Temporary Extension Of Authorization Of Programs Under Small Business Act And Small Business Investment Act of 1958
Floor Speech
TEMPORARY EXTENSION OF AUTHORIZATION OF PROGRAMS UNDER SMALL BUSINESS ACT AND SMALL BUSINESS INVESTMENT ACT OF 1958 -- (House of Representatives - February 07, 2007)
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Mr. CHABOT. Mr. Speaker, I yield myself such time as I might consume.
This bill simply, as the chairwoman indicated, extends all the programs, including pilot programs, the authorities or provisions of the Small Business Act and the Small Business Investment Act as they are presently constituted until July 31 of this year. The programs and authorities of the Small Business Administration expired on February 2. We would have preferred a longer extension, but the other body insisted on a shorter extension date of July 31.
Passage of this bill will hopefully give the Small Business Committees in both the House and the Senate the time necessary to work in a bipartisan manner on a more comprehensive SBA reauthorization bill.
Many of the programs of the SBA do not operate under a direct appropriation. This legislation will reaffirm their legality to operate, including the Advisory Committee on Veterans Business Affairs.
Mr. Speaker, this bill is quite simple. It contains the exact same language, with only the date changed, that passed the House last month by an overwhelming vote of 413-2.
Again, I look forward to working in a bipartisan manner with Chairwoman Velázquez and other committee members to produce a good, fiscally responsible SBA reauthorization bill that can eventually be signed into law by the President. I especially want to thank Chairwoman Velázquez for her graciousness in agreeing to bring up this bill in such a quick manner.
I urge my colleagues to support H.R. 434 with the Senate amendments so that our Nation's small businesses will see no interruption of service from the SBA over the next 5 months while we work to adopt a comprehensive reauthorization bill.
Mr. Speaker, I reserve the balance of my time.
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