Senate Proceeding 05-13-09 on May 13th, 2009 :: 3:41:35 to 3:51:09
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3:41:25 to 3:41:46( Edit History Discussion )

Mary Landrieu: the floor. ms. landrieu: thank you, mr. president. the presiding officer: the senator from louisia ms. landrieu: thank you, mr. president. i would like to speak for a few moments about an amendment that i have at the desk. and i ask for it to be called up. it's amendment 1079, i believe. the presiding officer: t will report. the clerk: the senator from

3:41:35 to 3:51:09( Edit History Discussion )
Speech By: Mary Landrieu

3:41:47 to 3:42:07( Edit History Discussion )

Mary Landrieu: louisiana, ms. land drew, for -- landrieu amendment 1079 to amendment 1058. ms. landrieu: thank you, mr. president. i explanation purposes. i would like to explain the basis of this amendment. i have spoken with the chair --

3:42:08 to 3:42:29( Edit History Discussion )

Mary Landrieu: chairman of the c has proposed bill. he sees some merit in this proposal, and i'm grateful for that. so i would like to talk about then as we vote, i may be open to some modification of this amendment.

3:42:30 to 3:42:51( Edit History Discussion )

Mary Landrieu: but as chair of the small business committee, i offer this amendment on behalf of myself and my ranking member, senator snowe, from maine who served for many years as important committee. we have committed to try to be the very best advocates we can for small businesses

3:42:52 to 3:43:13( Edit History Discussion )

Mary Landrieu: close to 30 million small businesses that are actually feeling the brunt of this recession in some anyone, mr. president, as you know in your own state of illinois. i'm sure you hear it on a regular basis from very small mom and pop operators that have

3:43:14 to 3:43:34( Edit History Discussion )

Mary Landrieu: been in business for decades t more established but relatively small businesses, restaurants, shoe repair, hardware stores. to me and i'm sure you them, senator, we've never experienced this kind of difficulty getting access credit. and they're angry, and they should be.

3:43:35 to 3:43:56( Edit History Discussion )

Mary Landrieu: and they're frustrated because while they understand shared sacrifice, like hard-working americans do, they're having trouble, mr. president, understanding how continue to send billions and billions and billions of dollars to the big banks to the wall

3:43:57 to 3:44:17( Edit History Discussion )

Mary Landrieu: street companies to the international companies, and they're having trouble seeing any of that actually hit mai street where they are and where they want to stay. the small businesses that are right around the corner, in some instances on the same block as the constituents as that

3:44:18 to 3:44:38( Edit History Discussion )

Mary Landrieu: represent, and, of course, we re so it came to the attention of this chair and our ranking member that this a lot of merit, this amendment to consumer protection is very limit that we're not comfortable

3:44:39 to 3:45:00( Edit History Discussion )

Mary Landrieu: with. and that limit credit card protection extends only to natural person as person. so it's a personal credit card that you would get this benefit. we think that -- the chair of

3:45:01 to 3:45:21( Edit History Discussion )

Mary Landrieu: representing a broad coalition, that this same benefit should extend at least to small businesses as well to businesses that are literally trying to keep their access to capital not just to business, to keep their

3:45:22 to 3:45:42( Edit History Discussion )

Mary Landrieu: communities strong, but to lead our nation's recovery. the president himself he expects, and he's correct, th creation is not going to come from the big businesses, the multinational companies, they're gog to be contracting for some time, i would expect. it's what big business has to do to

3:45:43 to 3:46:07( Edit History Discussion )

Mary Landrieu: i have some general understanding of it. but the big be taken by the small entrepreneurs that despite gloom and doom, they decided that their idea is worth pursuing and they're going to go out and build this recovery one job at a time. i don't know why we would be even considering -

3:46:10 to 3:46:30( Edit History Discussion )

Mary Landrieu: president, can i have -- mr. presid would be consideri only limiting this help and support to private leaving small business out. i don't think that's the intention of the chairman as he has indicated to me of this -- of the banking committee.

3:46:31 to 3:46:51( Edit History Discussion )

Mary Landrieu: so that is basically what -- what our amendment would do. our amendment would simply include small businesses that have $25,000 on their credit card where they're trying to stay in business, keep their lights on, keep that flowing as other sources dry up

3:46:52 to 3:47:13( Edit History Discussion )

Mary Landrieu: as we've heard and extend the same i am open to some slight modifications because i understand there may be some objections. i'm not clear about where those objections would come from. so for right now let me just say, again, that i offer this in a bipartisan amendment from

3:47:14 to 3:47:36( Edit History Discussion )

Mary Landrieu: senator snowe and myself. i'm also happy to be joined by senator shaheen, senator cardin, and others that have indicated that they may want to cosponsor this amendment. i have a long list of organizations that have endorsed this concept. i'd like to read them into

3:47:37 to 3:47:58( Edit History Discussion )

Mary Landrieu: record now: the consumer action group, consumer federation of america, food marketing institute, national association of college stores, national association of the self-employed, national association of theater owners, american beverage american society of travel agents, the national small

3:47:59 to 3:48:19( Edit History Discussion )

Mary Landrieu: business association, which brought this issue to my attention, petroleum marketers association, service employees international, the u.s. hispanic chamber of commerce has endorsed this, the u.s. of commerce has endorsed it, the national consumer law center on behalf of its low-income

3:48:20 to 3:48:40( Edit History Discussion )

Mary Landrieu: clients, national community reinvestment coalition, and i understand the national federation of independent business, which is the largest organization in the country of independent businesses is poised to endorse this as well. so we have a very of organizations that think that

3:48:41 to 3:49:02( Edit History Discussion )

Mary Landrieu: these protections to credit cardholders should not just go to persons but to businesses who arguably need more protection, as they attempt to create jobs and to keep their businesses open, which is a help to us so that, mr. president

3:49:03 to 3:49:24( Edit History Discussion )

Mary Landrieu: nature of this amendment. i'm going to rest of my comments for the record. i will say that one of the things that's driving me is not -- mr. reid: would my friend yield for a brief -- ms. landrieu: yes, i would be

3:49:25 to 3:49:49( Edit History Discussion )

Mary Landrieu: happy to yield to the majority leader. the presiding officer: the majority lea mr. reid: i ask that the record not a the presiding officer: without objection, so ordered. the clerk: cloture cloture motion: we, the undersigned senators, in accordance with the provisions of rule 22 of the standing rules of the senate, do hereby move to bring to a close debate oned

3:49:50 to 3:50:11( Edit History Discussion )

Mary Landrieu: to-shell -- dodd-sh amendment, signed by 17 as follows. mr. reid: i would ask further the presiding officer: without objection. mr. reid: i send a cloirm to -- a cloture motion to the desk. the presiding officer: the clerk we, the undersigned senators, in accordance with the provisions of rule 22 of the standing rules of the senate, do hereby move to

3:50:12 to 3:50:35( Edit History Discussion )

Mary Landrieu: bring to a close debate on h.r. 627, credit cardholders bill of rights act of 2009 signed senators as follows: durbin -- mr. reid: i ask of the names be waived. the presiding officer: without objection. mr. reid: mr. president, i have spoken to the republican leader and indicated to him earlier today that i would file this so

3:50:36 to 3:50:56( Edit History Discussion )

Mary Landrieu: it is no surprise to anyone. the presiding officer: the senator from louisiana. ms. landrieu: thank you, mr. president. i understand that it is important to bring this debate to a close, and hopefully we can get there. i do know that are probably 30 other amendments pen this, of course, is one of them. so i'm sure that we can find some time at the appropriate timeor this vote.

3:50:57 to 3:51:09( Edit History Discussion )

Mary Landrieu: but i wanted to bring to the attention of the senate that one of the reasons that this issue is becoming so important to small businesses is if you would think about it only 15 years ago