Improving the Climate for Small Businesses in 2010

Congressman Ron Klein represents Florida’s 22nd Congressional District, which includes portions of Broward and Palm Beach counties.. An experienced leader with a solid record of service, Ron has developed a reputation for working in a bipartisan manner to find common sense solutions that will improve the lives of Florida’s families and businesses.

As we approach the holiday season, many of us will take time with our families and friends to reflect on the challenges and opportunities of the past year. This year has brought real challenges, including a difficult economic climate for small businesses, but I have been extremely impressed with the dedication and resiliency of small business owners in my Congressional district in South Florida and around the country.

There is no doubt that small businesses are the economic engines of our communities. I know first-hand how hard you work as a small business owner, because I grew up working in a small, five-and-dime variety store owned by my father. Your commitment is extraordinary, and it will be essential to our national economic recovery.

As we look forward to 2010, I am optimistic about the improving climate for small businesses. Working with our partners at the local and state level, we are creating a successful blueprint to emerge from this recession stronger than ever. I am honored to serve on the House Financial Services Committee, where, along with my colleagues, we drafted and passed through the House a landmark financial reform bill to prevent another economic crisis. I have been personally fighting, along with Democratic and Republican colleagues, to find solutions to the credit crunch and make more credit available to small businesses and other commercial borrowers.

Providing substantial help to small businesses is essential, since they tend to lose jobs faster as the country enters a recession. On the other hand, they also tend to recover faster than larger businesses. Through regular meetings with small business owners, bankers and local CEOs, we will continue to listen to those on the ground and take action on the ideas brought forward from these meetings.

One concern I hear far too frequently is that credit-worthy businesses are unable to access the lines of credit they need to make payroll and keep their business growing. In many cases, this is from banks that they have a long-standing relationship with, and even sometimes from banks that have received aid from the federal government. This is unacceptable, and I am fighting for a quick solution to get credit flowing again. I have brought this important issue to the attention of Treasury Secretary Timothy Geithner and recently had a personal, one-on-one meeting with the head of the Small Business Administration, Karen Mills. She stressed that SBA representatives stand ready to help business owners in South Florida obtain loans, free counseling services and other local resources. I am committed to ensuring local small businesses have access to the full range of assistance available through SBA and other sources. We are also hosting a series of small business symposiums in South Florida to bring together business owners, grant experts and federal officials.

Several measures I fought for to support small businesses for have passed the House this year. For example, I worked to help level the playing field so small businesses no longer are at a disadvantage when it comes to the cost of purchasing health insurance for their employees. The Affordable Health Care for America Act, passed by the House in November, will allow businesses to pool their purchasing power in order to drive down health care costs. Equally as importantly, it will also provide tax credits of up to 50 percent of the cost of providing health care to your employees.

I also supported the bipartisan Small Business Financing and Investment Act, which will comprehensively reform small business lending programs to spur job creation, expand access to credit and meet the needs of American small businesses. It extends key provisions that eliminate fees on Small Business Administration loans. The bill keeps in place a 90 percent federal guarantee on certain SBA loans, giving local banks and credit unions the confidence they need to lend to small businesses. It also raises SBA loan amounts to help small firms access larger amounts of capital, increases loan availability by expanding SBA support to facilitate small business lending and helps small business start ups by supporting a public-private partnership to channel investment capital to emerging companies.

We have made real progress in the past year, but there is still a great deal of work ahead. It is extremely important for me to hear from you, and I hope you will take the time to share your ideas, thoughts and suggestions with me. My staff and I stand ready to work with you to take all necessary actions to help your business grow and thrive. From my family to yours, best wishes for a wonderful holiday season and a happy and prosperous New Year.

Please note: the Alliance does not support or oppose the aforementioned legislation. We believe that it is important for our members to be informed about critical legislation currently being developed by Members of Congress — legislation that could impact you, your business, and your family. We realize that you may agree or disagree with the opinions and ideas presented by legislators. However, it is important that you express your opinions so your voice can be heard. If you would like to speak up about this or other pieces of legislation, click here to contact us and vocalize your opinion.