.

(B) Members who desire to read materials that are in the

possession of the committee should notify the clerk of the

committee.

(C) The clerk will maintain an accurate access log, which

identifies the circumstances

surrounding access to the information, without revealing the

material examined.

(D) If the material desired to be reviewed is material

which the committee or subcommittee deems to be sensitive

enough to require special handling, before receiving access

to such information, individuals will be required to sign an

access information sheet acknowledging such access and that

the individual has read and understands the procedures under

which access is being granted.

(E) Material provided for review under this rule shall not

be removed from a specified room within the committee

offices.

(F) Individuals reviewing materials under this rule shall

make certain that the materials are returned to the proper

custodian.

(G) No reproductions or recordings may be made of any

portion of such materials.

(H) The contents of such information shall not be divulged

to any person in any way, form, shape, or manner, and shall

not be discussed with any person who has not received the

information in an authorized manner.

(I) When not being examined in the manner described herein,

such information will be kept in secure safes or locked file

cabinets in the committee offices.

(J) These procedures only address access to information the

committee or a subcommittee deems to be sensitive enough to

require special treatment.

(K) If a member of the House of Representatives believes

that certain sensitive information should not be restricted

as to dissemination or use, the member may petition the

committee or subcommittee to so rule. With respect to

information and materials provided to the committee by the

executive branch, the classification of information and

materials as determined by the executive branch shall prevail

unless affirmatively changed by the committee or the

subcommittee involved, after consultation with the

appropriate executive agencies.

(L) Other materials in the possession of the committee are

to be handled in accordance with the normal practices and

traditions of the committee.

16. OTHER PROCEDURES

The Chairwoman of the full committee may establish such

other procedures and take such actions as may be necessary to

carry out the foregoing rules or to facilitate the effective

operation of the committee.

17. AMENDMENTS TO COMMITTEE RULES

The rules of the committee may be modified, amended or

repealed by a majority of the members, at a meeting

specifically called for such purpose, but only if written

notice of the proposed change has been provided to each such

member at least 3 days before the time of the meeting.

18. BUDGET AND TRAVEL

(A) From the amount provided to the Committee in the

primary expense resolution adopted by the U.S. House of

Representatives for the 111th Congress, the Chairwoman, after

consultation with the Ranking Minority Member, shall

designate one-third of the budget under the direction of the

Ranking Minority Member for the purposes of minority staff,

travel expenses of minority staff and members, and minority

office expenses.

(B) The Chairwoman may authorize travel in connection with

activities or subject matters under the general jurisdiction

of the Committee.

(C) The Ranking Minority Member may authorize travel for

any minority member or minority committee staff member in

connection with activities or subject matters under the

general jurisdiction of the Committee. Before such travel,

there shall be submitted to the Chairwoman in writing the

following at least seven calendar days prior:

(a) The purpose of the travel.

(b) The dates during which the travel is to occur.

(c) The names of the States or countries to be visited and

the length of time spent in each.

(d) The names of members and staff of the committee

participating in such travel.

At the conclusion of such travel, a summary of the activity

and its accomplishments shall be provided to the Chairwoman

within ten calendar days.

19. COMMITTEE WEBSITE

The Chairwoman shall maintain an official Committee website

for the purpose of furthering the Committee's legislative and

oversight responsibilities, including communicating

information about the Committee's activities to Committee

members and other Members of the House. The Ranking Minority

Members may maintain a similar website for the same purpose,

including communicating information about the activities of

the minority to Committee members and other Members of the

House.

20. VICE CHAIR

Pursuant to House Rules, the Chairwoman shall designate a

member of the majority party to serve as Vice Chairman of the

Committee. The Vice Chairman shall preside at any meeting or

hearing during the temporary absence of the Chairwoman. The

Chair also reserves the right to designate a committee member

of the majority to serve as the Chair at a hearing or

meeting.

21. AVAILABILITY OF RECORD VOTES ON THE COMMITTEE'S WEBSITE

In addition to any other requirement of these rules or the

Rules of the House, the Chair shall make the record of the

votes on any questions on which a record vote is demanded

available on the Committee's website and for inspection by

the public at reasonable times in the Offices of the

Committee not later than 2 business days after such a vote is

taken. Such record shall include a description of the

amendment, motion, order, or other proposition, the name of

each member voting for and each member voting against such

amendment, motion, order, or proposition, and the name of

those members of the committee present but not voting.

Mr. Chairman, I yield myself such time as I may consume.

(Ms. Velazquez asked and was given permission to revise and extend her remarks.)

I rise in support of the American Recovery and Reinvestment Act of 2009, which will help restore stability to our weakened economy and drive growth within the small business community.

Mr. Chairman, in a recent hearing my committee met an entrepreneur, Thomas Rankin, whose 83-year-old family business, Ramer Lumber, had managed to weather the great Depression but wasn't able to survive the current downturn. This past November, his business closed its door for good.

All across the country, countless small business firms are facing the same fate. Recovery efforts enacted last fall have not trickled down to Main Street. From Mom and Pop restaurants to technology startups, small firms of every kind are suffering. What we need now are solutions that work for entrepreneurs. After all, they are the ones that are promoting growth and they are the ones with a proven track record of creating jobs.

But, unfortunately, a combination of restrictive lending and tightening credit has stunted small business growth, preventing entrepreneurs from playing their historic role of economic catalyst.

The Recovery and Reinvestment Act will help turn the tide. To begin with, $30 billion in targeted tax measures would allow struggling startups to stay afloat. For example, the bill will repeal the burdensome 3 percent withholding requirement for government contractors and allow for enhanced expensing for small businesses' purchases. For cash-strapped entrepreneurs, these initiatives could make the difference between meeting payroll and making layoffs.

The Recovery and Reinvestment Act also promises to thaw frozen small business lending and increase guaranties for new loans. At the same time, it will reopen the secondary market which has ground to a halt. Taken all together, these initiatives will put $13 billion into the hands of small businesses immediately, allowing entrepreneurs to do what they do best, create jobs. Small business lending provisions within the Recovery and Reinvestment Act will keep and create over 400,000 jobs. And at the end of the day, that is what small businesses do best, create jobs.

With unemployment at a 16-year high, let's not kid ourselves. There can be no recovery without job creation. That is why it is so critical that entrepreneurs have the resources they need to not just survive the downturn but to emerge from it stronger and ready to bring our economy back on track.

Mr. Chairman, I reserve the balance of my time.

Mr. Chairman, I yield 1 minute to the gentlelady from Illinois (Mrs. Halvorson).

Mr. Chairman, as a result of restricting lending and vanishing credit, small firms spanning every sector are folding at alarming rates. This is particularly troubling because they comprise 95 percent of American industry and employ half of the private sector workforce.

When these businesses disappear, so do many millions of American jobs. The American Recovery and Reinvestment Act offers an opportunity to keep the jobs we still have and to create hundreds of thousands more. Just as importantly, it is an investment in our Nation's entrepreneurs, the people creating jobs, driving innovation and strengthening the backbone of our economy.

I urge the adoption of this bill.

I yield back the balance of my time.

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 7175) to amend the Small Business Act to improve the section 7(a) lending program, and for other purposes.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and to include extraneous materials on the bill under consideration.

Mr. Speaker, I yield myself as much time as I consume.

Mr. Speaker, I rise in support of this bill which would help entrepreneurs gain access to vital capital. Even before the recent troubles on Wall Street began, securing funding was an uphill battle for small businesses. Today, it is even more challenging than ever.

The effects of the current lending slump have been taxing. Liquidity challenges have caused lenders to cut lines of credit and recall loans to small firms. As these crucial sources of investment dry up, entrepreneurs have few places left to turn.

Venture capital investors, who have historically fueled the startup community, are becoming more and more cautious in doing so. At the same time, commercial banks have raised the bar for lending criteria on interest rates.

While the Small Business Administration has historically helped entrepreneurs during economic downturns, it is also failing to meet funding needs. In fact, the Small Business Administration lending is down 25 percent this year. Most small businesses rely on some form of loans or credit in order to meet their daily needs. Not surprisingly, the consequences of today's downturn in funding have had a crippling effect on their community.

The Small Business Financing Improvement Act of 2008 will help in small but important ways in part by enhancing the Small Business Administration lending programs. For example, it will improve the administration's 7(a) initiative, which is its most frequently used line of small business credit. It would also ease the flow of investments from venture capitalists. This will be particularly helpful as venture capital funding has a history of sparking innovation.

Furthermore, the bill I am proposing today will encourage lending from commercial banks. It will also do this by reducing the regulatory burden for financiers looking to fund small firms. In light of their current reluctance to make small business loans, this will be a tremendous incentive for banks to assist entrepreneurs.

This act will help thousands of small firms maintain and grow their companies. It will do this by allowing them to access the funds they need to go about their daily business and do everything from meet payroll to stock their shelves. Capital is the most basic and essential building block for small business ownership. After all, it is what allows entrepreneurs to start companies in the first place. For this reason, the bill has won full approval from the Small Business Administration.

I should also add that this provision has at one point or another been passed in the House.

Small businesses employ half of this Nation's workforce, and entire local economies depend on their success. The bill we're considering here today will be an important first step in ensuring that America's entrepreneurs can achieve their success. With this in mind, I urge my colleagues to support its passage.

I reserve the balance of my time.

Mr. Speaker, I have no further speakers.

I reserve my time.

Mr. Speaker, I have no further speakers on this side, and I'm prepared to close.

Mr. Speaker, let me just say that small businesses are the innovators in this country and that for the last 7 years, this administration's failed policies have not provided the tools and resources for small businesses to be part of the energy solution and make this country energy independent.

We passed H.R. 6 last year. Let's get the White House and the administration to implement those provisions that will allow for small businesses to be part of innovation in relation to energy independence in this country.

I yield back the balance of my time.

Mr. Speaker, I move to suspend the rules and agree to the resolution (H. Res. 1473) recognizing the 150th anniversary year of the founding of Macy's, Inc., as an American entrepreneurial success story and the role Macy's, Inc., plays in supporting America's small businesses and vendors, including those that are minority and women owned; celebrating the vision, innovativeness, and ingenuity of all of our Nation's small businesses.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on the resolution under consideration.

Mr. Speaker, I yield myself as much time as I may consume.

I rise in support of this resolution in celebration of Macy's 150th anniversary. Both the City of New York and the small business community have benefited immensely from the success and generosity of this American icon.

As anyone within the small business community will tell you, the best entrepreneurs are more than just businessmen. While it is obviously important to have a head for numbers and risks, there is another, more critical, element involved. In order for an entrepreneur to make history, in order to be truly great, he or she must also be an innovator. Roland H. Macy was just that kind of man.

Today, we are saluting the business that Macy founded 150 years ago, a company that began small but, through hard work and enormous innovation, has come to stand as a symbol of the American Dream.

When Macy opened a small dry goods store in 1858, he probably never expected it to become a multi-billion dollar business. After all, he first reported sales added up to a grand total of $11.06. Still, it didn't take long for Macy's venture to become a success.

A century and a half after it first opened its door, that little dry goods shop has grown to become a national department store chain.

Macy's remarkable growth stands for more than just hard work and good business sense. R.H. Macy, like any successful entrepreneur, was a tireless innovator. As chairwoman of the Small Business Committee, I see that same sense of innovation in the entrepreneurs I work with. It is the spirit that drives people to start businesses in the first place.

Macy's small business success was largely rooted in its ability to innovate. Indeed, the department store pioneered many of their retail practices we now take for granted. For example, it was the first to adopt the one-price system through which every item is assigned a single fixed cost.

Macy's has also consistently outshone its competitors by offering new and novel products. Take, for instance, color bath towels, or the Idaho baked potato, or the tea bag. None of these commodities were available to the mainstream until Macy's brought them to market.

As with any industry, great success brings great change. Macy's has obviously outgrown its ``small business'' label and has become a major player in the retail world. Its flagship store in my home City of New York has become a shopping destination for Manhattanites and tourists alike. It attracts visitors from across the country and around the world. And yet despite being a multi-billion dollar corporation, Macy's has never forgotten its entrepreneurial roots.

The retailer still strives to support the small business community by purchasing many of its products from small firms. Through its Supplier Diversity Program, the company makes a point of buying from and nurturing women and minority entrepreneurs. In 2007, it held its first diversity supplier fair to target these groups specifically.

Macy's embodies the great American story of a small business that made it big. Roland H. Macy and his legendary venture represent the dream of every entrepreneur. After 150 years, the retailer stands as a shining example of two fundamental American values--hard work and innovation. Those are the values that have driven the department store's achievements throughout the years. And those are the values that we are celebrating this afternoon.

The Macy's story is a great American story. It is based on the premise that any small business owner can become a big business success. After all, Macy's began as a modest dry goods store on the corner of 14th Street and 6th Avenue in Manhattan. Today, it is a multibillion dollar corporation.

But while Macy's may be a Fortune 500 company, it has not forgotten its small business roots. Its Supplier Diversity Program, for example, nurtures women and minority entrepreneurs. Macy's clearly recognize the importance of giving back.

In celebrating Macy's, we are applauding its great achievements, and its dedication to invention. The company pioneered many practices and products that have since become American staples. For instance, the store first brought colored bath towels into the mainstream. But perhaps more importantly, we are also applauding Macy's commitment to small business development. It is a commitment to entrepreneurship. It is a commitment to innovation. It is a commitment to the American dream.

I would urge the adoption of this resolution.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I would like to inquire if the gentleman has any other further speakers.

Mr. Speaker, I yield back.

Madam Speaker, I would like to take this moment to offer my congratulations to the Borinquen Plaza Senior Center on its 31st anniversary. New York's 12th Congressional District is enriched by this institution serving our seniors during their golden years.

Located within the Borinquen Plaza Public Houses in Williamsburg, Brooklyn, this senior center was founded on July 22, 1977, by Los Pioneros Puertorriquenos, an organization focused on social and economic justice. Since its inception, the center has served as a safe haven from everyday struggles for countless senior citizens. Thanks to the leadership of its sponsor, board members, executive director, and staff, senior residents of Borinquen Plaza Public Houses and the surrounding community benefit from a facility dedicated to meeting their needs. The center works to promote nutritional, emotional, and physical wellness. On a daily basis, more than 230 congregate meals are provided, as well as approximately 200 meals-on-wheels to homebound seniors. Further enhancing residents' lives, daily recreational activities are planned, special events and holiday festivities. It is through these programs and the unwavering commitment of the Borinquen Plaza Senior Center that our elderly neighbors have experienced meaningful benefits.

In closing, I ask my colleagues to join me in congratulating the Borinquen Plaza Senior Center for its dedication to the seniors of Williamsburg, Brooklyn. The residents of our community and I look forward to many years of continued service.

Mr. Speaker, I want to thank Chairman Frank, Ms. Waters and the members of the minority who have worked in this important bipartisan bill.

Mr. Speaker, right now, this country needs swift effective action, and this legislation will do just that. Neighborhoods across the Nation are feeling the effects the growing number of abandoned and foreclosed properties. In my district alone, there are almost 700 homes in foreclosure. Home owners, even in strong housing markets, are watching their financial security disappear. What was once a robust growing market is now at the core of the current economic downturn.

H.R. 3221 will help reverse this, stabilize neighborhoods, and convert foreclosed properties into stable rental and home ownership opportunities for working families.

Most importantly, Mr. Speaker, it protects a basic need for millions of Americans, affordable housing. With the magnitude of the housing crisis and number of people struggling to keep their homes, the time to act is now.

When a family goes into foreclosure, they lose their economic stability and strain our already struggling economy. H.R. 3221 will restore investor confidence in the housing finance market while securing the American dream for working families. It not only addresses the immediate needs but installs safeguards so we can prevent a future housing downturn.

While access is essential, equally critical to the housing recovery is the ability of sound mortgages.

Mr. Speaker, let me first commend Chairman Frank and Chairman Rangel for their leadership in moving the American Housing Rescue and Foreclosure Prevention Act of 2008 forward. This is an intelligent and measured piece that addresses

the devastating effects of the mortgage crisis. For years, Washington was asleep at the switch. But now, this Congress is addressing and preventing foreclosures.

Nearly 650,000 foreclosure filings were issued in the first quarter of 2008, which represents 1 of every 194 households. Every day that goes by without action means more families are at risk of losing their homes.

This crisis--like so many other components of the current recession-- hit low-income and minority neighborhoods the hardest. Each home lost to foreclosure affects entire neighborhoods. Chairwoman Waters' bill H.R. 5818--of which I am an original cosponsor--allows homeowners to fight back.

I want to particularly highlight a provision I pushed to get added to this fine legislation. Many homeowners ended up in foreclosure because they didn't get sound mortgage advice. They need someone on their side--we all know the bank will be well represented. I am proud to have worked with Chairman Frank and several of my Financial Services Committee colleagues to ensure that low-income homeowners and veterans in high foreclosure areas have access to professional counseling. Many distressed homeowners need sound advice now more than at any other time in their lives. Our legislation provides the help they need.

When a family loses a home to foreclosure, they lose more than four walls and a roof--they lose their economic stability. The housing package we are debating not only addresses immediate needs but is a solid strategy for preventing a future housing downturn.

I urge a ``yes'' vote on the American Housing Rescue and Foreclosure Prevention Act.

Madam Speaker, I rise today to recognize the remarkable life achievements of a beloved Puerto Rican sports icon and long-time distinguished New Yorker. Jose ``Chegui'' Torres is an example to us all, both for his accomplishments as an athlete and his dedication to his community and Nation.

Chegui was born on May 3, 1936 in Ponce, Puerto Rico. By his late teens, he had shown such prowess in the ring, that he was invited to join the U.S. Olympic Boxing Team. As an Olympian, he won a silver medal in the junior middleweight division at the 1956 Melbourne Summer Games.

Subsequently--still as an amateur boxer--he won the 1958 Inter-City Golden Gloves Championship. Later that year, Chegui chose to join the ranks of boxing professionals. He debuted with a first round knockout of George Hamilton in New York, and followed that impressive professional victory with 12 wins--10 of them by knockout. On March 30, 1965, the Brooklyn resident became world light-heavyweight boxing champion before thousands of adoring fans at Madison Square Garden. He is one of the first three Puerto Ricans to earn a world title, and the first Hispanic ever to win the world's light heavyweight championship.

The notoriety that came from his 1965 triumph brought him considerable national attention. It even led to such highlights as an appearance--and singing performance--on the Ed Sullivan Show. Not one to rest on his laurels, however, Chegui successfully defended his championship belt three times. In fact he did not retire from the sport until 1969, doing so with an impressive 41-3-1 record.

In more recent years, Chegui has distinguished himself as a leader of New York's Puerto Rican community. He is a familiar face to city residents, and a tireless advocate of the less fortunate among us. From 1984 to 1988, he also served as New York State Athletic Commissioner. And, from 1990 to 1995, he was named President of the World Boxing Organization.

Having traded his boxing gloves for the might of the written word, Chegui is now also an accomplished author. He has written several books, among them: Sting Like a Bee, about Muhammad Ali and Fire and Fear, about Mike Tyson. He is also a highly regarded sports columnist for ESPNdeportes.com and a commentator for ESPN Deportes and ESPN International.

Jose ``Chegui'' Torres has lived a remarkable life. He has accomplished tremendous victories inside the ring, and--on behalf of Puerto Ricans everywhere--outside of it. He has shown himself to be a leader, a fierce representative of his Nation, and a tireless supporter of his community. After four decades of living in New York, ``Chegui'' returned with his wife of more than 46 years, Ramona Ortiz Rodriguez, to his beloved Puerto Rico. He takes with him a lifetime of memories, our best wishes, and the respect of a people who will forever see him as their champion.