History
The SBA was created on July 30, 1953, by President Eisenhower with the signing of the Small Business Act. Its function was and is to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns".
The SBA has survived a number of threats to its existence. In 1996, the Republican-controlled House of Representatives planned to eliminate the agency. It survived and went on to receive a record high budget in 2000. Renewed efforts by the Bush Administration to end the SBA loan program met congressional resistance, although the SBA's budget was repeatedly cut, and in 2004 certain expenditures were frozen. The Obama Administration has supported the SBA budget. Significant supplemental appropriations for the agency strengthened SBA lending through the American Recovery and Reinvestment Act of 2009 and the Small Business Jobs Act of 2010.
Read more about this topic: Small Business Administration
Famous quotes containing the word history:
“Boys forget what their country means by just reading “the land of the free” in history books. Then they get to be men, they forget even more. Liberty’s too precious a thing to be buried in books.”
—Sidney Buchman (1902–1975)
“This above all makes history useful and desirable: it unfolds before our eyes a glorious record of exemplary actions.”
—Titus Livius (Livy)
“The basic idea which runs right through modern history and modern liberalism is that the public has got to be marginalized. The general public are viewed as no more than ignorant and meddlesome outsiders, a bewildered herd.”
—Noam Chomsky (b. 1928)