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251 lines
8.9 KiB
Plaintext
251 lines
8.9 KiB
Plaintext
***** Reformated. Please Distribute.
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CLINTON/GORE ON SMALL BUSINESS
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Bill Clinton and Al Gore believe in business. They
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believe in the marketplace. They know that
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economic growth will be the best jobs program this
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country will ever have. Small businesses create
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most of the new jobs in this country and they need
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to flourish if we are all to prosper.
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America cannot afford another four years without a
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strategy to make our economy grow again. We must
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put an end to the era of rewarding outrageous
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executive pay and shipping American jobs overseas
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while leaving small businesses without basic
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support.
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Bill Clinton and Al Gore will make the change.
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They will encourage small business people and
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entrepreneurs to take risks, and reward those with
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the patience, the courage, and the determination to
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create new jobs. A Clinton/Gore Administration
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will provide incentives for those who start new
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businesses and develop new technologies. And it
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will make sure that the small defense contractors
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who helped win the Cold War don't get left out in
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the cold.
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Create incentives for small businesses to invest
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* Offer a new enterprise tax credit that
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provides a 50 percent tax exclusion for those
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who take risks by making long-term investments
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in new businesses.
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* Provide a targeted investment tax credit to
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encourage investment in new plants and
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productive equipment here at home that we need
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to compete in the global economy.
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* Make permanent the research and development
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tax credit to reward companies that invest in
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ground-breaking technologies.
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Contain small business health care costs
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* Provide affordable, quality health care for
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all Americans, while protecting small
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businesses from rising health care costs.
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* Phase in small employer and new business
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health care responsibilities until costs are
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reduced. In the interim their employees will
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be covered by the public health care program
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with co-payment requirements to discourage
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over-utilization and encourage shared
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responsibility.
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* Stop underwriting practices that divide
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Americans into small risk groups and raise the
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cost of health care coverage for small
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business. Institute a broad-based community
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rating system to guarantee access, continuity
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and renewability of coverage.
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* Allow small businesses to buy into a public
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health program if it is less expensive than
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similar plans offered by private insurers.
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* Promote managed competition by eliminating
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barriers to small businesses that want to band
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together to form larger groups to purchase
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health insurance at lower prices.
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Facilitate defense conversion for small defense
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contractors
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* Increase technical, financial, and marketing
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assistance to Americas small businesses, which
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will be critical in the provision of new,
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high-tech jobs for former small defense
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contractor employees.
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* Provide small business conversion grants
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through the Small Business Administration
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(SBA) to help small defense contractors
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finance their transition from defense to
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civilian production.
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* Create a small business Technical Extension
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Service, based on the successful Agriculture
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Extension and Minnesotas effective Project
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Outreach Program, to give small businesses
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easy access to technical expertise. A primary
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goal of the Extension Service will be to
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provide information on marketing, finance and
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technology to assist firms converting to
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civilian production.
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* Require the SBA to set aside a percentage of
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its loan program for successful small business
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defense contractors attempting to convert to
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civilian enterprise.
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Increase small business exports and ensure fair
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trade
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* Work to create an open trading system and
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support efforts to reduce trade barriers
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through the General Agreement on Tariffs and
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Trades (GATT).
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* Pass a sharper, stronger Super 301 trade bill
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to encourage our trading partners to permit US
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goods access to their markets.
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* Negotiate a North American Free Trade
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Agreement to promote increased trade with
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Mexico, but only if its fair to American
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farmers and workers and contains provisions to
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protect the environment.
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Encourage small businesses to invest in rural
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areas and inner-cities
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* Set up a national network of small business
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community development banks like the South
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Shore Bank of Chicago and its rural
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counterpart, the Southern Development
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Bancorporation in Arkansas, to give low-income
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entrepreneurs the tools they need to start new
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businesses. Small business is the key to
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employment in our cities and must be
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encouraged. The South Shore Bank has proven
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that free enterprise can flourish with the
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proper financial support in the most
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challenging of circumstances.
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* Create urban enterprise zones to encourage
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investment in inner-city development and
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provide jobs for local residents.
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* Rewrite and pass a stronger Community
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Reinvestment Act that challenges banks to lend
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to entrepreneurs and promotes development
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projects that reinforce community and
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neighborhood goals.
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* Support the Minority Small Business Investment
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Company and other programs that encourage
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development of minority-owned small
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businesses.
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Expanded opportunity for small business
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* In the last half of the 1980s, because of
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Bill Clinton's leadership, the number of
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manufacturing jobs in Arkansas grew at ten
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times the national average. Much of the
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growth was in small business. For example,
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from 1979 to 1991, there was a 142 percent
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increase in the number of Arkansas companies
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exporting products. Nearly 75 percent of these
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companies had less than 200 employees.
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* For the year ending in May 1992, Arkansas
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ranked second nationally in absolute creation
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(+29,000) and second nationally in job growth
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rate.
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* Created the Arkansas Development Finance
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Authority (ADFA) to provide a source of
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long-term, low-interest, and fixed-rate
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financing for economic development projects.
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ADFA was among the first agencies in the
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nation to develop an industrial bond pooling
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program, which enables small businesses to
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participate in the bond market and brings down
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the net interest rate for Arkansas borrowers.
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ADFAs flexible regulations have also brought
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millions of out-of-state dollars into
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Arkansas, and have provided 46 companies more
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than $65 million in bond loans.
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* Reorganized the non-profit Arkansas Capital
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Corporation, which makes reduced interest
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loans to small businesses that do not meet
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requirements for conventional bank loans.
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Between 1985 and April 1992, the ACC approved
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more than $18 million in economic development
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loans. The ACC also sponsored the formation
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of the Arkansas Certified Development
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Corporation, which serves as a vehicle for
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long-term financing under an SBA program.
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* Helped establish the private Southern
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Development Bancorporation, which since 1988
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has made more than $12 million in development
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loans, mainly in Arkansas small businesses.
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* Established a Linked Deposit Program, which
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allows up to $50 million of state funds in
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lending institutions to be loaned to small
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businesses at below-market rates.
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* Senator Gore is the author of the Small
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Business Innovation Development Act of 1982
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which directs the federal government to
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provide a more equitable and effective
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distribution of federal research and
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development funds toward small businesses.
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* Cosponsored numerous bills to encourage small
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business ownership and maintain a favorable
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tax policy for small business growth.
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* Cosponsored the Small Business Capital
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Formation Act, which would provide
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preferential tax treatment for capital gains
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on small business stock held over four years.
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* Cosponsored a bill which would amend the
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Internal Revenue Code to promote small
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businesses. Support for minority businesses
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* Bill Clinton created the Minority Business
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Development Division of the Arkansas
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Industrial Development Commission. The
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Division has given $5.2 million in financial
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assistance to minority-controlled businesses
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in Arkansas and offers regular financial
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advice.
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* Created a Small Business Revolving Loan Fund
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to provide loans to small and minority
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businesses, mainly in rural areas.
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* Al Gore cosponsored numerous bills designed to
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encourage small business ownership and
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maintain a favorable tax policy for small
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business growth.
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* Has consistently supported programs to assist
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businesses owned by minorities and women.
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