SBA TRADE PROGRAMS ACT OF 2007 -- (House of Representatives - September 04, 2007)
BREAK IN TRANSCRIPT
Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise today in support of H.R. 2992, the SBA Trade Programs Act of 2007. The committee worked in a cooperative and bipartisan basis to bring these changes in the SBA's operation of its programs to enhance small business participation in the global economy. H.R. 2992 represents the Small Business Committee's continued commitment to promotion of international trade by America's small businesses.
The Small Business Administration has a number of general entrepreneurial assistance programs that provide technical advice to small business owners. However, international trade is an area that is fraught with regulatory issues requiring specialized knowledge that may not be available from the SBA's entrepreneurial partners.
It is not surprising to find that the SBA created other programs to meet the needs of small business exporters that rely on personnel with specialized knowledge about the international trade regulatory regime. These programs, as well as the SBA efforts to coordinate with other agencies such as the Department of Commerce, have resulted in remarkable gains in exports.
There are about a quarter of a million small businesses that export. Revenue increased from $102.8 billion to $203 billion in 2004. There's no doubt that small businesses are playing a vital role in reducing America's trade deficit. Continuation of this success and even greater impetus on small business exporting will benefit the American economy.
H.R. 2992 requires the Small Business Administration to expand its trade outreach initiatives and improve coordination of its trade promotion activities with those of other Federal agencies such as United States Trade Representative, the Department of Commerce, and the Export-Import Bank.
The bill will increase the capacity of America's small businesses to export. This will reduce our trade deficit and increase our national and economic security.
Mr. Speaker, I reserve the balance of my time.
BREAK IN TRANSCRIPT