Senate Votes More Money For SBA The Senate added $121 million to the Small Business Administration’s 2005 budget in the budget resolution, S. Con. Res. 95, passed on March 12. The sponsor of the amendment, Senate Small Business Committee Chair Olympia Snowe (R-ME), said it will provide the appropriations committee with authority to increase funding for the 7(a) loan program, Small Business Development Centers and the Microloan program. The Bush administration proposed dropping funds for the Microloan program and eliminating funding for the 7(a) program, raising fees and making the program self-supporting. The president’s budget request reduces SBA’s overall budget to $678 million, a 15% cut from 2004. Most of the reduction is the result of making the 7(a) loan program self-supporting. Snowe and House Small Business Committee Chairman Donald Manzullo (R-IL) both decried the deep cuts. While he endorsed the administration budget, Manzullo said SBA’s real funding level has been reduced by 20% since 2001. Democratic members of the House committee denounced the administration proposal as inadequate. Rep. Denise Majette (D-GA) said the president should be nicknamed “The Terminator” for eliminating so many SBA programs. Congressional appropriations committees have the final say on funding. “The Bush administration’s SBA budget proposal for next year slates important initiatives focused on low-income and rural entrepreneurs for termination and provides no enforcement dollars to help open up the federal marketplace to small companies,” said the ranking Democrat, Rep. Nydia Velazquez (NY). Congressional appropriations committees have the final say on funding.