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
March 2, 2004

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

MEDIA ADVISORY

Democrats to Release Report on Bush Budget and Small Business Impact
Report documents small business programs cut and eliminated in FY '05 budget

WASHINGTON - Congresswoman Nydia M. Velázquez (D-N.Y.), Ranking Member of the House Small Business Committee, will join her Democratic colleagues to release their report on President Bush's
FY 2005 budget - scheduled for mark up next week - and its effect on small business programs.

The report will examine approximately 35 small business programs from an array of federal agencies, which have been either underfunded or terminated in the administration's proposed budget. It will also take an in-depth look at how the Bush budget fails to provide small businesses with targeted tax relief, leaving them without the necessary stimulus to foster economic development and create jobs in our local communities.

Since President Bush took office, more than 3 million jobs have been lost, 8.3 million Americans remain unemployed, and just 366,000 jobs have been added in the last 5 months, far fewer than what was projected by the administration.

Small businesses are the backbone of our economy and the main job creators in this country. At a time when the Bush administration should be investing in these programs, the FY 2005 budget instead proposes deep cuts and the termination of many critical small business initiatives. Without such policies and programs in place, the U.S. will be unable to attain a sustained period of economic recovery and job creation.

When and Where:

When: Thursday, March 4, 2004 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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