From an
AP article:
The move is "the Bush administration's latest attempts to gut this critical program," said Rep. Nydia Velazquez of New York, senior Democrat on the House Small Business Committee. "As the economy struggles to create jobs, now is not the time to cut off small businesses from access to capital."
The Small Business Administration, which administers the program of loan guarantees intended to help businesses that can't qualify for regular loans from banks, blames the holdup on Congress. Lawmakers have not passed a $373 billion spending bill for the budget year that started Oct. 1, which includes money for the SBA.
I never understood the logic that grouped "business interests" into some sort of monolithic concern. The reality is that, in most cases, small businesses are struggling against large corporations throughout the US.
And why would any small business owner support BushCo?
Velazquez has endorsed Dean, BTW.