Senate Proceeding on May 19th, 2009 :: 1:48:15 to 1:54:14
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1:48:12 to 1:48:15( Edit History Discussion )

Harry Reid: the backbone of american free enterprise system. these are the family businesses

1:48:15 to 1:54:14( Edit History Discussion )
Speech By: Mary Landrieu

1:48:16 to 1:48:37( Edit History Discussion )

Mary Landrieu: throughout the country whose thread still weaves the american dream, the dream of working for yourself, being your own boss, setting your own hours, never working less than you would probably in a large company, alwa rewarding. a business you can pass down to your children and grandchildren who earn their way in the business.

1:48:38 to 1:48:59( Edit History Discussion )

Mary Landrieu: this is what keeps the spirit of america going forward. these are e businesses that we honor this week. they are the technological start-ups tt produce cutting-edge clean-energy sources, advances, and provide safer equipment for our troops

1:49:00 to 1:49:20( Edit History Discussion )

Mary Landrieu: protecting our way of life. they make materials that build new schools and better homes and businesses that fix our roads and our bridges. these are the small entrepreneurs out there that we honor this week. madam president, as you and our other colleagues know, small businesses are in a world of

1:49:21 to 1:49:41( Edit History Discussion )

Mary Landrieu: hurt. they're in trouble. they're in very, very troubled waters, very, very difficult times. as american consumers pinch pennies to pay the bills, small business owners scramble to pay their own bills. entrepreneurs are being unfortunately, turned

1:49:42 to 1:50:03( Edit History Discussion )

Mary Landrieu: many traditional capital sources. many of these small businesses have never in their history of business missed a payment or been late on a payment. yet, we're hearing some very sad and troubling stories in the small business committee, one like robert cockerham, whose wife i believe so was with

1:50:04 to 1:50:25( Edit History Discussion )

Mary Landrieu: if my memory serves. he is a car dealer, took his life savings and started car world. like many business owners, he put everything into this business. he became one of the highest-selling dealerships in new mexico, exicting opportunity for he and his family. but yet, ashis recession has

1:50:26 to 1:50:47( Edit History Discussion )

Mary Landrieu: unfolded, he was forced to close some of his dealerships, lay off workers. he thought that most of his tough decisions were behind only to find that a bank came in and constructed his -- constricted his line of credit. he had never missed a payment or been late. unfortunately now his business is in a very dire situation.

1:50:48 to 1:51:10( Edit History Discussion )

Mary Landrieu: that is why i us to press forward on everythi we all business administration, through the stimulus package, trying to reach business owners like this that have not done anything wrong. they've sim in one of the worst economic downturns in recent memory.

1:51:11 to 1:51:32( Edit History Discussion )

Mary Landrieu: we need to do more, and we will. that's what our efforts are here today in the previous weeks and hopefully in the weeks to come. i'm proud to say that we've taken some important steps, but we need to do so much more. the american recovery and reinvestment act took bold steps to increase access to capital

1:51:33 to 1:51:54( Edit History Discussion )

Mary Landrieu: for our nation's entrepreneurs. in the small business committee, we worked to temporarily eliminate fees on s.b.a. loans. i'm proud week that that new rule went into effect, we saw an immediate uptick of

1:51:55 to 1:52:15( Edit History Discussion )

Mary Landrieu: made through the s.b.a. because of the reduction, temporary reduction and elimination of those fees. stimulate new lending and will continue, hopefully, to do so. we think based on what is in the recovery act that it will about $16 billion in new loans

1:52:16 to 1:52:37( Edit History Discussion )

Mary Landrieu: and venture capital to small businesses in america. i continue to be concerned, however, about the road ahead for so many of our small the state, madam president, that you're representing, but in louisiana as well where our unemployment is lower t

1:52:38 to 1:52:58( Edit History Discussion )

Mary Landrieu: nonetheless ou businesses are struggling. so we must double our efforts. want to work with my colleagues in the house to reauthorize the small business administration and its critical programs. these initiatives have assisted entrepreneurs in starting and growing their were responsible, according to

1:52:59 to 1:53:19( Edit History Discussion )

Mary Landrieu: our records, for 1.5 million jobs created or sustained last year. one of these small business owners is bob baker, the owner of baker sales, a pipe and fence stribute tor in louisiana and the state's small business owner of the year. i'd like to ask unanimous consent for a minute. the presiding officer: without objection. ms. landrieu: thank you.

1:53:20 to 1:53:40( Edit History Discussion )

Mary Landrieu: i met bob baker just yesterday. he encourages his employees to take advantage of the free classes the local small development center offers. he has taken advantage of the center's counseling to cope with financial difficulties. these day doing better than most small business owners. haoebs stabilized his line --

1:53:41 to 1:54:05( Edit History Discussion )

Mary Landrieu: he's stabilized his line of credit at a chase bank but you knows right now he can't expand because of the current situation. but, madam president, let me say this recession -- and i believe we will -- it is going to be because small business pulls us out. not the giant corporations, not the multinationals.

1:54:06 to 1:54:15( Edit History Discussion )

Mary Landrieu: but the entrepreneurs that will put their face to the wind and move forward in difficult times. and the least we can do is reauthorize our small business administration, make it