News From the
Committee on Small Business
Nydia M. Velázquez, Chairwoman

For Immediate Release
December 6, 2007     

CONTACT: Erin Donar,  (202) 225-4038

Committee Applauds Passage of Historic Energy Legislation
Bill Includes Strong Measures for the Country’s Entrepreneurs

WASHINGTON – Today, the House passed the Energy Independence and Security Act, which supports increased conservation, provides incentives for the advancement of clean technologies and helps ensure that more of our power is produced on American soil.  This legislation also provides broad support for our nation’s small firms, allowing them to better deal with rising prices and create the innovations that will serve as the basis for our energy future.

“We all have been affected by the increasing cost of fuel, but small firms have been hit particularly hard,” said Chairwoman Velázquez.  “Many entrepreneurs are being forced to consider scaling back their operations or cutting staff in an effort to save money.”

To bring relief, today’s legislation provides loans, education and investment to small ventures to help them reduce their consumption of power through the use of more efficient technology. It also directs capital investment to producers of renewable fuels, spurring expansion, job creation and new ideas throughout the sector. These key measures came from H.R. 2389, The Small Energy Efficient Business Act (SEEBA), introduced by Congressman Heath Shuler (NC-11), and approved by the Small Business Committee this past May.

“Today, we have taken a crucial step towards solving our country’s energy problems, while providing the necessary resources to ensure that small firms are at the forefront of that charge,” said Chairwoman Nydia Velázquez. “This legislation empowers small producers, allowing them to focus on growing their firms, and creating new products and technologies. In this way, we are moving away from our dependence on foreign oil, strengthening our economy and investing in the security of our nation.”

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