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NEWS from the Senate Committee on Small Business and Entrepreneurship John F. Kerry, Chairman
For Immediate Release: July 11, 2008 Contacts: Laurel Brown (Kerry), 202-224-0216 Kurt Bardella (Snowe), 202-224-1304 $107 Million Budget Increase for SBA, Small Business Programs Passes CommitteeWASHINGTON –The Senate Appropriations Committee passed the Financial Services Appropriations Bill, which provides $107 million in additional funding for the Small Business Administration (SBA) and its small business programs that will benefit America’s entrepreneurs late Thursday. Senators John Kerry (D-Mass.) and Olympia J. Snowe (R-Maine), the Chairman and Ranking Member of the Senate Committee on Small Business and Entrepreneurship, worked with the leaders of the Appropriations Committee to secure the funding increase for the SBA’s core small business programs of approximately 45% over the President’s request for 2009. The bill increases funding for Small Business Development Centers by 24%, Women’s Business Centers by 13%, microloans to $20 million from zero, contracting assistance by 87%, and veterans outreach programs by 62%. “I applaud the Appropriations Committee, and especially Senator Durbin, for securing this funding for the small businesses which create good jobs in our country,” said Senator Kerry. “The sluggish economy is making it very hard for small businesses to access the capital and counseling they need to succeed, and this additional funding will help create jobs and boost our economy.” “I am pleased that the Appropriations Committee, and in particular Financial Services Subcommittee Chairman Durbin and Ranking Member Brownback, had the foresight to provide the additional funding to the SBA that we requested earlier this year,” said Senator Snowe. “During these challenging economic times, it is critical that the SBA is provided the resources necessary to help small businesses create new or improved products and services, which ultimately translates into thousands of jobs.” The Senate’s appropriations bill increases funding over the President’s request for: Capital Programs · Microloans to $2.5 million to leverage more than $21 million in loans (from zero funding), and microloan technical assistance to $20 million (the President’s budget sought to eliminate it). Last year, SBA’s microlenders leveraged a program level of $21 million into more than $31 million in microloans, proportionally helping more women and minorities than other programs. Entrepreneurial Development and Outreach Programs
Contracting Programs and Assistance
Good Afternoon Friends,
This week the Senate started by passing H.R. 6304 the Foreign Intelligence Surveillance Act (FISA) and proceeded to pass H.R. 6331 the Medicare Improvements for Patients and Providers Act by a 69-30 vote. The final vote for the Medicare bill was extremely important because the President has threatened to veto the bill which was passed by a veto proof margin in the House and now in the Senate.
Before the July 4th recess the Medicare bill failed by one vote. In a surprise appearance Senator Kennedy returned to the Senate on Wednesday to cast the one vote needed to pass the bill. The Medicare bill among other things will improve the Medicare program for the 44.1 million seniors who are enrolled, provide additional help for low-income seniors, ensure proper pay for Medicare providers, and improve the Medicare Drug Benefit program.
The Senators just voted to pass H.R. 3221 the Housing Reform bill passed and are now working on S.2731 the Global/HIV Aids bill. The Housing bill addresses the root causes of the foreclosure crisis by providing foreclosure counseling for families in need, gives tax benefits to homeowners and homebuyers, and creates a new program at the Federal Housing Administration (FHA) that would help at least 400,000 families save their homes from foreclosure.
The Global/HIV Aids bill authorizes $50 billion for HIV/AIDS, tuberculosis, and malaria and sets goals such as preventing 12 million new HIV infections. The Global/HIV Aids bill also places an increased focus on women and girls and the factors that put them at greater risk for HIV infection in many countries such as gender-based violence. Currently prospective immigrants, foreign students, refugees, and tourists are barred from entering the U.S. if they are infected with HIV. Senate Democrats are fighting to remove the HIV visa ban.
If you have any questions please feel free to contact me.
Have a great weekend.
Kory
For Immediate Release
CONTACT: Jim Manley / Rodell Mollineau, Reid, (202) 224-2939
REID STATEMENT ON SENATE PASSAGE OF HOUSING BILL
Washington, DC—Senate Majority Leader Harry Reid made the following statement today after the U.S. Senate passed a housing bill that reforms regulation of the Government Sponsored Enterprises, modernizes the FHA, helps families avoid foreclosure and establishes an affordable housing trust fund to help low-income families:
“After months of Republican delay, Senate Democrats led passage of a responsible bill to address the worsening foreclosure crisis, which is the root of the broader economic crisis. By helping Americans keep their homes and their home equity, we are restoring stability to the housing market and helping businesses and communities hurt by this crisis not only recover, but also create new jobs. This bill will help prevent another crisis of this magnitude, stop foreclosures before they begin and preserve for future generations the American Dream of home ownership.
“Bush-McCain Republicans have been shamefully slow to act. Each day they stalled, nearly 8,500 new families filing for foreclosure – on top of already accelerating foreclosure filings that were 53 percent higher in June than in the same month the previous year. The time for delay has passed. We look forward to quickly reconciling remaining differences with the House and sending this bill to the President for his signature.”
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For Immediate Release
CONTACT: Jim Manley / Rodell Mollineau, Reid, (202) 224-2939
REID STATEMENT ON VETO-PROOF PASSAGE OF MEDICARE FIX THAT PREVENTS CUTS FOR DOCTORS, IMPROVES CARE FOR PATIENTS
Washington, DC—Senate Majority Leader Harry Reid made the following statement today after the U.S. Senate passed the Medicare Improvements for Patients and Providers Act by a 69-30 vote:
“With this vote, the Senate has passed a responsible and necessary bill to prevent payment cuts for doctors and to improve care for patients. We are reversing a 10.6-percent cut in payments to physicians who care for millions of American seniors and military families.
“The House strongly passed this bill in bipartisan, veto-proof fashion by nearly 300 votes, and the Senate has now passed it by a veto-proof margin as well. It is now up to the President to sign it into law. I call on him to join Congress in making sure Medicare works better for every American senior and TRICARE works better for our troops.
“Senator Kennedy showed again today why he is so beloved in our Senate family, why he is the model of public service and an American icon. We knew that Senator Kennedy – one of the greatest fighters this body has ever seen – would rise to the challenge and return to work, and what more appropriate time for him to do so than in an effort to protect seniors’ and veterans’ health care.”
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For Immediate Release
CONTACT: Federico A. de Jesús, Reid, (202) 224-2939
REID: TO INCREASE OIL PRODUCTION, ADMINISTRATION SHOULD PRESSURE INDUSTRY TO BEGIN DRILLING ON LAND IT ALREADY LEASES
Washington, DC—Senate Majority Leader Harry Reid made the following statement today in response to President Bush’s remarks today calling for increased domestic oil drilling:
“Senate Democrats agree that increased domestic production is part of the solution to record oil and gas prices, but President Bush conveniently failed to mention that the oil industry is already sitting on 68 million acres on which they refuse to drill. Instead of calling on Congress to hand over even more American land and resources to the oil industry, President Bush should tell his friends to start drilling in the land they already have. He should also release to the market oil being put away in the Strategic Petroleum Reserve. Increased use of existing resources – combined with a sustained investment in energy efficiency and producing clean alternatives to oil – can help provide both short- and long-term solutions to America’s energy crisis.”
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FACT CHECK: President Bush and Drilling
FACT: OIL COMPANIES ARE NOT DRILLING IN AREAS CURRENTLY UNDER LEASE
There Are 68 Million Acres of Leased Federal Lands That Are NOT Producing Oil.
Just 21 Percent of Outer Continental Shelf Leases Are in Production. There are 7,740 active leases in the outer continental shelf and only 1,655 are in production. [Department of Interior]
Just 19 Percent of Outer Continental Shelf Acres Under Lease Are Producing. There are over 41,000,000 acres in the outer continental shelf have been leased for oil drilling, yet only 8,123,000 acres are in production. [Department of Interior]
FACT: MOST RECOVERABLE OFFSHORE OIL AND GAS IS OPEN TO DRILLING
79 Percent of Recoverable Offshore Oil Is Open to Drilling. Currently 79 percent of America’s technically recoverable offshore oil reserves are open for leasing, while just 21 percent are closed to drilling. [Minerals Management Service, 2006]
82 Percent of Recoverable Offshore Natural Gas Is Open to Drilling. Currently 82 percent of America’s technically recoverable offshore natural gas reserves are open for leasing, while just 18 percent are closed to drilling. [Minerals Management Service, 2006]
FACT: EXPANDING DRILLING WOULD HAVE NO IMMEDIATE IMPACT ON GAS PRICES
Senator McCain Said Expanding Domestic Production Would Take Years to Develop. “But I also have to tell you that with those resources, which would take years to develop, it would only postpone or temporarily relieve our dependency on fossil fuels,” McCain said. [Seattle Post-Intelligencer, Joel Connelly Column, 6/20/08]
Senator McCain Said Exploiting Domestic Oil Reserves Would Take Some Years, Could Have a Beneficial “Psychological” Impact. “Even though it may take some years, the fact that we are exploiting those reserves would have psychological impact that I think is beneficial,” said McCain during a town hall meeting. [Associated Press, 6/24/08]
Senator Martinez Said Drilling Is Only Long Term Solutions, Not Immediate Answers. “I don't think that solar and renewables are any more of an answer tomorrow than opening up more areas of exploration would be. All of these are long-term solutions, but we've got to begin down the path at some point.” [Senators Martinez and Cornyn Press Conference, 7/8/08]
FACT: BUSH ADMINISTRATION’S ENERGY EXPERTS AGREE OFFSHORE DRILLING WOULD NOT SIGNIFICANTLY LOWER GAS PRICES
Head of Bush Administration’s Energy Information Administration Said Offshore Drilling Would Have Little Affect on Gas Prices. “In response to record pump prices, Republican presidential candidate Sen. John McCain and President George W. Bush this month called for Congress to end its moratorium on drilling off the East and West coasts and in Florida waters, leaving it up to each affected state to decide where to permit drilling… However, Guy Caruso, who heads the federal Energy Information Administration, said consumers would see little savings at the pump. ‘It would be a relatively small effect, because it would take such a long time to bring those supplies on,’ Caruso said during a briefing at the Center for Strategic and International Studies on the EIA's new long-term international energy forecast. ‘It doesn't affect prices that much.’ Most energy experts say it would take five to 10 years to find oil in the closed areas and bring the crude to market. Caruso said the additional supplies would amount to only a couple of hundred thousand barrels of oil a day. ‘It does take a long time to develop these resources, and therefore the price impact is muted by that,’ he said.” [Reuters, 6/25/08]
Bush Administration’s Own Energy Information Administration Found Outer Continental Shelf Drilling Would Have No Significant Impact on Gas Prices “The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030… Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant.” [Energy Information Administration, 2007]
FOR IMMEDIATE RELEASE July 10, 2008 Contacts: Kawika Riley (Veterans’ Affairs): (202) 224-9126 Scott Gerber (Feinstein): (202) 224-9629 Whitney Smith (Kerry): (202) 224-4159 Jesse Broder Van Dyke (Akaka): (202) 224-7045
AKAKA, FEINSTEIN AND KERRY URGE VETERANS AFFAIRS SECRETARY TO END PROHIBITION ON VOTER REGISTRATION
WASHINGTON, D.C. – U.S. Senator Daniel K. Akaka (D-HI), Chairman of the Veterans’ Affairs Committee, Senator Dianne Feinstein (D-CA), and Senator John Kerry (D-MA), sent a letter today to Veterans Affairs Secretary James B. Peake, calling on him to end the current prohibition of voter registration at Department of Veterans Affairs facilities.
Under current regulations, which Secretary Peake has the authority to revise, Veterans Affairs broadly prohibits third-party organizations from conducting voter registration drives at VA facilities. Recently, VA has received criticism for this prohibition, and been urged to allow non-partisan voter registration activities.
“Veterans receiving care at VA facilities risked life and limb to defend the freedoms we enjoy, including the right to vote,” said Akaka. “Current VA policy makes it unnecessarily difficult for some veterans to participate in the electoral process. I urge Secretary Peake to reverse the prohibition on non-partisan voter registration activities.”
“There is no reason why the Department of Veterans Affairs should not proactively assist veterans in exercising their right to vote. To do otherwise is an insult to the sacrifices these men and women have made for our country,” said Feinstein. “It’s time the Department of Veterans Affairs reverse its directive and allow these non-partisan, third-party organizations into VA facilities to register veterans to vote.”
“No veteran who has defended freedom and democracy overseas should experience democracy denied here at home. We must support voter registration for veterans in every way possible, including allowing assistance from nonpartisan registration organizations. Impeding voter registration in any way insults the ideals our veterans fought for in uniform, and that’s something the Department of Veterans Affairs cannot stand for,” said Kerry.
The joint letter is copied below.
The Honorable James B. Peake, MD Secretary of Veterans Affairs 810 Vermont Avenue, NW Washington, DC 20420
Dear Secretary Peake,
We are writing to urge you to revise the current directive – VHA Directive 2008-025 – relating to voting assistance for Department of Veterans Affairs’ patients. We believe that the Directive’s broad prohibition against third-party organizations conducting voter registration drives at VA facilities is both unnecessary and arbitrary and fails to recognize that veterans may need assistance in registering in order to exercise their Constitutional right to vote. We believe that VA should be a proactive facilitator of voter registration by nonpartisan groups, rather than an agency that hinders veterans from participating in the electoral process.
The VHA Directive references “Hatch Act requirements” as one basis for the prohibition on voter registration activities. We do not understand this reference. The Hatch Act, among other things, prohibits federal employees from engaging in political activity on official time or on federal property. This has been interpreted to mean that federal employees are forbidden from participating in a partisan voter registration drive on official time or on federal property. However, the Office of Special Counsel has issued policy statements that federal employees may assist in non-partisan voter registration drives on federal property and on official time without violating the Hatch Act. In addition, the Hatch Act does not prohibit outside groups, partisan or otherwise, from registering voters at a VA facility if federal employees do not participate.
Right before the Fourth of July, Connecticut’s Secretary of State Susan Bysiewicz attempted to provide voter information and register residents at a West Haven Veterans Affairs facility. Secretary Bysiewicz was denied entry to the VA facility under the VA’s Directive. Instead she sought to register veterans leaving the facility. One such veteran who was registered to vote by the Secretary was Martin Onieal, 92, a World War II veteran. Mr. Onieal told her “There was nobody here to do this last year.” That is simply unacceptable.
We recognize and respect the need for VA to guard against any activities that might interfere with carrying out the Department’s mission to furnish quality health care services to veterans. However, we are confident that voter registration activity can be permitted that would not impinge on fulfilling that responsibility.
We strongly urge you to revise VHA Directive 2008-025, so as to allow voter registration activity at VA facilities, with appropriate limitations as to time and place for such activities.
Thank you for your consideration of this important request. We look forward to working with you on this and others matters of concern to our Nation’s veterans.
Sincerely,
Daniel
K. Akaka U.S.
Senator
-END- Senate Business E-News: A Bi-weekly Update from the Senate Committee on Small Business and Entrepreneurship John F. Kerry (D-Mass.), Chairman
June 29, 2007
In this Edition:
Recent Actions 1. Markup: Committee Passes Bipartisan Bills to Expand Venture Capital, Entrepreneurial Development 4. Markup: Kerry, Snowe Bill Expands Loan Program for Small Businesses 5. Department of Defense Commits to Service Disabled Veteran Contracting Goal 6. Markup: Bipartisan Bill to Overhaul Disaster Loan Program Clears Committee 7. Budget Amendment: Kerry-Snowe Add $97 Million to Small Business Budget
Oversight Hearings: 2. Kerry Holds Hearing on Rising Gas Prices 3. Kerry Focuses on Expanding Minority Entrepreneurship 4. Committee Holds Roundtable on Access to Capital 6. Kerry Promotes Small Business Tools to Combat Climate Change 7. Kerry Says Small Business Budget Inadequate, Calls for Increased Funding 8. Committee Examines Solutions to Ease Health Care Costs for Small Businesses
Current Legislation: For information about pending small business legislation, please click here.
Recent Oversight Letters: To view oversight letters that Senator Kerry has exchanged with federal agencies on behalf of small businesses, please click here.
Recent Actions
1. Committee Passes Bipartisan Bills to Expand Venture Capital, Entrepreneurial Development
On Tuesday, June 26, 2007, the Committee on Small Business and Entrepreneurship passed two important pieces of legislation for small business owners across the country, with a focus on strengthening business ownership opportunities for minorities and women, and making the Small Business Administration’s venture capital programs more attractive to investors so that there’s more capacity in the country, in more areas, to finance growing small businesses. The legislation, S.1662 and S.1671, reauthorizes and improves the Small Business Investment Company (SBIC) and New Market Venture Capital (NMVC) programs through 2010, and boosts key small business counseling and assistance programs. The bills, sponsored by Senator John Kerry (D-Mass.) and Olympia J. Snowe (R-Maine), Chairman and Ranking Member of the Committee, will ensure more small businesses have access to these key programs.
To learn more about the venture capital bill, please click here, and to learn more about the entrepreneurial development bill, please click here. You can also watch the markup here.
2. Kerry, Snowe Secure Small Business Energy Efficiency Provisions in Energy Bill
Last week, Senators Kerry and Snowe secured two amendments to the CLEAN Energy Act that help America’s small businesses. Following a hearing the Committee on Small Business and Entrepreneurship held earlier this year that focused on what the government can do to assist small businesses in becoming more energy efficient, these provisions create loans for small firms to invest in renewable sources of energy, create incentives for greener business operations, and hold the Bush Administration accountable for implementing energy efficiency programs that Congress established in 2005.
To learn more about the Kerry-Snowe provisions, click here.
3. Bush Signs Bill with Kerry, Landrieu Provisions for Katrina Relief and Women’s Business Centers
On May 25, 2007, President Bush signed into law provisions championed by Senators Kerry and Landrieu to provide $25 million in relief to small businesses devastated by Hurricanes Katrina and Rita. In addition, this legislation contained an amendment sponsored by Senators Kerry, Snowe and Sununu (R-N.H.), which provides permanent funding for successful Women’s Business Centers across the country. The provisions were included in the Emergency Supplemental Appropriations Bill.
To read more about the provisions, please click here.
4. Kerry, Snowe Bill Expands Loan Program for Small Businesses
On May 16, 2007, the Committee unanimously passed legislation sponsored by Senators Kerry and Snowe that expands and improves the government’s top entrepreneurial lending programs. Kerry hosted a roundtable on this issue with small businesses, lenders, advocates, and SBA representatives on May 2nd. The Small Business Lending Reauthorization and Improvements Act of 2007 (S. 1256) authorizes the government to back nearly $100 billion in loans over the next three years and reduces loan fees for borrowers and lenders in order to provide enough stability to avoid shut-downs or delays in funding.
One provision, championed by Senator Carl Levin (D-Mich), establishes an Intermediary Lending Pilot Program in order to reach businesses that are not eligible for 7(a) and 504 loans but need capital to help finance their growth, and another provision from Senator Mary Landrieu (D-La) increases loan assistance for businesses looking to export their goods overseas.
To read more about this legislation, please click here.
5. Department of Defense Commits to Service Disabled Veteran Contracting Goal
On May 15, 2007, Kerry sent a letter to Secretary of Defense Robert Gates concerning the Department’s failure in meeting the three percent goal for contracting with service-disabled veteran owned businesses (SDVOBs). In the letter, Kerry strongly urged Secretary Gates to do everything possible to meet the three percent goal. In response, Secretary Gates committed the Department achieving the goal and outlined a number of initiatives to provide more opportunities for service-disabled veterans to do business with the federal government. In addition, the Department’s Office of Small Business Programs is performing an in-depth analysis of the SDVOB supplier base. Kerry believes this analysis, when completed, will focus the Department’s procurement policies and ensure that they best meet the needs of both the SDVOB community and the Department of Defense.
To read the text of the letter Kerry sent to Secretary Gates, please click here. To read his response, click here.
6. Bipartisan Bill to Overhaul Disaster Loan Program Clears Committee
The Senate Committee on Small Business and Entrepreneurship passed comprehensive bipartisan legislation to improve the Disaster Loan Program on March 29, 2007. The program was mismanaged and ineffective in the aftermath of Hurricanes Katrina and Rita in 2005, and the Small Business Disaster Response and Loan Improvements Act (S. 163) would ensure that disaster victims receive timely assistance by giving the Administration additional tools to swiftly and effectively respond in the aftermath of a major disaster. The bill is expected to be considered by the full Senate in the coming weeks.
To read more about this legislation, please click here.
7. Kerry-Snowe Add $97 Million to Small Business Budget
On March 23 2007, Senators Kerry and Snowe successfully secured an amendment to the Congressional Budget Resolution to increase Small Business Administration funding by $97 million. The amendment unanimously passed the Senate with Senators Joe Lieberman (I-D-Conn.), Michael B. Enzi (R-Wyo.), Maria Cantwell (D-Wash.), and Mark Pryor (D-Ark.) cosponsoring, and was ultimately adopted as part of the final Budget Resolution passed by Congress.
Marking a 21 percent increase over the President’s $464 million 2008 budget request, the amendment laid out a budget spending blueprint to add vital funding for microloans, Small Business Development Centers, veteran and reservist outreach programs, and Women’s Business Centers, among other programs.
To read more about the Kerry-Snowe amendment, please click here.
Oversight Hearings
Senator Kerry hosted a roundtable on June 21, 2007, to assess the state of venture capital programs designed to spur private investments in small businesses and determine what more the Small Business Administration can do to improve the Small Business Investment Company (SBIC) and New Market Venture Capital (NMVC) programs. The roundtable focused on legislation to improve these programs with venture capital experts, business groups, venture capital firms, and successful small businesses that have received capital through government-backed private equity funds. The legislation passed out of Committee on June 26th.
For more on the legislation, please click here, or for more information on the roundtable itself, including Senator Kerry’s opening remarks, please click here.
2. Kerry Holds Hearing on Rising Gas Prices
On June 14, 2007, Senator Kerry held a hearing to assess the impact of rising gas prices on small businesses. Small business owners outlined the harmful effects of high gas prices, both in terms of fuel costs for delivery and the financial burden it places on their employees and customers. Frederick W. Smith, President and CEO of Federal Express, also testified advocating a strong bipartisan energy security legislation that would improve corporate average fuel efficiency (CAFE) standards.
Following the hearing, Kerry introduced legislation, cosponsored by Senators Cantwell and Tester, to institute a fuel emergency assistance program for small companies and farms that are struggling to remain competitive as they face escalating gas prices.
To watch the hearing, please click here.
To read more about the Kerry-Cantwell-Tester legislation, please click here, or to view the bill itself, please click here.
3. Kerry Focuses on Expanding Minority Entrepreneurship
On May 22, 2007, Senator Kerry called a hearing to examine the effectiveness of government programs in supporting the minority community to establish and expand their businesses. Witnesses testified that there are still barriers for small minority firms in accessing capital and contracting with the federal government. Testimony at the hearing showed that disparity between minorities and non-minorities will continue to exist without goals in place to address those gaps. In addition, witnesses testified about contract bundling and many other small business challenges that put minority business enterprises at a disadvantage.
To address the inequity in small business ownership in the minority community, Kerry introduced the Minority Entrepreneurship Development Act earlier this year. The bill, cosponsored by Senators Landrieu, Ben Cardin (D-Md.), and Hillary Clinton (D-N.Y.), promotes entrepreneurship as a career option for students in science, engineering, and other skilled fields at minority serving institutions. These provisions were included in the entrepreneurial development bill the Committee passed on June 26th.
To read more about these provisions, please click here.
To read Senator Kerry’s opening statement from the hearing, please click here.
4. Committee Holds Roundtable on Access to Capital
With access to capital regularly cited as a top concern among small business owners, Senator Kerry hosted a roundtable on May 2, 2007, to seek input from small firms and leaders in the lending community on SBA loan programs and his legislation to expand and improve the government's top lending programs for entrepreneurs. In an effort to expand lending to minority entrepreneurs, Kerry’s bill creates an Office of Minority Small Business Development to provide leadership at the SBA. The bill is cosponsored by Senators Levin and Barack Obama (D-Ill.).
To read Senator Kerry’s opening statement, please click here.
For more information on the legislation, please click here.
On April 18, 2007, Senator Kerry chaired a hearing to examine the difficulty many small businesses face in complying with Sarbanes-Oxley regulations. While the law has helped restore public trust in corporations, small businesses face higher costs to comply with fewer resources. Kerry called on the Securities and Exchange Commission (SEC) to give small companies additional time to comply with recently established regulations for implementing Sarbanes-Oxley internal auditing controls. Kerry and Snowe have also written to SEC Chairman Christopher Cox and Public Company Accounting Oversight Board (PCAOB) Chairman Mark Olson several times seeking an extension for small businesses and calling on the panels to take additional steps to aid small businesses.
To view the hearing, please click here.
To read the letters Kerry and Snowe sent to the SEC and PCAOB, please click here, here and here.
6. Kerry Promotes Small Business Tools to Combat Climate Change
On March 8, 2007, Senator Kerry held a hearing to examine the role small businesses can play in curbing global warming. Given that small businesses account for half the U.S. economy and roughly 50 percent of all commercial and industrial energy consumption nationwide, Kerry emphasized the need to ensure small firms receive the resources and tools they need to continue developing cutting-edge and energy efficient technologies. Kerry urged federal agencies to work together to provide small businesses information and incentives to adopt earth-friendly practices and to assist them with the costs of implementing them.
To watch the hearing and read Kerry’s statement or watch the hearing, please click here.
7. Kerry Says Small Business Budget Inadequate, Calls for Increased Funding
On February 28, 2007, Senator Kerry held a hearing on the 2008 budget for the Small Business Administration (SBA) featuring testimony from Administrator Steven C. Preston. Kerry called the Administration’s proposed budget of $464 million – 30 percent less than the agency received in 2001 – inadequate for addressing the needs of America’s 26 million small business owners and urged Preston to work to restore funding to core programs and services such as Women’s Business Centers, Small Business Development Centers, and the Microloan program, among others cuts.
To view the hearing on “The President’s FY 2008 Budget Request for the SBA,” please click here.
To read Kerry’s opening statement, please click here.
8. Committee Examines Solutions to Ease Health Care Costs for Small Businesses
Senator Kerry held a hearing on February 13, 2007, to seek comprehensive solutions for easing the burden of skyrocketing health care costs on small businesses. Kerry moved the debate beyond Association Health Plans and focused on all workable options for helping small businesses. While some states like Massachusetts are promoting innovative solutions, Kerry stressed the need for the federal government to step up to the plate to reduce health care costs for all Americans by creating a larger insurance pool while ensuring that individuals get quality coverage without regard to health status. Kerry has called for universal health coverage and continues to advocate for short-term solutions like a refundable tax credit for small firms that provide coverage for low and moderate income employees.
To watch the hearing, please click here.
To read the “Small Business Health Care Tax Credit Act” (S. 99), please click here. For more information on Kerry’s Healthy Businesses, Healthy Workers Reinsurance Act, please click here.
NEWS from the Senate Committee on Small Business and Entrepreneurship John F. Kerry, Chairman
NEWS from the Senate Committee on Small Business and Entrepreneurship John F. Kerry, Chairman
FOR IMMEDIATE RELEASE: May 16, 2007 Contact: Kathryn Seck, 202-224-9431
Small Business Lending Bill Clears Committee
WASHINGTON – Today the Senate Committee on Small Business and Entrepreneurship unanimously passed legislation to expand and improve small business loan programs. The Small Business Lending Reauthorization and Improvements Act (S. 1256) provides working capital to small businesses, loans for fixed assets and equipment through economic development corporations with a local focus, and strengthens micro-credit programs.
“These programs will leverage $87 billion in loans to America’s small businesses, filling a critical gap regular markets do not meet – especially in underserved communities,” said Senator John Kerry (D-Mass.), Chairman of the Committee on Small Business and Entrepreneurship, who called on the Bush Administration not to obstruct passage of the bill. “These very programs helped create or retain 22,000 jobs in Massachusetts last year, so this legislation is needed to help our small businesses continue to innovate, create jobs, and contribute to our economy.”
On Wednesday, May 2nd, Sen. Kerry hosted a roundtable with small businesses, lenders, advocates and Small Business Administration representatives to receive input on this legislation. The National Association of Government Guaranteed Lenders, National Black Chamber of Commerce, Association for Enterprise Opportunity, National Association of Development Companies, American Bankers Association, and Independent Community Bankers of America have endorsed S. 1256. A hearing was also held in the Committee in the 109th Congress.
Most of the provisions in the lending bill unanimously passed the Committee with bipartisan support in previous Congresses and were included in last year’s Small Business Administration reauthorization package which was blocked by the Bush Administration for consideration by the full Senate.
The Small Business Lending Reauthorization and Improvements Act:
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NEWS from the Senate Committee on Small Business and Entrepreneurship John F. Kerry, Chairman
FOR IMMEDIATE RELEASE: February 8, 2006 Contact: Kathryn Seck, 202-224-9431
Kerry Urges Bush to Support Microloans for America’s Entrepreneurs as U.S. Funds Microloans Overseas
WASHINGTON – As Congress reviews and debates the President’s proposed budget for next year, Sen. John Kerry (D-Mass.) urged the Bush Administration to fully support the Microloan Program for America’s small business owners. The last three budgets the President sent to Congress sought to eliminate the program, which lends $35,000 or less to help entrepreneurs with their start-ups and provides business counseling. The Fiscal Year 2008 budget proposal does not eliminate the program, but it provides no funding for it, shifts the costs of the program to non-profits who make the loans, and pushes the counseling onto other SBA business without providing funding. As the President has cut funding for microloans to businesses in this country, he has expanded U.S. funded microloans overseas, including Iraq.
In October 2006 Muhammad Yunus received the Nobel Peace Prize for creating the concept of microcredit to lend money to the poor in 1976, having lent about $5.7 billion to some seven million people. In 2005, the United States spent over $200 million on microloan programs in other countries. Over $54 million in microloans have been disbursed in Iraq, according to U.S. Ambassador Khalilzad and earlier this year the Bush Administration announced plans to continue to pursue a microloan program in Iraq.
“If we can fund microloans in Baghdad, we should fund microloans in Boston and every other city in America,” said Kerry, Chairman of the Committee on Small Business and Entrepreneurship. “Unfortunately the President’s budget is a tripple whammy for our micro-entrepreneurs right here at home – it raises interest rates, fails to fund the program, and cuts the important counseling assistance component that truly helps them succeed.”
The Administration’s Support for Microloans in Iraq:
“The efforts of the US government in its assistance to Iraq have been broad
based…. For example, over $54 million in micro-loans have been disbursed,
resulting in 26,700 loans in twelve cities, and the program is set to expand to
even more areas. Also, a Loan Guarantee Corporation is currently being
established to encourage private banks to make loans to small businesses.”
–Ambassador Zalmay Khalilzad, U.S. Ambassador to Iraq, May 9, 2006 (http://iraq.usembassy.gov/iraq
“We will help local leaders improve their capacity to govern and deliver
public services. Our economic efforts will be more targeted on specific local
needs with proven records of success, like micro-credit programs. And we will
engage with leading private sector enterprises and other local businesses,
including the more promising state-owned firms, to break the obstacles to
growth.” –Secretary of State Condoleezza Rice, Foreign Relations Committee
hearing on the Administration’s Plan for Iraq, January 11, 2007 (http://foreign.senate.gov
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Kathryn Seck, Press Secretary U.S. Senate Committee on Small Business and Entrepreneurship John F. Kerry, Chairman 428A Russell Senate Office Building Washington, DC 20510 Office: (202) 224-9431 Mobile: (202) 380-6508 Fax: (202) 224-5619
Sen. John Kerry Takes Over as Chairman, Announces Organizational Meeting
In his first act as Chair of the Committee, Senator John Kerry will hold the first business meeting of the Committee on Small Business and Entrepreneurship for the 110th Congress next Thursday, January 18, 2007. The meeting will be held in 428A Russell Senate Office Building and will be broadcast on http://sbc.senate.gov/.
The purpose of the meeting is to pass the Committee’s rules and adopt the Committee’s budget. With 21 years of experience on the Committee, Kerry looks forward to working with his colleagues to assist small businesses and foster the entrepreneurial spirit across the United States. By working to increase access to capital and federal contracts and by helping to enact common-sense tax proposals and small-business-friendly regulations, Kerry has proven himself a tireless advocate for small businesses. The other members of the Committee are:
Sen. Carl Levin (D-Mich.) Sen. Olympia Snowe (R-Maine), Ranking Member Sen. Tom Harkin (D-Iowa) Sen. Kit Bond (R-Mo.) Sen. Joe Lieberman (I/D-Conn.) Sen. Norm Coleman (R-Minn.) Sen. Mary Landrieu (D-La.) Sen. David Vitter (R-La.) Sen. Maria Cantwell (D-Wash.) Sen. Elizabeth Dole (R-N.C.) Sen. Evan Bayh (D-Ind.) Sen. John Thune (R-S.D.) Sen. Mark Pryor (D-Ark.) Sen. Bob Corker (R-Tenn.) Sen. Ben Cardin (D-Md.) Sen. Mike Enzi (R-Wyo.) Sen. John Tester (D-Mont.) Sen. Johnny Isakson (R-Ga.)
Kerry’s Small Business Priorities for the 110th Congress
Last week, Senator Kerry outlined some of his small business priorities for the new Congress by introducing four bills that will assist small businesses. These bills will improve the Small Business Administration’s (SBA) Disaster Loan Program, reduce health care costs for small businesses, reform the Alternative Minimum Tax, and expand opportunities for minority entrepreneurs.
Reducing Health Care Costs for America’s Small Businesses Kerry’s Small Business Health Care Tax Credit Act of 2007, would provide small firms with a refundable tax credit and would significantly improve small firms’ ability to offer health coverage for their employees.
“One of my top priorities is to reduce the skyrocketing cost of health care in this country,” said Kerry. “When it comes to small business, owners should focus on what they do best – creating jobs and contributing to the economy – instead of worrying about whether they can afford to provide health benefits. This legislation to help small businesses is a good interim step towards helping all Americans by lowering health care costs.”
The bill provides small firms with less than 50 employees a refundable tax credit to help with the cost of health insurance for employees earning $5,000 -- $50,000 a year. In order to receive the credit, the employer must pay at least 50 percent of the health care insurance premium.
Overhauling the Disaster Loan Program and Improving Disaster Response Improving the SBA Disaster Loan Program is a top priority for Senator Kerry as Chair of the Small Business Committee this year. On the first day of the 110th Congress, Kerry reintroduced bipartisan legislation with Ranking Member Olympia Snowe (R-Maine) and Committee members Mary Landrieu (D-La.) and David Vitter (R-La.) to help small businesses and homeowners better recover from disasters.
The Small Business Disaster Response and Loan Improvements Act of 2007 establishes a Private Disaster Loan (PDL) program to allow banks to make loans directly to disaster victims, requires the SBA to draft rules creating a new “expedited disaster assistance business loan program,” to provide small businesses with access to capital immediately following a disaster, creates a new presidential declaration of catastrophic national disaster to allow businesses across the country to access low interest loans in the event of a large scale disaster, and authorizes the SBA to make low interest loans to fuel dependent small businesses under extraordinary fuel price increases.
Enacting Common-Sense Tax Proposals for Small Businesses With more and more businesses being affected by the Alternative Minimum Tax (AMT), Sen. Kerry believes reforming the tax is critical to keeping small businesses competitive and successful. Kerry’s proposal, which is the same as legislation he introduced last year, expands and extends the individual AMT exemption amount for 2007 and allows nonrefundable credits against the AMT for 2007. It is revenue neutral and is offset by repealing the lower rates on capital gains and dividends for 2009 and 2010.
Expanding Entrepreneurial Opportunities in Minority Communities To create more opportunities for small business ownership in minority communities, Kerry introduced last week the Minority Entrepreneurship Development Act. This legislation establishes an Office of Minority Small Business Development at the SBA to help advocate minority small business issues within the agency, creates a competitive grant program to encourage high-achieving students at Historically Black Colleges and Universities (HBCUs), Hispanic Serving Institutions and Tribal Colleges to pursue business as a career path, and increases access to online distance learning programs for minorities.
Kerry Introduces Wireless Innovation Act
On January 9, 2007, Senator Kerry and Senator Smith of Oregon introduced the Wireless Innovation Act of 2007. This bill is designed to help make affordable and competitive high-speed Internet access available to unconnected communities throughout the country. The bill mirrors legislation that Kerry authored in the 109th Congress, which passed Committee but was not considered by the Full Senate. The legislation is particularly important for small firms in rural and underserved communities that require broadband access in order to conduct business and remain competitive. The bill requires the Federal Communications Commission to permit use of the unassigned broadcast spectrum, also referred to as “white spaces,” for new wireless broadband applications. Since more than 60 percent of the country remains unconnected to broadband services -- primarily because they are unavailable or unaffordable – Kerry’s measure will take one concrete step in offering an additional and affordable broadband option.
NEWS from the Senate Committee on Small Business and Entrepreneurship John F. Kerry, Ranking Member
For Immediate Release: July 17, 2006 Contacts: Chris Chichester (Snowe), 202-228-5843 Kathryn Seck (Kerry), 202-224-9431
Snowe, Kerry Introduce Bill To Expand Women Business Ownership
WASHINGTON – Senator Olympia J. Snowe and Senator John F. Kerry, Chair and Ranking Member, respectively, of the Senate Committee on Small Business and Entrepreneurship, have introduced bipartisan legislation, The Women’s Small Business Ownership Programs Act of 2006 (S. 3659), which will help increase the number of women-owned small businesses and strengthen the successful Women’s Business Center (WBC) Program.
“As Chair of the Senate Committee on Small Business and Entrepreneurship, my goal is to ensure that every woman who owns a small business in America - or any woman who dreams of owning one – has access to the resources and support they need to embark on that next, great entrepreneurial adventure. This legislation will help them achieve that goal,” said Senator Snowe. “The Women’s Business Center program provides the essential tools and opportunities necessary for women-owned small business to create jobs and compete in the global economy. In my home state of Maine more than 63,000 women-owned firms generated an astounding $9 billion in sales, according to the Center for Women’s Business Research.”
“Women entrepreneurs are driving innovation in our country, and Women’s Business Centers are a tool that helps them keep America competitive. These centers help turn business plans into business success. We can keep this momentum going, and help women entrepreneurs succeed if we make a real commitment to small businesses in Washington,” said Kerry.
The Women’s Small Business Ownership Programs Act of 2006 allows new Women’s Business Centers to receive an initial four-year grant, with only the proven, successful centers able to receive additional three-year renewal grants. Thus, experienced centers will not be forced to shut down due to a lack of funding and women will continue receiving assistance from both new and existing WBCs. This concept of sustaining centers beyond their initial grant cycle was introduced by Senator Kerry in 1999 in his Women's Business Center Sustainability Pilot Program. Senator Snowe was a cosponsor of that legislation.
The proposal also improves the independent National Women’s Business Council, which advises the President and Congress on issues affecting female entrepreneurs, by ensuring the Administration makes bipartisan appointments and by allowing the Council to take a more active role in business research and promotion. To increase the involvement of the women’s business community, the legislation calls for more consultation with the Association of Women’s Business Centers, the National Women’s Business Council and the Interagency Committee on Women’s Business Enterprise.
According to the Small Business Administration (SBA) which runs the WBC program, there are more than 9 million women-owned businesses employing 27.5 million people and contributing $3.6 trillion to the economy.
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NEWS from the Senate Committee on Small Business and Entrepreneurship John F. Kerry, Ranking Member
FOR IMMEDIATE RELEASE: May 24, 2006 Contact: Kathryn Seck, 202-224-9431
Government Dismantles Veterans Small Business Contracting Office, Terminates Veterans’ Advisory Committee
WASHINGTON – Senator John Kerry (D-Mass.) today voiced his concerns about two severe actions taken by the Bush Administration, turning its back on the veteran’s community during a time of war. Without consultation or notification, the Bush Administration has closed its office at the Small Business Administration (SBA) solely dedicated to helping veteran-owned small businesses gain access to federal contracts. The Administration has also informed the Veterans Advisory Committee, another group dedicated to helping veteran small business owners, that their charter will not be extended and instead will expire this September. These unprecedented moves hurt America’s veteran entrepreneurs and raise serious questions about the Administration’s commitment to comply with federal law.
“The Administration finally informed us three weeks late that thieves walked off with the Social Security Numbers and personal information of over 26 million veterans, but the Bush administration has failed to come forward publicly to announce they recently decided to close the SBA’s Veterans Office and disband the Veterans Advisory Committee. This complete lack of commitment to our veterans is really appalling, especially just before Memorial Day,” said Kerry, Ranking Democrat on the Senate Committee on Small Business and Entrepreneurship.
In closing the contracting assistance office, the Small Business Administration (SBA) has eliminated the one office solely dedicated to implementing a law that requires three percent of all federal contracting dollars to be awarded to service-disabled veteran owned firms. The government has failed to meet this goal and has also failed to develop and support the Veteran’s Advisory Committee, as required by law passed in 1999. Last year, the federal government awarded just .38 percent of contract dollars to companies owned by service-disabled veterans, costing them nearly $9 billion in lost contracts.
“It is shameful that in a time of war, the Administration saw fit to abandon our commitment to those who have honorably served our country – and the brave men and women serving today who will be the proud veterans of tomorrow. Now, it should be our turn to serve them, by protecting their personal information and by providing them with opportunities to start a business, or rekindle businesses that are struggling from recent deployments in Iraq and Afghanistan,” said Kerry.
Joe Wynn, President of the VETs Group and executive member of the Task Force for Veterans Entrepreneurship, said, “Despite the best efforts of the Task Force and other veteran's groups to work with the SBA to help make the Veterans Procurement Program under PL 108-183 become a success for the government and for the service disabled veteran business owners that it was designed to serve, the SBA continues to demonstrate a seemingly disregard for carrying out the President's Executive Order, 13-360, which instructed the SBA to provide information, federal procurement training, and assistance to increase participation in federal contracting for service disabled veteran business owners.”
Bob Hesser, also a member of the Task Force for Veterans Entrepreneurship, and President of Vetrepreneur, LLC a Service-Disabled Veteran-Owned small business said, “During the short time the SBA's Veteran's office existed there were meaningful actions that gave us a belief that someone cared. I am just not sure of that today!”
The SBA has also failed to respond to a letter sent on February 27, 2006 from Senator Kerry and Senator Daniel Akaka (D-Hawaii), Ranking Member of the Veterans’ Affairs Committee, regarding their role in implementing the Veteran’s Benefits Act of 2003.
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NEWS from the Senate Committee on Small Business and Entrepreneurship John F. Kerry, Ranking Member FOR IMMEDIATE RELEASE: February 16, 2006 CONTACT: Kathryn Seck, (202) 224-9431
Kerry Calls on |
