Transcripts For CSPAN2 President 20240706 : comparemela.com

Campaign 2024 on the cspan network. Our free mobile video app and anytime online at cspan. Org. Cspan, your unfiltered view of politics. President biden marked National Small business week with remarks at the white house on his administrations efforts in support of Small Businesses. He addressed the sale of First Republic bank which government regulators seized and sold off earlier in the day to jp morgan chase, making it the third bank to fail in 2023. The t president was joined by vicepresident Kamala Harris and isabela guzman. Please welcome Small Business administrator isabella guzman. Good afternoon and happy Small Business week and welcome all of our Small Businesses to the white house, its incredible to be here. It is one of the highest honors to be celebrated here in the white house rose garden and it demonstrates what i see every day, serving as your voice in the Bidenharris Administration that this president and voip are committed to ensuring our economy works for Small Businesses and startups across the country and it highlights our unwavering commitment to deliver Business Ownership to morep americans, i am so excitd to have this position. I told President Biden that he gave me the best jobs leading the Small Business administration. I grew up in a Small Business, started Small Businesses, advisors and no place where inspiring than any main street or startup Innovation Hub or Small Business Manufacturing Center where i get to hear from entrepreneurs like all of you who have overcome obstacles, never given up, and have an outsized impact on our economy. I know how hard you work to do what you do best, which is create jobs, innovate and deliver products and services to neighborhoods around the world. This National Small business week we areek celebrating your resilience. Congratulations f. D. A. , Small Business winners of 2023. Thats right. [applause] congrats to you all. When President Biden took office, our nation was still reeling from the pandemic. You all faced unprecedented challenges,oi made hard choices and pivoted and adapted to survive. Theft president took swift actin to fight the pandemic and helped millions of our Small Businessesma survive with the American Rescue plan and critical covid relief for Small Businesses and helped to drive one of the most historic economic comebacks ever seen and now thise president and vooib vicepresident are working hard to make sure our Small Businesses continue to thrive and survive by investing in americars and creating billions of dollars of opportunity, dollars in contracts and savings from for Small Businesses that they will get from investments in infrastructure. Path ways to growth by making more in america with America Manufacturing and domestic supply chains and increased sustainability as we build a Clean Energy Economy of the future. Investingin in america is drivig a Small Business boom like no other in myth. Millions of entrepreneurs with great ideas are taking that leap of faith to jump in and start up in america. The same leap that each of you took before, during this National Small business week well amplify the Great Success story and gather the strength and entrepreneurship in the country and inspire all of our Small Businesses across the country to keep going as we need you all to spur the future economy and our nations global competitiveness. Everyone, let the white house kickoff of National Small business week begin, thank you. [applause] the president of the United States, accompanied by the vicepresident. United states and ms. Jill scarborough. Good afternoon, everyone, please have a seat. Good afternoon. Well, happy Small Business week, everyone. [cheers and applause] and congratulations to all of you. It is a great honor to be with these extraordinary americans who are our incredible Small Business leaders and of course, it is great to be with our administrator Isabel Guzman and thank you for your work and a special thank you to our president , joe biden. [applause] our president has long been a leader on this and so many other issues, but hes quiteth passionate about this oe and i will tell you working with him and having the honor of doingth that, no matter what room hes in, when the cameras are on or when they are off, President Biden is always fighting for americas Small Business owners and entrepreneurs so we thank him for hisis leadership in that regard. Small Business Owners are the backbone of americas economy. You are. [applause] through your creativity, tenacity and determination, you helped create prosperity and opportunity for millions of people in our country. Our Small Business owners our business leaders, and our Small Business owners our community leaders, and civics leaders, you train young people and hire locally and you support the local softball team. You are role models and mentors. And i tell you, ive seen it my whole life, growing up, my mother worked long hours and long days, and weekends from time to time. And when she did, my sister and i would go a couple of doors over to miss sheltons house. She ran a Nursery School a couple of doors over and we lived above the Nursery School. And she was a Small Business owner and i would not be here without her. Mrs. Shelton was a fixture in our community, and she gave advice for folks going through challenges, just as so many of you do, and as District Attorney of San Francisco in my career as attorney general of california, and a United States senator and now as vicepresident , i have worked with and met with thousands of Small Business owners folks like you who are here, who fight every day to build a Better Future for the people you love, for the community you call home and for our country. You power the ambition and aspirations of our nation. And that is why were fighting every day to make sure that you have the resources and the support that you need. For example, we know there are so manyy Small Businesses owners who hire employees, but want to hire more because your business is growing. Small Business Owners who want to stock the shelves and make sure you have enough in terms of the supply you need to do what you need to do in your community. Small Business Owners who need more capital because you want to design a new product or build a new store, but who cannot because you dont have access to capital. And so building on the work that i did as a United States senator. Our administration is investing billions in Community Banks and help provide capital and financial supportrl to Small Business owners in particular, those in overlooked and underserved communities, including our rural community. Whats more, last year, we built a a historic publicprivae partnership to helptn address this issue. We partnered with consumer banks, investment firms, Technology Companies and philanthropy, to combine the expertise and experience of the private sector with the reach and capacity that can only be provided by the government. As a result, we have secured tens of billions of dollars in private Sector Investment for Small Businesses and communities across america. And [applause] and we are just getting started. So with your support, President Biden and i will continue to fight to make sure over Small Business owner in our nation and every aspiring Small Business owner has the opportunity to not only survive, but thrive. And with that please join me to welcome to the microphone a leader who exemplifies the excellence of all the Small Business owners who are here today, jill scarborough. [applause] hi. My name is jill scarborough and my business is Bright Futures learning services. I grew up a poor dyslexic girl in rural southern West Virginia and it was my familys passion and commitment to make sure that i got the services that i needed to be able to read that ignited by passion to help other children with specific learning challenges get the services that they needed to. So, i went to college at Marshall University as a special Education Teacher and as tends to happen with girls who go to college, i met a boy who changed my life. [laughter] he was six years old and his name is mike mccoy and i think theyre watching today so hi mike, and hi bev. Mike was born with several health and learning challenges, including a hearing impairment, a Mental Health impairment as well as autism spectrum disorder, but mike is blessed with an incredible mom, bev how to help her child and the power of behavior analysis, aba. So, bev worked with another small group of moms in West Virginia to fly in experts from california whocr trained them, who then recruited anybody they could find so College Students like me and we trained in homes to implement ada therapy. And so with our hard work, mike made so muchto progress. He learned how to communicate at first through sign language and augmentative communication and yes, with his voice. He learned how to play, learned how to connect and learned how to read. So after seeing what i could help someone like mike accomplish, i knew thats what i had to do. And so fast forward after going to graduate school and coming home, back home to West Virginia, would he started Bright Futures learning services technically as a private school for mike in my grannys kitchen. And then a powerful group again of moms and women who worked to pass legislation, largely thanks, also, to the Affordable Care act, our children with autism had coverage and then specifically supplied behavior analysisen coverage. With that, Bright Futures was born and i want to thank the president and the vicepresident for your Small Business friendly policies truly without the support of the f. D. A. And Resources Available to Small Businesses like mine would not have survived through covid. So, because of those resources we now are employing 48 team members that are the hardest working, most caring people that make a difference in childrens lives every day and so, because of them and the families and the children that we have the immense pleasure to work with, i know that Bright Futures continues to have a very bright future. [applause] and now, please join me in welcoming a true champion for Small Business, the president of the United States, joe biden. [applause]. Really great. Thank you. Good morning. Good afternoon. And before we start im pleased to say that the regulators have taken actions to facilitate the salean of First Republic bank ad im sure that all the deposits are protected and that taxpayers are not on the hook. These actions are going to make sure that the Banking System is safefe and sound and that includes protecting Small Businesses across the country who need to make payroll for workers and their Small Businesses. And so, let me be very clear, all depositors are being protected and shareholders are losing their investments and critically taxpayers are not the ones on the hook as i said earlier. [applause] Going Forward ive called on congress to give regulators the tools to hold Bank Executives accountable and ive called on regulators to strengthen regulations and supervision of large and regional banks. We and folks, we have to make sure that were not back in in position again. And i think were well on our way to be able to make that assurance, and as i said to my introducer jill, a moment ago, shes really impressive, isnt she . And [applause] and the guy sitting next to her, if you disagree with me, its her husband, and youre in deep trouble. [laughter] well, man. Speaking of Small Business youve got your own Small Business and i want to thank you. Us look. Folks, weve got a lot to do and most immediate thing we can do is assure the continuing reliance of our economy and the financial system. Most important thing we have to do t in that regard is make sur that the threat by the speaker of the house the default on the National Debt is off the table. For over 200 years america has never ever, ever, failed to pay its debt to put in the capital and terms we have never failed to i can make the debt. One of the respected nations in the world we may our bills and b with the maga republicans in congress. Were here todayay because i wat to thank jill and all of you, and jill was last years winner and for hope that your business gives to families that need it, really do. My daughter is a social worker working with abused women in philadelphia, her passion, and so much we can doth in we reach out. And thanks to leader guzman for Small Businesses across america. And thank vicepresident harris expanded underserved communities throughout america and talking about whatse impact it had on underserved communities. Congratulations on National Small business o week award winners, youre models of grit, heart, drive and determination, all the virtues, thats not hyperbole, literally built america. This week, we celebrate that same unstoppable spirit in every entrepreneur nationwide. Small businesses are the engine of our economy, the glue, they really are thean glue, the hear and soul of communities and most citizens dont know it is that you Small Business owners you account for 40 . Let me say it again, 40 of the Gross Domestic Product of america, Small Businesses, not megha corporations, Small Businesses. And you enjoy nearly half, employ nearly half of all private Sector Workers and i dont think that people know that. I dont think they understand the consequence, the economic consequence. Youre involved in and youre innovative across every single solitary industry. Now, we saw it here at the white house last month, when i hosted the annual womens business summit to celebrate the critical contributions to Women Entrepreneurs make to our economy and we see it here again today, in companies like, i hope i pronounce it right, almay power. Amay . I believe its right. Floridas Small Businesses award winner, business week winner, you won. [laughter] whats the big deal . Immigrants from latin america, high powered, converting our shift to Clean Energy Future and we see in businesses like begin with therapy, illinois winner, a clap for that one, too. [applause] it started eight years ago in one room in chicagos south side and now provides 20,000 National Small<\/a> business week with remarks at the white house on his administrations efforts in support of Small Business<\/a>es. He addressed the sale of First Republic<\/a> bank which government regulators seized and sold off earlier in the day to jp morgan chase, making it the third bank to fail in 2023. The t president was joined by vicepresident Kamala Harris<\/a> and isabela guzman. Please welcome Small Business<\/a> administrator isabella guzman. Good afternoon and happy Small Business<\/a> week and welcome all of our Small Business<\/a>es to the white house, its incredible to be here. It is one of the highest honors to be celebrated here in the white house rose garden and it demonstrates what i see every day, serving as your voice in the Bidenharris Administration<\/a> that this president and voip are committed to ensuring our economy works for Small Business<\/a>es and startups across the country and it highlights our unwavering commitment to deliver Business Ownership<\/a> to morep americans, i am so excitd to have this position. I told President Biden<\/a> that he gave me the best jobs leading the Small Business<\/a> administration. I grew up in a Small Business<\/a>, started Small Business<\/a>es, advisors and no place where inspiring than any main street or startup Innovation Hub<\/a> or Small Business<\/a> Manufacturing Center<\/a> where i get to hear from entrepreneurs like all of you who have overcome obstacles, never given up, and have an outsized impact on our economy. I know how hard you work to do what you do best, which is create jobs, innovate and deliver products and services to neighborhoods around the world. This National Small<\/a> business week we areek celebrating your resilience. Congratulations f. D. A. , Small Business<\/a> winners of 2023. Thats right. [applause] congrats to you all. When President Biden<\/a> took office, our nation was still reeling from the pandemic. You all faced unprecedented challenges,oi made hard choices and pivoted and adapted to survive. Theft president took swift actin to fight the pandemic and helped millions of our Small Business<\/a>esma survive with the American Rescue<\/a> plan and critical covid relief for Small Business<\/a>es and helped to drive one of the most historic economic comebacks ever seen and now thise president and vooib vicepresident are working hard to make sure our Small Business<\/a>es continue to thrive and survive by investing in americars and creating billions of dollars of opportunity, dollars in contracts and savings from for Small Business<\/a>es that they will get from investments in infrastructure. Path ways to growth by making more in america with America Manufacturing<\/a> and domestic supply chains and increased sustainability as we build a Clean Energy Economy<\/a> of the future. Investingin in america is drivig a Small Business<\/a> boom like no other in myth. Millions of entrepreneurs with great ideas are taking that leap of faith to jump in and start up in america. The same leap that each of you took before, during this National Small<\/a> business week well amplify the Great Success<\/a> story and gather the strength and entrepreneurship in the country and inspire all of our Small Business<\/a>es across the country to keep going as we need you all to spur the future economy and our nations global competitiveness. Everyone, let the white house kickoff of National Small<\/a> business week begin, thank you. [applause] the president of the United States<\/a>, accompanied by the vicepresident. United states and ms. Jill scarborough. Good afternoon, everyone, please have a seat. Good afternoon. Well, happy Small Business<\/a> week, everyone. [cheers and applause] and congratulations to all of you. It is a great honor to be with these extraordinary americans who are our incredible Small Business<\/a> leaders and of course, it is great to be with our administrator Isabel Guzman<\/a> and thank you for your work and a special thank you to our president , joe biden. [applause] our president has long been a leader on this and so many other issues, but hes quiteth passionate about this oe and i will tell you working with him and having the honor of doingth that, no matter what room hes in, when the cameras are on or when they are off, President Biden<\/a> is always fighting for americas Small Business<\/a> owners and entrepreneurs so we thank him for hisis leadership in that regard. Small Business Owners<\/a> are the backbone of americas economy. You are. [applause] through your creativity, tenacity and determination, you helped create prosperity and opportunity for millions of people in our country. Our Small Business<\/a> owners our business leaders, and our Small Business<\/a> owners our community leaders, and civics leaders, you train young people and hire locally and you support the local softball team. You are role models and mentors. And i tell you, ive seen it my whole life, growing up, my mother worked long hours and long days, and weekends from time to time. And when she did, my sister and i would go a couple of doors over to miss sheltons house. She ran a Nursery School<\/a> a couple of doors over and we lived above the Nursery School<\/a>. And she was a Small Business<\/a> owner and i would not be here without her. Mrs. Shelton was a fixture in our community, and she gave advice for folks going through challenges, just as so many of you do, and as District Attorney<\/a> of San Francisco<\/a> in my career as attorney general of california, and a United States<\/a> senator and now as vicepresident , i have worked with and met with thousands of Small Business<\/a> owners folks like you who are here, who fight every day to build a Better Future<\/a> for the people you love, for the community you call home and for our country. You power the ambition and aspirations of our nation. And that is why were fighting every day to make sure that you have the resources and the support that you need. For example, we know there are so manyy Small Business<\/a>es owners who hire employees, but want to hire more because your business is growing. Small Business Owners<\/a> who want to stock the shelves and make sure you have enough in terms of the supply you need to do what you need to do in your community. Small Business Owners<\/a> who need more capital because you want to design a new product or build a new store, but who cannot because you dont have access to capital. And so building on the work that i did as a United States<\/a> senator. Our administration is investing billions in Community Banks<\/a> and help provide capital and financial supportrl to Small Business<\/a> owners in particular, those in overlooked and underserved communities, including our rural community. Whats more, last year, we built a a historic publicprivae partnership to helptn address this issue. We partnered with consumer banks, investment firms, Technology Companies<\/a> and philanthropy, to combine the expertise and experience of the private sector with the reach and capacity that can only be provided by the government. As a result, we have secured tens of billions of dollars in private Sector Investment<\/a> for Small Business<\/a>es and communities across america. And [applause] and we are just getting started. So with your support, President Biden<\/a> and i will continue to fight to make sure over Small Business<\/a> owner in our nation and every aspiring Small Business<\/a> owner has the opportunity to not only survive, but thrive. And with that please join me to welcome to the microphone a leader who exemplifies the excellence of all the Small Business<\/a> owners who are here today, jill scarborough. [applause] hi. My name is jill scarborough and my business is Bright Futures<\/a> learning services. I grew up a poor dyslexic girl in rural southern West Virginia<\/a> and it was my familys passion and commitment to make sure that i got the services that i needed to be able to read that ignited by passion to help other children with specific learning challenges get the services that they needed to. So, i went to college at Marshall University<\/a> as a special Education Teacher<\/a> and as tends to happen with girls who go to college, i met a boy who changed my life. [laughter] he was six years old and his name is mike mccoy and i think theyre watching today so hi mike, and hi bev. Mike was born with several health and learning challenges, including a hearing impairment, a Mental Health<\/a> impairment as well as autism spectrum disorder, but mike is blessed with an incredible mom, bev how to help her child and the power of behavior analysis, aba. So, bev worked with another small group of moms in West Virginia<\/a> to fly in experts from california whocr trained them, who then recruited anybody they could find so College Students<\/a> like me and we trained in homes to implement ada therapy. And so with our hard work, mike made so muchto progress. He learned how to communicate at first through sign language and augmentative communication and yes, with his voice. He learned how to play, learned how to connect and learned how to read. So after seeing what i could help someone like mike accomplish, i knew thats what i had to do. And so fast forward after going to graduate school and coming home, back home to West Virginia<\/a>, would he started Bright Futures<\/a> learning services technically as a private school for mike in my grannys kitchen. And then a powerful group again of moms and women who worked to pass legislation, largely thanks, also, to the Affordable Care<\/a> act, our children with autism had coverage and then specifically supplied behavior analysisen coverage. With that, Bright Futures<\/a> was born and i want to thank the president and the vicepresident for your Small Business<\/a> friendly policies truly without the support of the f. D. A. And Resources Available<\/a> to Small Business<\/a>es like mine would not have survived through covid. So, because of those resources we now are employing 48 team members that are the hardest working, most caring people that make a difference in childrens lives every day and so, because of them and the families and the children that we have the immense pleasure to work with, i know that Bright Futures<\/a> continues to have a very bright future. [applause] and now, please join me in welcoming a true champion for Small Business<\/a>, the president of the United States<\/a>, joe biden. [applause]. Really great. Thank you. Good morning. Good afternoon. And before we start im pleased to say that the regulators have taken actions to facilitate the salean of First Republic<\/a> bank ad im sure that all the deposits are protected and that taxpayers are not on the hook. These actions are going to make sure that the Banking System<\/a> is safefe and sound and that includes protecting Small Business<\/a>es across the country who need to make payroll for workers and their Small Business<\/a>es. And so, let me be very clear, all depositors are being protected and shareholders are losing their investments and critically taxpayers are not the ones on the hook as i said earlier. [applause] Going Forward<\/a> ive called on congress to give regulators the tools to hold Bank Executives<\/a> accountable and ive called on regulators to strengthen regulations and supervision of large and regional banks. We and folks, we have to make sure that were not back in in position again. And i think were well on our way to be able to make that assurance, and as i said to my introducer jill, a moment ago, shes really impressive, isnt she . And [applause] and the guy sitting next to her, if you disagree with me, its her husband, and youre in deep trouble. [laughter] well, man. Speaking of Small Business<\/a> youve got your own Small Business<\/a> and i want to thank you. Us look. Folks, weve got a lot to do and most immediate thing we can do is assure the continuing reliance of our economy and the financial system. Most important thing we have to do t in that regard is make sur that the threat by the speaker of the house the default on the National Debt<\/a> is off the table. For over 200 years america has never ever, ever, failed to pay its debt to put in the capital and terms we have never failed to i can make the debt. One of the respected nations in the world we may our bills and b with the maga republicans in congress. Were here todayay because i wat to thank jill and all of you, and jill was last years winner and for hope that your business gives to families that need it, really do. My daughter is a social worker working with abused women in philadelphia, her passion, and so much we can doth in we reach out. And thanks to leader guzman for Small Business<\/a>es across america. And thank vicepresident harris expanded underserved communities throughout america and talking about whatse impact it had on underserved communities. Congratulations on National Small<\/a> business o week award winners, youre models of grit, heart, drive and determination, all the virtues, thats not hyperbole, literally built america. This week, we celebrate that same unstoppable spirit in every entrepreneur nationwide. Small businesses are the engine of our economy, the glue, they really are thean glue, the hear and soul of communities and most citizens dont know it is that you Small Business<\/a> owners you account for 40 . Let me say it again, 40 of the Gross Domestic Product<\/a> of america, Small Business<\/a>es, not megha corporations, Small Business<\/a>es. And you enjoy nearly half, employ nearly half of all private Sector Workers<\/a> and i dont think that people know that. I dont think they understand the consequence, the economic consequence. Youre involved in and youre innovative across every single solitary industry. Now, we saw it here at the white house last month, when i hosted the annual womens business summit to celebrate the critical contributions to Women Entrepreneurs<\/a> make to our economy and we see it here again today, in companies like, i hope i pronounce it right, almay power. Amay . I believe its right. Floridas Small Business<\/a>es award winner, business week winner, you won. [laughter] whats the big deal . Immigrants from latin america, high powered, converting our shift to Clean Energy Future<\/a> and we see in businesses like begin with therapy, illinois winner, a clap for that one, too. [applause] it started eight years ago in one room in chicagos south side and now provides 20,000 Mental Health<\/a> care appointments a year, helping change the community for better. Every business here has a story andor the Small Business<\/a> administration has helped tell the stories, your stories, and to grow your businesses, and its one of the best investments, its not hyperbole, one m of the best tht america can make. Supporting Small Business<\/a>es is part of my plan to grow the economy from the middle out and bottom up. I came from a working class family, not a while lot trickled down. And trickle down economy, know the a lot on my dads table. Were billing from the middle out and bottom up. When i took office, economy was reeling, Small Business<\/a>es were getting crushed. Hundreds of thousands of small literally hundreds of thousands of Small Business<\/a>es across america had been closed and closed forever. Millions more were hanging by a thread. Many of you remember that fear of not only losing your livelihood losing your dream. Your life saving, your hope of leaving something behind for your kids. We moved fast. Within weeks reformed the Paycheck Protection Program<\/a> to get help to thousands of Small Business<\/a>es, some right here on this lawn that had been shut out during the prior administration, i signed the American Rescue<\/a> plan and sum total we delivered 450 billion in relief to six million Small Business<\/a>es, including many of yours. Andra by the way, you generated with your businesses more of that in revenue than you got help out with. Youu pay your bills. You paid your workers. You kept your doors open. You grew the economy. We gave initial support to 100,000 restaurants and 220,000 childdi care centers which so many working parents rely on and imagine if wee didnt do that, what the impact and the economist, how many of those 220,000 women and men would be able to continue to work . By the way not a single republican voted for that bill. Next i signed the bipartisan infrastructure law. How can we be the strongest nation in the World Without<\/a> the strongest infrastructure in the world. Were making intersections safer, were making sure communities can connect to the internet affordably and reliably. Making sure the water you drink is safe. Eliminating lead pipes in america, soho you can assure th 400,000 schools inns america whn your kid turns on that faucet to take a drink theyre not getting sick. Look, were making a whole economy stronger for years to come. You pass the kitchen science act one of the most significant ever in manufacturingon and research and eadevelopment. We attracted over 400 billion dollars in less than two years in private Sector Investment<\/a> creating tens of thousands of jobs now and in the future. We are going to lead the world again and in manufacturing and sale of smooibs, we invented them. We made them smaller, we made them for technically capable and we ended up, because of the last 15 years, getting down and having only 10 of the market. Its building industry of the future and the Small Business<\/a> ands supply chains to support them right here at home. I signed the inflation reduction act, most aggressive action toth fight climate ever anywhere in the world creating new markets for small, clean energy companies. Put all of that together and my plan is quite simple, invest in america. You know, if i hold a second here. You know, the fact is i want to make something clear, were in a situation where back in the 30s there was a proposal that we c could invest any money the president spent of taxpayers money, he can insist to be made by american manufacturers and use American Products<\/a>, but not many people had the willingness to do it. Well, i changeled that. The fact is were making it in america, we are building in america and using American Products<\/a> and american workers. That investment is being led by all of you here, americas Small Business<\/a>es and its led to a Small Business<\/a> boom. Todayic were in the midst of te strongest economic recovery on record. In less than two years weve created 12. 6 million new jobs. More jobs in two years than any president s created in his first four years in office. Unemployment is near 50 low. Inflation is slowing down, 40 since last year, we have more to do. Its historic turnaround and its giving people confidence to risk starting a New Enterprise<\/a> pan by the way, a record 10. 5 million new Business Applications<\/a> were filed in my first two years. The largest number ever on record in a twoyear period. And was tracking it. Every time someone starts a new business, you know what it is, its an act of hope. Its an act of hope. It really matters about who we are. One year ago, i unveiled the administrations Small Business<\/a> strategy. Todayog were releasing the report card and the progress we made. Maybe i should say the progress you made. You made. Weve seen weve set a record for stral contract spending, contract spending on Small Business<\/a>es. Making sure they benefit from the historic investment in americanan infrastructure industry and the economy and working hard to expand access to capital, help promising businesses continue to grow. Small Business Administration<\/a> last year provided 43 billion dollars in low cost loans to many of you here on this lawn and all across america. Finalized new rules to expand credit tos rural, women, vetern owned Enterprises Working<\/a> with nontraditional lenders like nonprofits. And invested 10 billion in state level Small Business<\/a> programs drawing tens of billions more from private funding andnd for small companies. We made this progress, believe it or not, if you dont listen to the other team, by being fiscally responsible. Unlike the last guy we cut the deficit 1. 7 billion dollars. Trillion, trillion. Not billion dollars, trillion dollars, in less than two years and we are going to bring it down hundreds of billions more, decades ahead by making the super wealthy and big corporations begin to pay their fair share, just their fair share. By the way, you know, we have about a thousand billionaires, know what their average tax rate is . Eight, eight percent. Yeah, that he is what i think, too. 8 . Thats a burden. Folks, how many do you think, its a serious question, press can participate if they want to, too. How many think the tax system we have today is fair . Notice all the hands that went up. Folks, thats why we instituted a corporate minimum tax to 15 . 15 . S hell, School Teachers<\/a> pay a hell of a lot more than 15 . Look, now a Small Business<\/a> can finally start to compete on had a levele Playing Field<\/a> and by the way one of the reason were able to get the debt down to 1. 7 trillion dollars, and reduce the debt is because all we did remember, you got tired of hearing me speaking the last two years, 550 american corporations half a billion 4400 billion dollars and didnt pay a penny in taxes and somehow people thought like me that wasnt fair to do so we got change. Instead of 15 of tax, what a burden. Paid for everything, and now the other team wants to repeal it because they think its unfair. Folks, look, all of that is the sharp contrast to our friends on the other side. Last week Speaker Mccarthy<\/a> passed a partisan bill that wouldee claw back billions of dollarsk meant for Small Business<\/a>es. It would gut training and support, make it harder for veterans owned businesses to win federal contracts, slash funding for Small Business<\/a> Administration Inspector<\/a> general who fights fraud and abuse to keep this program on the level. Extreme maga plan would cut funding for education, public safety, including cut 60,000 public School Teachers<\/a>. Take health care and Food Assistance<\/a> away from millions of work and families. Moodys suggest it would cost us 780,000 jobs lost if passed, not me, moodys. Put the economy at risk refusing to pay our nations bill. Let me be clear, our nations debt has taken over 200 years to accumulate. Thats what were paying for. We are not paying what were spending now. 200 years, 200 years of debt and by the way, the previous four years, the last guy increased entirety to the National Debt<\/a> by 40 . Threatening default now would bell totally irresponsible, woud lead to higher interest rates, higher credit card rates, Mortgage Rates<\/a> would skyrocket. Working class and middle class andis seniors would pay the price. Let me close with this. Weve made so much progress in thee last two years now its time for us to finish the job. Expand opportunities so people with great ideas can launch strong businesses, help grow our economy and leave no one behind. Thats what entrepreneurs here today do what youre doing, you continue to do. You see the possibilities to make this all real and youre the reason why, ive never been more sincere, im optimistic about what we are today. We have to remember who we are. Think about it. Were the United States<\/a> of america. Theres not a damn thing beyond our compass if i if we do it together. We have never ever ever failed when we set a goal and done it together. Folks, lets keep it going, god you all and may god protect our troops. Thank you. [applause]. Cspan is your unfiltered view of government. Were funded by these Television Companies<\/a> and more, including midco. Midco supports cspan as a Public Service<\/a> along with these other telision providers, giving you a front row seat to democracy. Live sunday, attorney and author Phillip K Howard<\/a> will be our guest in depth, to take your calls on governmentnd legal reform in america. Written six books, including collapse of the common good, life without lawyers, and best seller. Join the live conversation with attorney and author phil k. Howard sunday noon eastern on book tv on cspan2. Watch video on demand anytime online at cspan. Org. And try our points of interest feature, a timeline tool that uses markers to quickly guide you to news worthy and highlights of our key coverage. Use points of interest anytime online at cspan. Org. This morning, on capitol hill, Senate Lawmakers<\/a> continue to work on the nominees for District Court<\/a> judges for new jersey and new york. Now live to the floor of the u. S. Senate here on cspan2. Senate will come to order. The chaplain, the reverend dr. Barry black, will open the senate in prayer. The chaplain let us pray. Almighty god, our hope and guid,","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia601206.us.archive.org\/19\/items\/CSPAN2_20231216_093800_President_Biden_Remarks_on_Lowering_Prescription_Drug_Costs\/CSPAN2_20231216_093800_President_Biden_Remarks_on_Lowering_Prescription_Drug_Costs.thumbs\/CSPAN2_20231216_093800_President_Biden_Remarks_on_Lowering_Prescription_Drug_Costs_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240707T12:35:10+00:00"}