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Senate Proceeding on Mar 28th, 2011 :: 1:57:45 to 2:07:45
Total video length: 4 hours 34 minutes Stream Tools: Stream Overview | Edit Time

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Mary Landrieu

1:57:42 to 1:58:02( Edit History Discussion )

Mary Landrieu: so, mr. president, with that, i ms. landrieu: mr. president? the presiding officer: the senator from louisiana. ms. landrieu: mr. president, i'd just follow up with just a few brief comments, and i think the transition here is important and worth noting and i am so glad that ranking member snowe made reference to this, that the two of us are on the floor not

Mary Landrieu

1:57:45 to 2:07:45( Edit History Discussion )
Speech By: Mary Landrieu

Mary Landrieu

1:58:03 to 1:58:24( Edit History Discussion )

Mary Landrieu: just to reauthorize because it is the time for reauthorization but because this program works, because it's cost-effective, and because it actually is a job creator. and it creates jobs in the private sector not necessarily the public sector, although there's some public-sector jobs

Mary Landrieu

1:58:25 to 1:58:46( Edit History Discussion )

Mary Landrieu: associated with that that are crucial and important. people in the agencies working on identifying this new technology. but the lion's share by far of these jobs are being created in the private sector. and i wanted to show you what our challenge is. here you can see both president bush and president obama extraordinary challenges.

Mary Landrieu

1:58:47 to 1:59:08( Edit History Discussion )

Mary Landrieu: this is the monthly changes in private payroll, season rally adjusted from january 2008 when this recession began until today. you can see it's just absolutely a dramatic loss of private payroll, reductions in private payroll. this is representing a substantial job losses.

Mary Landrieu

1:59:09 to 1:59:31( Edit History Discussion )

Mary Landrieu: but as you can see, mr. president, it is just now in april 2010, july 2010, and now to the present to february of 2011 -- i know we're into march, but this doesn't have the final month or two on here -- you can

Mary Landrieu

1:59:32 to 1:59:53( Edit History Discussion )

Mary Landrieu: see that we're making tremendous progress in turning this around. again, this is the monthly change in private payroll. this represents the teeth of the great recession that caught so many businesses off guard, large and small. and there are many reasons why this, you know, recession happened and the collapse of our

Mary Landrieu

1:59:54 to 2:00:15( Edit History Discussion )

Mary Landrieu: financial markets, but that's not the subject of this debate. what is the subject of this debate is how do we get out of it. how do we create jobs in the private sector? and senator snowe and i are proud to have brought several bills to this floor, this one being the latest, that we believe can contribute to the increase in private payroll. and i just want to be clear because many of our colleagues

Mary Landrieu

2:00:16 to 2:00:36( Edit History Discussion )

Mary Landrieu: have been challenging, and i think appropriately, why can't we eliminate some government programs? why do we have to keep them all? senator snowe and i have jointly recommended the elimination of two relatively small but we recommended the elimination of two programs within the s.b.a., and we'll be reviewing just this

Mary Landrieu

2:00:37 to 2:01:00( Edit History Discussion )

Mary Landrieu: week, with the administrator of the s.b.a., the efficiency of their whole budget. and if we can find other places and other programs to eliminate that aren't hitting their marks, that aren't meeting their goals, we are committed to work together to do that. but this program, we have not -- we have reshaped, we have modified and we have improved,

Mary Landrieu

2:01:01 to 2:01:22( Edit History Discussion )

Mary Landrieu: and we are strongly and passionately recommending its reauthorization for eight years. we have together reviewed nine studies of the national research council, studies by the government accountability office to help guide our committee in the drafting of this bill.

Mary Landrieu

2:01:23 to 2:01:44( Edit History Discussion )

Mary Landrieu: and we have included many additional policy goals and some former goals and appropriate interest to balance. we wanted to improve the diversity of the programs geographically and otherwise so that more states and more individuals could participate. we also wanted to maintain a fair playing field so true small businesses could continue to

Mary Landrieu

2:01:45 to 2:02:06( Edit History Discussion )

Mary Landrieu: compete for this very small but important percentage of overall r&d. we wanted to encourage exploration of high-risk, cutting-edge research. as dr. charles wessner, the lead assessment advisor on this program said, if every program

Mary Landrieu

2:02:07 to 2:02:27( Edit History Discussion )

Mary Landrieu: that you give money to is working, you're not running your program correctly, senators, because this is a high-risk, early funding where it is the most difficult funding for these businesses to receive. now obviously, mr. president, once they show promise, there are any number of investors and capital out there looking right now for good investments,

Mary Landrieu

2:02:28 to 2:02:48( Edit History Discussion )

Mary Landrieu: particularly right here in the united states of america. so at a certain point, at a certain level, with certain proven technologies, there's another venture capital out there to take these programs to the next level. but what's not there right now is that first dollar, that early $150,000 grant that says we

Mary Landrieu

2:02:49 to 2:03:10( Edit History Discussion )

Mary Landrieu: think you have something of promise. go ahead and try it. they try it for a year or two. they come back, they can get another $150,000, up to $1.5 million. and then eventually it either collapses because it wasn't what people thought, and that money is lost. but the great news is

Mary Landrieu

2:03:11 to 2:03:32( Edit History Discussion )

Mary Landrieu: collectively, money makes money for the taxpayer, not loses money. although not every grant is successful, we wouldn't want that. this is an early form of capital but it is a smart use of taxpayer dollars. that's why senator snowe and i enthusiastically recommend it.

Mary Landrieu

2:03:33 to 2:03:55( Edit History Discussion )

Mary Landrieu: it has been supported by every president. president reagan was supportive, president bush was supportive, president clinton has been supportive, and now president obama has signaled his support as well. so we are very proud to be able to present this. and i'd like to just submit for the record again another report from, on small business, the state of small business. not the entire report, but some

Mary Landrieu

2:03:56 to 2:04:16( Edit History Discussion )

Mary Landrieu: parts of it that are central to this debate; sponsored by network solutions, the university of maryland, robert h. smith school of business. it says that interestingly enough, after small businesses have reached a low point in the summer, the report opens, it says "technological investment is on the rise.

Mary Landrieu

2:04:17 to 2:04:37( Edit History Discussion )

Mary Landrieu: technology investment is on the rise. social media adoption continues to grow. despite poor competitive health, owners are becoming increasingly optimistic about the economy and their future business success. significantly, over a quarter of small businesses surveyed" -- they have been taking this survey since the recession

Mary Landrieu

2:04:38 to 2:04:58( Edit History Discussion )

Mary Landrieu: started. "a quarter plan to add staff in 2011. if they carry out their plans, they will create 3.8 million jobs." so again, mr. president, it's the magic of small business. we have 27 million small businesses if every one of them obviously

Mary Landrieu

2:04:59 to 2:05:19( Edit History Discussion )

Mary Landrieu: created just one additional job, that would be 27 million more jobs, and we could use it. that's not going to happen. but if everyone just created one. so if a portion of them add one job to their bottom line, we know that can have an impact. and it's programs like this

Mary Landrieu

2:05:20 to 2:05:42( Edit History Discussion )

Mary Landrieu: that's getting capital at their local bank, it's being able to access credit through credit cards that have reasonable charges and transparent charges, which i'm proud to have been a part of helping. and it's also getting access for new technologies to find a friend -- a friend -- at the federal government to step up

Mary Landrieu

2:05:43 to 2:06:03( Edit History Discussion )

Mary Landrieu: and help them to grow their business. so we strongly recommend this program. i'm going to yield the floor for this time. we do have several amendments that are pending and have to organize those votes sometime this week. we have over 89 amendments that have been filed. but we're really hoping that some of the members, if they

Mary Landrieu

2:06:04 to 2:06:24( Edit History Discussion )

Mary Landrieu: don't feel like they have to offer those amendments, would withdraw them. some of them are not germane to this bill. we'd like to keep this bill very focused on small business. i do want to join senator snowe in support of the repeal of 1099 which is represented by the johanns amendment and senator menendez may have a perfecting

Mary Landrieu

2:06:25 to 2:06:48( Edit History Discussion )

Mary Landrieu: amendment to that, i understand. and i look forward to working with senator johanns and senator menendez to get that regulatory burden lifted off of the backs of small business. it doesn't go into effect until 2012, but small businesses around the country are quite alarmed, as they should be, in my view, that that additional paperwork would be required.

Mary Landrieu

2:06:49 to 2:07:09( Edit History Discussion )

Mary Landrieu: so there's fairly across-the-board support on both sides of the aisle for that repeal. and i hope that we can get that done sometime this week as well, either specifically attached to this bill or parallel to this effort, because it's a very important effort for small businesses to get that 1099 requirement, a new requirement,

Mary Landrieu

2:07:10 to 2:07:34( Edit History Discussion )

Mary Landrieu: repealed as well as getting this bill passed. an yield the floor. the presiding officer: the clerk will call the roll.

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