Lloyd Chapman Discusses H.R. 3567 on the Jay Marvin Show

Here is a recent clip from President and Founder of the American Small Business League, Lloyd Chapman on the Jay Marvin Show.

Link:

http://www.asbl.com/showmedia.php?id=618

The Jay Marvin Show September 28, 2007

White House Opposes H.R. 3567

The White House recently released a statement in opposition to H.R. 3567, the Small Business Investment Expansion Act of 2007. Specifically, the Bush Administration took issue with "Title V," which will allow venture capital companies to acquire up to 49.9 percent of a small business and maintain that businesses small business status. For more information, please read our recent press release.

Link to press release:
http://www.asbl.com/showmedia.php?id=620

The White House Strongly Opposes House Passage of H.R. 3567.

The White House has issued an official statement in opposition to on H.R. 3567, the Small Business Investment Expansion Act of 2007. In the statement the Office of Management and Budget said, "The Administration strongly opposes House passage of H.R. 3567," in addition to, "The Administration also strongly opposes the proposed change to the definition of a small business for the purposes of venture capital investment. This redefinition strips the elements of independent ownership and control that identify small business ownership under current law. Not only would this change be inequitable for actual small businesses, but it would be a step backward from our recent progress in addressing the misidentification of large firms as small businesses for Federal procurement purposes."

Here is a link to the official statement:

http://www.whitehouse.gov/omb/legislative/sap/110-1/hr3567sap-r.pdf

Small Businesses Lose Out to Venture Capital Firms With New House Bill

HR 3567 Update:
http://biz.yahoo.com/iw/071001/0308693.html