This week I joined members from across the aisle to support H.R. 3854, the Small Business Financing and Investment Act, which passed the House by a vote of 389-32. The Small Business legislation reauthorizes and makes changes to six different programs, and creates two new programs within the Small Business Administration (SBA). The legislation would also increase limits on several SBA capital access loan programs and take steps to reduce the interest rate on loans made to small businesses under current programs.
Since the beginning of the recession it's been clear that small businesses are going to be our way back to economic prosperity and job creation. By expanding our support for small businesses, the creators of 70% of new jobs in America every year, we will be making an investment in getting folks back to work which is critical to reducing unemployment. This bill is a good start, but Congress still needs to act to reduce taxes and burdensome regulations on small businesses.
More importantly to folks at home, I spoke on the House floor during the debate on the bill in support of an amendment offered by Reps. Glenn Nye (D-VA) and Vern Buchanan (R-FL) to authorize the SBA to make loans to homeowners impacted by toxic drywall manufactured in China aid in the repair or replacement of this toxic drywall. I've noted here over the past few weeks that I've toured the homes of residents of the Hollymeade subdivision in Newport News and met with affected residents from the Hampton Roads region over the course of this month.
With winter fast approaching and these working families' budgets and lives affected on a daily basis by this drywall, I'm glad to join my colleagues from around the Nation to start the flow of some relief. This is by no means a total fix and I will continue to work across the aisle on this issue in support of these folks in Hampton Roads.
Congressman Rob Wittman represents the First District of Virginia. He was elected to his first full term in November 2008 and serves on the Natural Resources Committee and the Armed Services Committee where he is the Ranking Member of the Oversight and Investigations Subcommittee.
