mr. chairman , for many unemployed workers , starting a small company provides opportunities for career growth and financial success . 
but the lack of access to capital prevents many entrepreneurs from starting their own business . 
the small business administration 's 7 ( a ) loan program is a critical source of capital for small businesses , providing 30 percent of all long-term loans to u.s. entrepreneurs . 
despite the success of the 7 ( a ) loan program , the bush administration has repeatedly underfunded it , implemented a series of caps , imposed burdensome restrictions , and shut down the entire program . 
in the latest attack on october 1 , the president doubled the fees that small businesses must pay to receive a 7 ( a ) loan . 
these new up-front fees are limiting the number of small businesses that can afford 7 ( a ) loans . 
for a loan of $ 150 , 000 , an entrepreneur must now pay nearly $ 3 , 000 in up-front fees , a significant cost for someone trying to start a company . 
these higher costs have significantly reduced small business use of the 7 ( a ) program , as loan volume has decreased by $ 500 million since the new fees were implemented . 
the impact has been so great that this january the sba made fewer loans than when the administration shut down the entire program last january . 
president bush was wrong when he increased the burden entrepreneurs face in accessing capital . 
this amendment acknowledges the shortsightedness of that decision . 
it affirms that new fees on 7 ( a ) loans are hurting small businesses and demonstrates congressional support for using federal funding to cover the cost of these fees . 
a vote for this amendment is a vote against the bush administration 's policy raising the fees on 7 ( a ) loans . 
it is a vote for our nation 's up-and-coming small business owners . 
i have serious reservations about personal reemployment accounts , as they will place severe limits on the amount of training an unemployed worker can receive . 
however , if congress is going to establish personal reemployment accounts , then we should provide entrepreneurs with the opportunity to use these resources to secure the capital needed to start small businesses . 
unemployed workers should be allowed to use these funds in their accounts to pay for the cost of the 7 ( a ) loan fees , and that is exactly what my amendment will do . 
given president bush 's commitment to creating an ownership society , i am surprised there are not more provisions in this bill to help unemployed workers own small businesses . 
the goal here is help reduce high unemployment , create a strong workforce , and boost our economy . 
this can not be achieved without a stronger commitment to our nation 's entrepreneurs . 
after all , it was laid-off managers launching their own small businesses that turned our economy around during the last recession . 
we need a revival of entrepreneurship in this country that will spur more job creation and grow our economy . 
to do this , we must take advantage of every opportunity to ensure that capital is accessible and affordable for all start-up small business owners , and we must make it clear that president bush is failing our nation 's entrepreneurs . 
this amendment is one of those opportunities , and i urge my colleagues to support it . 
mr. chairman , i reserve the balance of my time . 
