Video archive of the US Congress

Senate Proceeding on Aug 5th, 2010 :: 9:20:25 to 9:30:09
Total video length: 12 hours 32 minutes Stream Tools: Stream Overview | Edit Time

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Mary Landrieu

9:20:15 to 9:20:35( Edit History Discussion )

Mary Landrieu: senator from louisiana. ms. landri: thank you, mr. pres i'd like to speak for just a minute on an issue that is still pending before this body, and unfortunately looks like we won't be able to wrap this up in the next few hours, but it looks encouraging that we might be able to take this up immediately

Mary Landrieu

9:20:25 to 9:30:09( Edit History Discussion )
Speech By: Mary Landrieu

Mary Landrieu

9:20:36 to 9:20:57( Edit History Discussion )

Mary Landrieu: when we come back in september. before i speak about that, i would like to compliment senators lincoln, senator casey who just spoke, the senator from pennsylvania, senator harkin and others who have come to the floor in just the last few hours but have been working literally

Mary Landrieu

9:20:58 to 9:21:18( Edit History Discussion )

Mary Landrieu: for months if not years on this child nutrition bill. it really is quite eraordinary that this chamber at this late hour, because of the work of senator lincoln, senator harkin, senator casey and others, has decided by unanimous consent to pass a significant and major piece of legislation that the senator from pennsylvania just

Mary Landrieu

9:21:19 to 9:21:40( Edit History Discussion )

Mary Landrieu: beautifully described. so i want to compliment all of them for their work. i wish we had been able to do the small -- the same thing for the small business bill that we have been fighting for small business job creation act of 2010, but we can't seem to

Mary Landrieu

9:21:41 to 9:22:01( Edit History Discussion )

Mary Landrieu: get to a point where we can get unanimous consent so we're going to have to fight this out a step at a time. we had some very significant votes this last week by including a republican amendment, including in the small business bill a $30 billion lending program.

Mary Landrieu

9:22:02 to 9:22:23( Edit History Discussion )

Mary Landrieu: we have potentially other aspects to strengthen, but the bill is in extremely good shape i wanted to just put up for a visual, i know p it hard to believe that we can have literally over 100 organizations an extraordinarily

Mary Landrieu

9:22:24 to 9:22:44( Edit History Discussion )

Mary Landrieu: strong and powerful bipartisan, conservative, moderate and liberal organizations supporting small business. it may seem surprising that with all this support, we couldn't pass the bill before we leave. i just want to call out again just a few. the american hotel and lodging

Mary Landrieu

9:22:45 to 9:23:05( Edit History Discussion )

Mary Landrieu: association, the american international automobile dealers association, the associated builders and contractors of california, the california bankers association, engineering contractors, hispanic bankers of texas, national association of self-employed, national restaurant association,

Mary Landrieu

9:23:06 to 9:23:26( Edit History Discussion )

Mary Landrieu: recreation vehicle industry association, the u.s. hispanic chamber of commerce. i just listed a half dozen or a dozen, but you can see we have hundreds of extraordinary organizations that have stepped up to say what i have been saying, what the senator from washington, senator cantwell has been saying, what the senior

Mary Landrieu

9:23:27 to 9:23:49( Edit History Discussion )

Mary Landrieu: senator from washington, senator murray, senator boxer, senator merkley. we are not going to end this recession until we find a way to get capital and cash in the hands of small business who will lead the way out of this discretion. it is not going to be led by wall street. it's going to be led by main street.

Mary Landrieu

9:23:50 to 9:24:10( Edit History Discussion )

Mary Landrieu: and i'd like to put up our main street sign. main street is going to lead the way. there was a beautiful article written, and i'd like to submit it for the portion of it into the record by harold myerson.

Mary Landrieu

9:24:11 to 9:24:33( Edit History Discussion )

Mary Landrieu: it was august 4 in "the washington post." the article is entitled jobs in the cards. al american big business is doing just fine, thank you. profits, productivity and exports are up. new hires, rehires, and wage increases, as i have written,

Mary Landrieu

9:24:55 to 9:25:15( Edit History Discussion )

Mary Landrieu: business, which inhabits those less rarified realms of the economy in which depressed domestic demand and bottled up credit remain a mortal threat. the great private sector trickledown machine has largely stopped working for small business. he's right, and if we don't get

Mary Landrieu

9:25:16 to 9:25:36( Edit History Discussion )

Mary Landrieu: small business started up again an focus on them and help them, this recession will never come to an end. maybe that's what some people on the other side of this aisle want. maybe they put politics before progress. but this is dangerous, it's wrong and it's painful.

Mary Landrieu

9:25:37 to 9:25:58( Edit History Discussion )

Mary Landrieu: and we have got to figure out a way, and the bill that we have put forward, supported by the hundreds of organizations, have found a way forward. i'd like to submit the rest of this beautifully written article to the record. i want to also submit to the record another editorial by mr. richard nieman.

Mary Landrieu

9:25:59 to 9:26:19( Edit History Discussion )

Mary Landrieu: i submitted this yesterday, i'm going to submit it again because it's so good. he says unlike tarp -- this was in "the wall street journal," who was mistakenly editorialized against this bill, but there are people signing letters to the "wall street journal" right now trying to get them to take a second look. richard nieman is one of them.

Mary Landrieu

9:26:20 to 9:26:40( Edit History Discussion )

Mary Landrieu: he says unlike tarp, the s.b.a. would incentivize banks to lower the dividend rate at which banks must repay the government if the banks meet lending performance metrics. further, our small business lending fund removes the tarp stigma that discouraged small banks from participating in government programs that support lending. it is these banks that are the

Mary Landrieu

9:26:41 to 9:27:01( Edit History Discussion )

Mary Landrieu: primary source of credit for small business which lack the same access to capital markets as large companies. he concludes the sblf is not a sequel to tarp, but it can be a segue toward a stronger future for our businesses and their employees. i also want to submit to the

Mary Landrieu

9:27:02 to 9:27:22( Edit History Discussion )

Mary Landrieu: record another very nice article that appeared in "the wall street journal." again, not an editorial, but by ruth simon, one of their reporters, who outlines a particular story about pinnacle bank and which is basically in support of our bill. this is a support about a bank in florida, and it will be in the record for people to read.

Mary Landrieu

9:27:23 to 9:27:43( Edit History Discussion )

Mary Landrieu: and finally, another article written by the "miami herald" by barbara barrett that goes on to say the u.s. sate might leave town this week without finishing up what democrats had hoped would be a significant political achievement. on its face, the legislation would pour billions into a slate

Mary Landrieu

9:28:06 to 9:28:27( Edit History Discussion )

Mary Landrieu: i want to say in conclusion the small business bill, the main street bill, has $12 billion of tax cuts for small business. democrats are for tax cuts for small businesses that will help them to create the jobs we need. very targeted, very strategic, very thoughtful, very careful

Mary Landrieu

9:28:28 to 9:28:48( Edit History Discussion )

Mary Landrieu: and focused on reducing the deficit as well. all i hear from the other side is extend tax cuts permanently to everybody, to heck with the deficit, who cares if we get to a balanced budget? we want to go back to the way things were. we don't want to go back to the way things were. we want to go forward on a new way with sound fiscal policy,

Mary Landrieu

9:28:49 to 9:29:10( Edit History Discussion )

Mary Landrieu: balanced budgets, focused on ma street, focused on small business, and that's what democrats and some, a handful of our republican colleagues unfortunately not enough to get the job done. so, mr. president, i submit these for the record. i thank the great coalition of senators that have helped.

Mary Landrieu

9:29:11 to 9:29:31( Edit History Discussion )

Mary Landrieu: and one more, i'm sorry, i want to submit an article by jeff co cnbc, four things that can help companies start hiring again. he talks about positive momentum. loans to small business, foreign demand, and i might say one of the great things in our bill -- and i want to mention this because it doesn't get mentioned enough. i'm not sure that we have the

Mary Landrieu

9:29:32 to 9:29:52( Edit History Discussion )

Mary Landrieu: export chart. but one of the things that he mentions is american consumers, even those with jobs and savings, he said, are focused on paying down debt, not greasing the economic kids. as such, job markets may have to rely on low export prices and consumers in robust developing economies to help generate demand. he is correct.

Mary Landrieu

9:29:53 to 9:30:10( Edit History Discussion )

Mary Landrieu: we're going to have to rely on markets outside of the unid states to sell our goods there and pull ourselves out of this recession. do you think small businesses get the least amount of help with exports, mr. president? no, they don't. in our bill, we have extra support for the department of

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