News From Congresswoman
Nydia M. Velázquez
Representing New York's 12th Congressional District - Brooklyn, Manhattan, Queens
Ranking Democratic Member, House Small Business Committee

For Immediate Release
February 11, 2005

CONTACT: Kate Davis, Allyson Ivins, 202-225-4038

MEDIA ADVISORY

Democrats to Release Report on Impact of FY 2006 Budget on Small Business
Report documents key cuts to small business programs

WASHINGTON - Congresswoman Nydia M. Velázquez (D-N.Y.), Ranking Member of the House Small Business Committee, will join her Democratic colleagues to release their annual report analyzing the impact of President Bush's FY 2006 budget on small business.

The report comes nearly one week after the Bush administration released its annual budget, which slashed funding for a number of domestic programs and initiatives. The report will examine approximately 50 small business programs from an array of federal agencies that have either been terminated or have seen drastic cuts to their funding in the President's proposal.

As the U.S. economy still struggles to recover, small businesses continue to be the main job creator. Small firms generated nearly 80 percent of the jobs over the last decade, and employed over half of all private sector employees. Small businesses rely on these programs for access to capital, technical and development assistance in order to create jobs and in turn, stimulate the U.S. economy overall.

When and Where:

When: Wednesday, February 16, 2005, at 9:30 a.m.

Where: House Radio and TV Gallery, the Capitol, H-321
**You must have valid press credentials to gain access**

Who: Rep. Nydia M. Velázquez, Ranking Democrat, House Small Business Committee
Democratic Members of the House Small Business Committee

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