Snowe pushes for Cabinet-level SBA
Sen. Olympia Snowe (R-Maine) is asking President-elect Barack Obama to return the administrator of the Small Business Administration to a Cabinet-level position, as it was during the Clinton administration.
Snowe, a ranking member of the Senate Committee on Small Business and Entrepreneurship, met with Obama's transition team last week to discuss the proposal, according to a press release from Snowe's office. Snowe said returning the SBA to the Cabinet level and expanding its budget is "imperative" to create jobs and pull the country out of the recession, according to the release. Snowe also sent a letter to Obama yesterday reiterating her position, saying the SBA "should have a seat at the table when it comes to revitalizing the economy," and calling for a boost in the SBA's budget, which has dropped 27% since 2001, she said.
Small businesses represent 99.7% of the country's businesses, and creates three-quarters of net new jobs each year, according to the release.
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