Source: United States Senator Kevin Cramer (R-ND)
WASHINGTON – U.S. Senator Kevin Cramer (R-ND), a Senate Banking Committee member, joined Senator Tim Scott (R-SC) on a letter to Senate Majority Leader Chuck Schumer, House Speaker Nancy Pelosi, Senate Small Business Committee Chair Ben Cardin, and House Small Business Committee Chair Nydia Velasquez warning against Democrats’ plan to make the Small Business Administration (SBA) a direct lender through their $3.5 trillion spending package.
“Allowing the SBA to establish and run a lending program that they themselves regulate will harm job creators and hurt the United States economy as a whole,” the senators wrote. “We encourage you to take lessons from the past year and see that the way to increase availability of these products to those that do not have access is not by simply having government play a larger role, but instead to empower financial institutions in doing what they do best.”
Senators Cramer and Scott are joined on the letter by Senators Bill Cassidy (R-LA), Roger Marshall (R-KS), Thom Tillis (R-NC), John Barrasso (R-WY), James Lankford (R-OK), Todd Young (R-IN), Steve Daines (R-MT), Jim Risch (R-ID), Mike Crapo (R-ID), John Kennedy (R-LA), Jim Inhofe (R-OK), Joni Ernst (R-IA), and Jerry Moran (R-KS).