10:34 AM EDT

Nydia M. Velázquez, D-NY 12th

Ms. VELAZQUEZ. Mr. Speaker, I move to suspend the rules and pass the bill (S. 1929) to provide for an additional temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958, as amended.

The Clerk read the title of the bill.

The text of the amendment is as follows:

[Page: H11987]

Amendment:

Strike out all after the enacting clause and insert:

SECTION 1. ADDITIONAL TEMPORARY EXTENSION OF AUTHORIZATION OF PROGRAMS UNDER THE SMALL BUSINESS ACT AND THE SMALL BUSINESS INVESTMENT ACT OF 1958.

(a) In General.--Section 1 of the Act entitled ``An Act to extend temporarily certain authorities of the Small Business Administration'', approved October 10, 2006 (Public Law 109-316; 120 Stat. 1742), as most recently amended by section 1 of Public Law 111-66, is amended by striking ``October 31, 2009'' each place it appears and inserting ``January 31, 2010''.

(b) Effective Date.--The amendments made by subsection (a) shall take effect on October 30, 2009.

10:34 AM EDT

Nydia M. Velázquez, D-NY 12th

Ms. VELAZQUEZ. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on the bill under consideration.

10:35 AM EDT

Nydia M. Velázquez, D-NY 12th

Ms. VELAZQUEZ. Mr. Speaker, I yield myself as much time as I may consume.

The legislation before us will extend the Small Business Administration's broad array of critical programs until the end of January. This will allow small businesses to go on using the valuable services of the SBA while the House and the Senate continue our work to comprehensively reauthorize the Small Business Administration.

Already this year we have made important progress toward reauthorizing the SBA. In May, the House passed legislation reauthorizing the agency's entrepreneurial development programs. In July, we approved a measure to update the Small Business Innovation Research Initiative. And later this week, the House will consider H.R. 3854, a bill to comprehensively update the SBA's capital access initiatives. Passing the bill before us today will let us complete our work on these measures and conference

them with our counterparts in the Senate.

The SBA clearly needs to be modernized in order to meet today's challenges. I look forward to sending legislation to the President's desk that will bring all of these various initiatives up to date. In the meantime, this bill offers the appropriate amount of time to continue our work while ensuring the agency can continue serving small businesses.

I urge my colleagues to support this legislation.

I reserve the balance of my time.

10:36 AM EDT

Sam Graves, R-MO 6th

Mr. GRAVES. Mr. Speaker, I rise today in support of the chairwoman's request to suspend the rules and pass S. 1929, as amended.

The bill is very simple. It is a clean extension that prolongs the authorization of all programs authorized by the Small Business Act, the Small Business Investment Act, and any program operated by the Small Business Administration for which Congress has already appropriated the funds. This extension is going to last until January 31, 2010.

This extension is essential because the authorization of various programs operated by the SBA ceases on October 31, 2009. Over the past two Congresses, our committee has worked in a bipartisan fashion and reported out a number of bills to reauthorize and extend the programs operated by the SBA. Despite our efforts to come to terms with various differing aspects of our and the other body's legislation, the extension passed earlier this year will expire before the legislative process can run its

course.

The work needed to help America's entrepreneurs revitalize the economy simply cannot be accomplished within the timeframe outlined in the current legislation. We not only need to reauthorize these critical programs, but also update them to respond to the reality that is the 21st century. The extra time contained in this legislation allows us to fully explore and implement the ideas that will give our Nation's entrepreneurs the tools they need to be successful.

Without enactment of this extension, a number of vital programs that the SBA operates would cease to function. Given the continued importance that small businesses play in the revitalization of the American economy, we cannot allow the SBA authorization to run out. Passage of this legislation will enable the House and Senate to continue to work in an industrious manner to address necessary changes to SBA programs.

I urge all of my colleagues to suspend the rules and pass S. 1929, as amended.

I reserve the balance of my time.

10:38 AM EDT

David Wu, D-OR 1st

Mr. WU. I thank the gentlelady.

Mr. Speaker, I rise in support of S. 1929, as amended by the House. We have been working diligently on reauthorizing key programs of the SBA, including the Small Business Innovative Research and the Small Business Technology Transfer programs.

While progress has been made, a temporary extension of SBA programs is necessary to provide more time for us to continue working and provide stability to the SBA. S. 1929, as passed by the Senate, would extend SBA programs through April 30, 2010.

While I believe it is important to provide stability for SBA, 6 months is simply too long of a time to extend the programs because we need to keep our focus on a comprehensive reauthorization of SBIR and STTR. By extending the program for 6 months, we would delay this process. We would be putting off important work that needs to be done, such as permitting technology and venture capital participation in SBIR to a larger extent, changing grant sizes and other important things to turn the program

into an innovation program as well as a small business program.

S. 1929, as amended by the House, will provide a 3-month extension that will provide stability to the SBA but also ensure that we continue to work expeditiously to pass reauthorization bills for SBIR and STTR.

I commend the chairwoman for her leadership on the Small Business Committee and working to keep small businesses in their important role as we work toward an economic recovery. Small business is the heart of our innovation economy, and we have to have the tools to keep them active and thriving in a 21st century economy.