Velazquez on SBA Fiscal Year 2013 Budget

WASHINGTON, Feb. 14, 2012 /PRNewswire-USNewswire/ -- Rep. Nydia M. Velazquez (D-NY), the Ranking Member of the House Committee on Small Business commented on the President's Fiscal Year 2013 Budget for the Small Business Administration:

"The SBA's budget for FY 2013 demonstrates the Obama Administration's commitment to small businesses.  This is in stark contrast to the previous Administration, which regularly proposed massive cuts and imposed new user fees on entrepreneurs. 

"While this is promising, it remains disappointing that the budget proposes reducing overall lending by $3 billion when small businesses continue to encounter real challenges securing capital.  In addition, reductions to core entrepreneurial development programs like the SBDC program, which return to the federal government 2 dollars for every one invested, make little sense especially in light of the new spending proposed for programs that are both untested and unauthorized. 

"With the economy beginning to show signs of renewed growth, it is more important than ever that the SBA remains a priority for this Administration.  I look forward to discussing these matters with the SBA during the Committee's annual budget hearing later this month."

CONTACT: Alex Haurek
(202) 225-2361

SOURCE Representative Nydia M. Velazquez, Ranking Member, House Committee on Small Business

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