Small Business Finance News

ASBL President Criticizes Speaker Pelosi

Written by Jenna Weiner
Published: 9/2/2010

Lloyd Chapman writes letter to Pelosi asking for passage of small business bill.

The American Small League's president, Lloyd Chapman, recently penned a letter to House Speaker Nancy Pelosi calling on the government to take action in order to prevent the economy from going into a double-dip recession.

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In the letter, Chapman says that Congress has not given enough money to small businesses and the lack of funding has damaged the overall economy. He cites the U.S. Census Bureau's statistics, which state that businesses with 20 employees or fewer create 97 percent of all new jobs in the United States.

He also urged Congress to support H.R. 2568 - the Fairness and Transparency in Contracting Act, which redirects $100 billion in federal contracts to small businesses.

"The single most effective and deficit neutral way to create jobs is to direct existing federal infrastructure spending to the middle class," the letter says. "So if you want to stimulate the economy and create jobs, H.R. 2568 would be the most effective way to do that. It could be passed and signed into law as soon as Congress comes back in session."

Speaker Pelosi hasn't been the only target of Chapman's wrath in recent days. The ASBL head made news for small business when he called into question how much of the $96.8 billion that the government claimed went to small businesses through government contracts actually made it there during 2009.

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