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Senate Proceeding on Jul 28th, 2010 :: 7:48:45 to 7:58:35
Total video length: 9 hours 33 minutes Stream Tools: Stream Overview | Edit Time

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Amy Klobuchar

7:48:42 to 7:49:03( Edit History Discussion )

Amy Klobuchar: quorum call: the presiding officer: the senator from quorum call be vitiated. the presiding officer: without objection. ms. klobuchar: mr. president, i come to the floor today in support of the small business jobs bill which is moving through the senate. i would first like to say how much i appreciate senator landrieu of louisiana, her leadership on this bill, as well as the members of the small business committee who have

Amy Klobuchar

7:48:45 to 7:58:35( Edit History Discussion )
Speech By: Amy Klobuchar

Amy Klobuchar

7:49:04 to 7:49:25( Edit History Discussion )

Amy Klobuchar: worked incredibly hard to bring this bill to the point that it's ready to get voted on. when we first began discussing how we could help our small businesses deal with the issues they face inhis difficult economy, i spent a lot of time going around my state and actually talking to those that run small businesses, that work in small businesses to get some

Amy Klobuchar

7:49:26 to 7:49:47( Edit History Discussion )

Amy Klobuchar: ideas of what would really work, and now is when i h time again about how they desperately needed capital. in fact, according to the national federationf independent businesses, 45% of small businesses in america say adequate access to capital is thr number-one problem. i think this is summed up well

Amy Klobuchar

7:49:48 to 7:50:08( Edit History Discussion )

Amy Klobuchar: by a letter i got from a constituent. he founded his first real estate company over 20 years ago, and when the market went south, he didn't just tighten the hatches, he actually invested his savings in a new home-staging business to help people get their homes ready to p on the market. while his new business is

Amy Klobuchar

7:50:09 to 7:50:29( Edit History Discussion )

Amy Klobuchar: profitable, he still can't get credit. in the letter to me, he said, "i have approached ove ten banks and guaranteed a loan using my building with a free and clear title and have been turned down by every bank. the answer to growing the economy and creating jobs is getting the banks to lend to low-risk entrepreneurs like me."

Amy Klobuchar

7:50:30 to 7:50:51( Edit History Discussion )

Amy Klobuchar: the great thing is that our community banks agree. last week on the floor, i read a letter i received from harry walquist of star bank in bertha, minnesota. as you can imagine, bertha is not exactly a major metropolis, mr. president. new york city is not bertha, minnesota. i just want to read it again

Amy Klobuchar

7:50:52 to 7:51:12( Edit History Discussion )

Amy Klobuchar: because i think it drives home the point that there is broad consensus that this bill is what we need. in this letter, the banker from bertha said this. he said, "i'm a banker and need capital to continue serving my nine minnesota towns. please pass the small business lending bill now. you gave money to wall street.

Amy Klobuchar

7:51:13 to 7:51:33( Edit History Discussion )

Amy Klobuchar: how about main street in minnesota?" this is what this bill will do. it will it does it with more than a number of provisions to expand access to credit. it provides for 100% exclusion on capital gains taxes on small business investments made in 2009 and 2010. it increases the maximum

Amy Klobuchar

7:51:34 to 7:51:55( Edit History Discussion )

Amy Klobuchar: deduction for business start-up expenses to help entrepreneurs get their businesses off the ground. it allows businesses of all sizes to write off more of their investments in property and equipment toelp them grow. provisions like these are why this bill has such broad support, whether it is the chamber of commerce or the independent community bankers of

Amy Klobuchar

7:51:56 to 7:52:16( Edit History Discussion )

Amy Klobuchar: america, they want us to work together to pass this bill. we have gotten this economy off the cliff, mr. president. we have worked with our banks and our financial institutions two years ago. we also worked with the stimulus bill with recovery. we know the answer here can't just be government jobs. we know that. know that. what we're looking at here is how do we work with small

Amy Klobuchar

7:52:17 to 7:52:38( Edit History Discussion )

Amy Klobuchar: businesses that create 65% of the jobs in this country, how do we work with the private sector to create jobs? another reason we need this bill is that it helps small business increase demand for their products and services. at a time of sluggish consumer spending, we need to be sure all american businesses both big and small have a chance to reach new

Amy Klobuchar

7:52:39 to 7:52:59( Edit History Discussion )

Amy Klobuchar: customers abroad because when our companies are able to unlock new markets, they are also able to create new jobs. currently, the u.s. derives the smallest percentage of our g.d.p. from exports compared to other major economies. the smallest, the smallest percentage when you look at other economies across the world.

Amy Klobuchar

7:53:00 to 7:53:20( Edit History Discussion )

Amy Klobuchar: but it's clear that potential exports hold as people in china and india and other countries gain more purchasing power, there is great potential for exports in this country. because the people in these countries, in china and india and these people who are gaining the purchasing power, they will become our potential customers. more exports will mean more businesses, more jobs, more

Amy Klobuchar

7:53:21 to 7:53:41( Edit History Discussion )

Amy Klobuchar: growth for the american economy, so you can finally go in the store, look at the best good for the best price and you turn it over and it says "made in the u.s.a." and you see that good on the shelves in china and you see it in india. first and most obviously, exports allow a company to increase its sale and grow a business.

Amy Klobuchar

7:53:42 to 7:54:02( Edit History Discussion )

Amy Klobuchar: second, a diversified base of customers helps a business weather the economic ups and downs. currently,ess than 1% of all american businesses export overseas, and of those that do, nearly 60% sell their products to only one foreign country. that would be canada or mexico. with 95% of potential customers outside our borders and with the

Amy Klobuchar

7:54:03 to 7:54:24( Edit History Discussion )

Amy Klobuchar: purchasing power that they have increasing, it is clear the opportunities that lay in exporting for our businesses large and small are there. but for many businesses, especially the small and medium-sized ones, the world looks li maps that contains only the outlines of the continent and a few coastline features, but the

Amy Klobuchar

7:54:25 to 7:54:45( Edit History Discussion )

Amy Klobuchar: rest of it is a blank space of vast unknown and unelored territory. but do you know what? 30%, 30% of our small and medium-sized businesses say they would like to export, if they knew how, if they had the connections. in many situations, our small and medium-sized businesses have the products, have the services.

Amy Klobuchar

7:54:46 to 7:55:07( Edit History Discussion )

Amy Klobuchar: they simply can't deal with the complexity of the international markets. the overwhelming majority of businesses, even those that went to export, don't know about the export promotion services offered by our federal agencies, and they don't know where to begin in order to make use of these services. to help blunt the learning curve for these businesses, senator lemieux and i introduced legislation which is included in

Amy Klobuchar

7:55:08 to 7:55:28( Edit History Discussion )

Amy Klobuchar: this small business bill to make sure companies have the capital and tools they need not only to continue exporting but to expand the reach for those 95% of customers that are located outside of the borders of the united states. if we really want to get out of this economic slump, mr. president, we have to look outsid of our borders.

Amy Klobuchar

7:55:29 to 7:55:49( Edit History Discussion )

Amy Klobuchar: we have to look at the customers across the world. now, first of all, this bill increases the activities and staffing of the department of commerce's u.s. foreign and commercial service officers in carrying out their mission. secondly, it expands the rural export division which helps rural businesses expand international opportunities.

Amy Klobuchar

7:55:50 to 7:56:11( Edit History Discussion )

Amy Klobuchar: every dollar invested creates $213 in rural exports. now, that is a return on investment. it does so by helping businesses to prepare them for profitable growth in global markets. it fuses on locating and targeting new markets, the mechanics of exporting, including shipping, documentation, financing. mr. president, my state is now

Amy Klobuchar

7:56:12 to 7:56:32( Edit History Discussion )

Amy Klobuchar: seventh in the country for fortune 500 companies, but these companies didn't start big. medtronic started in a garage. 3m started in a small area. and target also. and they grew and they grew and they grew. a lot of how they grew was

Amy Klobuchar

7:56:33 to 7:56:53( Edit History Discussion )

Amy Klobuchar: exporting their products, sending medical devices to places like china and india. you know what? it's a lot easier for big companies to do it because they have the staff to do it. it's a lot harder for small and medium-sized companies. i saw success in our state. a little company up in southern minnesota near austin,

Amy Klobuchar

7:56:54 to 7:57:14( Edit History Discussion )

Amy Klobuchar: minnesota. ackerman's named after darryl ackerman who is there now, the son of the owner. he has been named, mr. president, the trenchless digger of the year in the united states, and he has a product and it is a big one. he puts big steel piping underground, pushes piping through to do trenchless digging. well, guess what? countries like china and india

Amy Klobuchar

7:57:15 to 7:57:36( Edit History Discussion )

Amy Klobuchar: that have a lot of people on the surface of don't want to dig up big trenches. they want to do trenchless digging. in the middle of a cornfield, he has grown from a few dozen employees to 77 employees all because of exports. matrex in the moose capital of minnesota, carlston, minnesota, has grown from five employees to

Amy Klobuchar

7:57:37 to 7:57:58( Edit History Discussion )

Amy Klobuchar: 50 simply by driving toargo, north dakota, meeting with a woman named heather who is with the foreign commercial service and finding out what potential customers they had from turkey to kazkstan. that's what we're talking about here, exports, and i am so proud that the small business bill includes some major provisions, the bill that sator lemieux and i introduced in commerce, we got it through the committee and

Amy Klobuchar

7:57:59 to 7:58:22( Edit History Discussion )

Amy Klobuchar: is now on this small business bill. it's going to make a world of difference so that small businesses can access a world of opportunity. thank you, mr. president. i yield the floor. i note the presiding officer: the clerk will call the

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