Small Business Administration Budget Goes Awry, Hopeful Entrepreneurs Want A ChangeBy Jake Young on 2010-03-24 17:22:48
U.S. Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu, Democrat from Louisiana, commented today on the Senate Republicans' objection about the committee to hold a hearing on the Small Business Administration's budget (SBA). Entrepreneurs around the country are hoping to see more funding so their businesses can get a better start on life. The hearing, however, has been postponed to a later date because a procedural unanimous consent agreement did not pass because Republicans would not consent.
Senator Landrieu responded, "Over eight years under President Bush, more than a quarter of the SBA's funding was slashed – more than any other federal agency. Year after year of cuts – combined with the worst economic downturn we have seen since the great depression – have finally caught up to small business owners, as more than 80 percent of the jobs lost last year came from small firms. Yet, while my Committee is trying to reverse this trend by making the SBA a more muscular agency and by getting money into the hands of small businesses, my Republican colleagues will not permit the Small Business Committee to even meet to discuss the budget for the single agency that aids our entrepreneurs. My colleagues' pettiness has gone too far."
Entrepreneurs are hoping to see a better pay-off from the government in the near future, but waiting for the Senate to make an agreement could take longer than expected.