Sen. Snowe Pushes for Cabinet-Level Status for SBA

The top Republican on the Senate Small Business and Entrepreneurship Committee sent a letter Monday to President-elect Barack Obama urging him to elevate the Small Business Administration to Cabinet-level status.

"During these challenging economic times, it is imperative that the SBA, the federal agency supporting the single-largest creator of jobs in this country, is part of every conversation President-elect Obama has about restoring confidence in the economy," said Sen. Olympia Snowe (R-Maine). "As I told members of his transition team when they asked to meet with me last week, restoring the SBA's place in the Cabinet is essential. Furthermore, we must work together to reverse the current Administration's eight-year pattern of shortchanging the SBA's budget which has severely limited the services and capital available to growing enterprises."

Snowe said in the letter that a Cabinet-level designation "will send a clear signal that small business will drive our nation out of this recession. The SBA is the primary agency within the federal government tasked with the responsibility of assisting small businesses, and it should have a seat at the table when it comes to revitalizing the economy, a top national priority."

The SBA held Cabinet-level status in the Clinton administration.

By Sharon McLoone |  December 8, 2008; 5:04 PM ET Economy Watch , Election 2008
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