FOR IMMEDIATE RELEASE March 12, 2003

CONTACT: Brendan Daly (202)225-0100

Pelosi Address to the Hispanic Chamber of Commerce

This evening, House Democratic Leader spoke to the Hispanic Chamber of Commerce. Below is a transcript of her remarks:

Thank you, George Herrera, for that gracious introduction. I also want to thank you and Chairman of the Board J. R. Gonzales for your leadership on behalf of America’s Hispanic business community.

Thank you for inviting me to join all of you today at this beautiful hall – a powerful reminder of the ties that bind the people of the Americas.

It is wonderful to be here with Ciro Rodriguez, Chairman of the Hispanic Caucus, who is doing such an outstanding job.

We are honored to have Bob Menendez as Chairman of the Democratic Caucus. Bob has been making history for years: the first Hispanic elected to the New Jersey state Senate; the first Hispanic from New Jersey elected to Congress; and now the first Latino elected to the Leadership in Congress.

We are so proud of Nydia Velazquez, the ranking Democrat on the Small Business Committee, who convened our first-ever minority business summit last fall.

It is wonderful to see so many friends from the Hispanic Caucus, whom we thank for hosting this event. I am so proud to serve alongside 25 Hispanics in the House of Representatives today – more than at any time in American history.

Whether in Congress or across the country, our diversity is our strength.

In San Francisco, we say that the beauty is in the mix. Newcomers invigorate the Bay Area and the entire state, where one in three of our neighbors now is Hispanic.

Wallace Stegner once said that, “California is like the rest of the United States –only more so.” Sure enough, Hispanics are now the largest minority group in the nation.

Those of you in this room are leading a record number of Hispanic-owned businesses – some 1.2 million, with annual revenues of nearly $200 billion.

Small businesses like yours create two-thirds of American jobs, and one of the fastest-growing small business sectors is Latina-owned firms.

By the end of the decade, Hispanic buying power is expected to reach $1 trillion per year.

But your influence flows not just from your numbers. It flows from your tremendous contribution to every part of American society – economically, politically, and culturally.

Your drive and entrepreneurial spirit, your commitment to community and family, your values and faith are woven through the fabric of America. You reinvigorate the American Dream and strengthen the ties that bind us as a people.

That is why I am proud to work closely with the Hispanic community to help our newest citizens. I was deeply disappointed that some in Congress succeeded in killing a pilot program that I advocated in San Francisco – our Federal Building was the first in the nation to accept the Mexican Consulate’s identification card, the Matricula Consular.

I ask for your help, as business leaders and as leaders of your communities, to help us convince Washington to restore this model for the nation. We remain a nation of immigrants, and newcomers cannot be denied basic access to our government offices and agencies.

While there will always be issues of particular interest to Hispanic Americans and business leaders, Hispanic families also share the concerns of every other American family.

The Democratic vision for America’s families is grounded in our priorities – the safety and soundness of the American people.

Our highest priority is keeping Americans safe from the greatest threat facing our nation – the clear and present danger of terrorism.

New security measures at our borders have hopefully increased security, but have also meant longer lines and longer waits at border crossings. For Hispanic-owned exporters and importers, so many of which are along the southern border, this impacts the bottom line. The Hispanic Caucus is focused on this issue, and so am I.

Keeping America safe means that even as we secure our borders, we must preserve the free flow of goods and commerce across our borders.

As we keep Americans safe, we must also keep our economy sound.

In two short years, we have gone from the strongest economy in the nation's history to a weak economy and from the largest budget surpluses in a generation to the largest deficit in history.

We have gone from low unemployment to more than 2.5 million private-sector jobs lost, with 8.6 million Americans unemployed today, including 1.3 million Hispanics.

We all shared your pride when President Bush named one the Chamber’s former leaders, Hector Barreto, to head the Small Business Administration. But we were disappointed that last year, the Administration proposed cutting the SBA budget. And this year it proposes eliminating entire programs: investment programs for disadvantaged entrepreneurs, mentoring programs for small businesses in low-income areas, and free counseling and assistance to businesses in low-income empowerment zones.

The Democratic stimulus plan recognizes that our small businesses and minority businesses are the backbone of the American economy. You are the job creating engines.

To boost cash flow, promote capital investment and create jobs now, we propose immediate tax relief for small businesses – allowing you to expense up to $50,000 of the cost of new investments this year.

To encourage business to invest in new plant and equipment now, we propose immediate tax relief for all businesses – restructuring last year’s bonus depreciation provisions so your businesses can write off a 50-percent bonus this year.

We must also ensure that we adequately fund vital loan programs and end the unfair tax burden on small firms.

We must make sure Hispanic businesses have the access to the capital that allows you to grow and create jobs.

We must make sure that small businesses have an equal opportunity to compete for federal contracts. From 1998 to 2000, the number of contracts awarded to small businesses by Department of Defense decreased by more than 24 percent. The Hispanic Caucus is working to address the unfair practice of agencies bundling or consolidating contracts.

We must continue to work, as I have over the years, to increase funding for the Export-Import Bank, and to make the Bank more accessible to small business, especially minority and women-owned businesses.

Who better than you to be at the forefront of the global market? You have an international perspective. You know the opportunities, not just in Latin America, but also around the world.

We must also bridge the “digital divide” that keeps too many minority businesses from seizing the opportunities of the information age.

I commend the Chamber for working with schools to give our most disadvantaged students the high-tech skills they need to succeed in the workplace.

We must reduce class sizes, give teachers adequate training, and modernize our schools by wiring them to the Internet.

When it comes to education, we cannot fail Hispanics – our youngest and fastest-growing minority group.

So Democrats have fought to increase funding for Hispanic serving institutions and to increase funding for bilingual education.

And now that the Administration proposes to cut funding for bilingual education by $21 million, Democrats will fight to preserve programs that give Spanish-speaking students the chance to succeed.

We need to give every American the opportunity to realize the American Dream. I commend the Hispanic Chamber for supporting affirmative action programs that give every student the opportunity to succeed. We must ensure that America remains a land of opportunity.

We gather tonight at a dangerous moment for our nation. Inspections continue in Iraq and war looms on the horizon. Many of you may know someone – perhaps a son or daughter – serving in the Persian Gulf.

I recently visited the Persian Gulf where I met some of our men and women in uniform. They are our families, friends and neighbors. In recent months, they have waved goodbye to their wives, husbands, and children, their parents and families.

The men and women I met inspired me with their enthusiasm, their courage and their deep love of country. They are the best trained, the best equipped, and the best led force for peace in the world. And we are very proud of them.

Americans may disagree about foreign policy and about the timing of this war. But we all agree that we support our men and women in uniform.

If our forces are sent into harm’s way in the coming days or weeks, all Americans will rally behind and support our troops. And when they come home, we will honor them as the heroes they are. It will be one team, one fight.

I am proud to be here tonight with so many friends from the Hispanic Caucus and our friends in the Hispanic business community. Working together, we can build an America that reflects who we are and the kind of country we want to be – a nation that is diverse in heritage but united in our values and ideals.

Working together, we can build a safe and prosperous America with good jobs; a strong, vibrant economy; and quality education for our children.

Working together, we can give everyone in this nation – whether they have been here for generations or just arrived to our shores – the opportunity to realize the American dream.

God bless you. God bless our men and women serving on the frontlines tonight. And God bless the United States of America. Thank you.

“ Democrats are united in presenting a New Direction for America, one that will make our nation as strong as its people, one that brings opportunity, security, and prosperity to all Americans. ”

Democratic Leader Nancy Pelosi