S10670 CONGRESSIONAL RECORD — SENATE November 19, 2008 

and 2010, $150,000,000 for payments made 

under clause (i). 

SEC. 7. MICROLENDING. 

In addition to any amounts otherwise authorized to be appropriated for such purposes, there are authorized to be appropriated to the Administrator for each of fiscal years 2009 and 2010— 

(1) $5,000,000 for direct loans under section 

7(m) of the Small Business Act (15 U.S.C. 

636(m)); and 

(2) $20,000,000 for grants to intermediaries 

for marketing, management, and technical 

assistance under section 7(m)(4) of the Small 

Business Act (15 U.S.C. 636(m)(4)). 

SEC. 8. SMALL BUSINESS INVESTMENT COMPANIES. 

Section 303(b) of the Small Business Investment Act of 1958 (15 U.S.C. 683(b)) is 

amended— 

(1) by striking paragraph (2) and inserting 

the following: 

‘‘(2) MAXIMUM LEVERAGE.— 

‘‘(A) IN GENERAL.—The maximum amount 

of outstanding leverage made available to 

any 1 company licensed under section 301(c) 

may not exceed the lesser of— 

‘‘(i) 300 percent of the private capital of the 

company; or 

‘‘(ii) $150,000,000. 

‘‘(B) MULTIPLE LICENSES UNDER COMMON

CONTROL.—The maximum amount of outstanding leverage made available to 2 or 

more companies licensed under section 301(c) 

that are commonly controlled (as determined by the Administrator) and the private 

capital of which the Administrator determines meets the requirements of subsection 

(e) may not exceed $225,000,000.’’; and 

(2) by striking paragraph (4). 

SEC. 9. EMERGENCY SMALL BUSINESS LENDING 

ADVERTISING STRATEGY. 

Section 4 of the Small Business Act (15 

U.S.C. 633) is amended by adding at the end 

the following: 

‘‘(i) EMERGENCY SMALL BUSINESS LENDING

ADVERTISING STRATEGY.— 

‘‘(1) PURPOSE.—The purpose of this subsection is to ensure that the Administrator 

provides information to the owners of small 

business concerns regarding lenders in their 

areas that participate in programs of the Administration and that will allow small business concerns to access business capital during a liquidity and capital lending shortage. 

‘‘(2) LENDING ADVERTISING STRATEGY.—The 

Administrator shall develop an emergency 

small business lending advertising strategy 

to inform small business concerns located 

throughout the United States that loans 

under this Act are available through lenders 

that participate in programs of the Administration. 

‘‘(3) MEDIA.—The Administrator shall use 

print, radio, television, and Internet advertisement, where appropriate, to carry out 

this subsection. 

‘‘(4) EFFECTIVE DATE.—Not later than 30 

days after the date of enactment of this Act, 

the Administrator shall implement the 

emergency small business lending advertising strategy. 

‘‘(5) AUTHORIZATION OF APPROPRIATIONS.— 

There are authorized to be appropriated to 

carry out this subsection— 

‘‘(A) $5,000,000 for each of fiscal years 2009 

and 2010; and 

‘‘(B) such sums as may be necessary for 

each fiscal year thereafter.’’. 

SEC. 10. TAX PROVISIONS. 

(a) EXTENSION OF TEMPORARY INCREASE IN

LIMITATIONS ON EXPENSING OF CERTAIN DEPRECIABLE BUSINESS ASSETS.— 

(1) IN GENERAL.—Paragraph (7) of section 

179(b) of the Internal Revenue Code of 1986 is 

amended— 

(A) by inserting ‘‘AND 2009’’ after ‘‘2008’’ in 

the heading, and 

(B) by inserting ‘‘or 2009’’ after ‘‘In the 

case of any taxable year beginning in 2008’’. 

(2) EFFECTIVE DATE.—The amendments 

made by this subsection shall apply to taxable years beginning after December 31, 2008. 

(b) CARRYBACK OF CERTAIN NET OPERATING

LOSSES ALLOWED FOR 5 YEARS; TEMPORARY

SUSPENSION OF 90 PERCENT AMT LIMIT.— 

(1) IN GENERAL.—Subparagraph (H) of section 172(b)(1) of the Internal Revenue Code of 

1986 is amended to read as follows: 

‘‘(H) 5-YEAR CARRYBACK OF CERTAIN

LOSSES.— 

‘‘(i) TAXABLE YEARS ENDING DURING 2001 AND

2002.—In the case of a net operating loss for 

any taxable year ending during 2001 or 2002, 

subparagraph (A)(i) shall be applied by substituting ‘5’ for ‘2’ and subparagraph (F) 

shall not apply. 

‘‘(ii) TAXABLE YEARS ENDING DURING 2008

AND 2009.—In the case of a net operating loss 

with respect to any eligible taxpayer for any 

taxable year ending during 2008 or 2009— 

‘‘(I) subparagraph (A)(i) shall be applied by 

substituting ‘5’ for ‘2’, 

‘‘(II) subparagraph (E)(ii) shall be applied 

by substituting ‘4’ for ‘2’, and 

‘‘(III) subparagraph (F) shall not apply. 

‘‘(iii) ELIGIBLE TAXPAYER.—For purposes of 

clause (ii), the term ‘eligible taxpayer’ 

means a corporation or partnership which 

meets the gross receipts test of section 448(c) 

(determined by substituting ‘$10,000,000’ for 

‘$5,000,000’ and ‘5-taxable-year period’ for ‘3- 

taxable-year period’) for the taxable year in 

which the loss arose (or, in the case of a sole 

proprietorship, which would meet such test 

if such proprietorship were a corporation.’’. 

(2) TEMPORARY SUSPENSION OF 90 PERCENT

LIMIT ON CERTAIN NOL CARRYBACKS AND

CARRYOVERS.— 

(A) IN GENERAL.—Section 56(d) of the of the 

Internal Revenue Code of 1986 is amended by 

adding at the end the following new paragraph: 

‘‘(3) ADDITIONAL ADJUSTMENTS.—For purposes of paragraph (1)(A), in the case of an 

eligible taxpayer (as defined in section 

172(b)(1)(H)(iii)), the amount described in 

clause (I) of paragraph (1)(A)(ii) shall be increased by the amount of the net operating 

loss deduction allowable for the taxable year 

under section 172 attributable to the sum 

of— 

‘‘(A) carrybacks of net operating losses 

from taxable years ending during 2008 and 

2009, and 

‘‘(B) carryovers of net operating losses to 

taxable years ending during 2008 or 2009.’’. 

(B) CONFORMING AMENDMENT.—Subclause 

(I) of section 56(d)(1)(A)(i) of such Code is 

amended by inserting ‘‘amount of such’’ before ‘‘deduction described in clause (ii)(I)’’. 

(3) ANTI-ABUSE RULES.—The Secretary of 

Treasury or the Secretary’s designee shall 

prescribe such rules as are necessary to prevent the abuse of the purposes of the amendments made by this subsection, including 

anti-stuffing rules, anti-churning rules (including rules relating to sale-leasebacks), 

and rules similar to the rules under section 

1091 of the Internal Revenue Code of 1986 relating to losses from wash sales. 

(4) EFFECTIVE DATES.— 

(A) SUBSECTION (a).—The amendments 

made by paragraph (1) shall apply to net operating losses arising in taxable years ending 

in 2008 or 2009. 

(B) SUBSECTION (b).—The amendments 

made by paragraph (2) shall apply to taxable 

years ending after December 31, 2007. 

SEC. 11. TROUBLED ASSETS. 

Section 3(9) of the Emergency Economic 

Stabilization Act of 2008 (division A of Public 

Law 110–343) is amended— 

(1) in subparagraph (A), by striking ‘‘and’’ 

at the end; 

(2) by redesignating subparagraph (B) as 

subparagraph (C); and 

(3) by inserting after subparagraph (A) the 

following: 

‘‘(B) a trust certificate issued by the Administrator of the Small Business Administration under section 5(g) of the Small Business Act (15 U.S.C. 634(g)), a loan guaranteed 

by the Small Business Administration under 

section 7(a) of the Small Business Act (15 

U.S.C. 636(a)), and a trust certificate issued 

under section 505 of the Small Business Investment Act of 1958 (15 U.S.C. 697), including an underlying debenture, the purchase of 

which the Secretary determines promotes financial market stability; and’’. 

By Mrs. CLINTON: 

S. 3706. A bill to amend part D of 

title IV of the Social Security Act to 

prohibit States from charging child 

support recipients for the collection of 

child support; to the Committee on Finance. 

Mrs. CLINTON. Mr. President, in a 

time of rising prices and historic economic turmoil, single parents deserve 

our support more than ever. That is 

why I am introducing the Elimination 

of the Single Parent Tax Act of 2008. I 

am proud to join my colleague Congresswoman GILLIBRAND in introducing 

this important legislation to help single parents by suspending State fees to 

fund child support enforcement. 

Many states, including New York, 

were forced to institute this fee after 

the Republican-lead Congress passed 

the Deficit Reduction Act of 2005, 

which slashed funding for child support 

enforcement. The fee is expected to affect 170,000 families in New York alone. 

These single parents need every penny 

of their child support income to go towards food, medicine, and other important expenses. The Elimination of the 

Single Parent Tax Act ensures that 

hard-working single parents don’t face 

an extra tax. 

In September, I joined my Senate 

colleagues in urging the Senate Appropriations Committee leadership to increase funding for child support enforcement to stave off these deep cuts. 

And today, I encourage my colleagues 

to join me in sponsoring this critical 

measure to support single parents. 

For too long, single-parent households have been ignored at a time when 

raising children has only become more 

of a struggle. Yet despite these challenges, single parents heroically soldier on. This bill is only a critical first 

step to a more comprehensive approach 

to supporting single parents raising 

children. I look forward to continuing 

to fight in the Senate to stand up for 

our most vulnerable children and our 

hardest-working families. 

By Mrs. CLINTON: 

S. 3707. A bill to recruit, train, and 

support principals for high-need 

schools who are effective in improving 

student academic achievement; to the 

Committee on Health, Education, 

Labor, and Pensions. 

Mrs. CLINTON. Mr. President, I rise 

today to introduce legislation to address the urgent need of our underserved urban and rural school districts 


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November 19, 2008 CONGRESSIONAL RECORD — SENATE S10671 

by creating a corps of principals who 

are well-prepared, supported, and effective in improving student academic 

achievement in high-need schools and 

ensuring our schools are provided the 

leadership they need to prepare our 

children to compete in the 21st century. 

The U.S. Department of Labor estimates that nearly 40 percent of the 

90,000 principals in this country are 

nearing retirement, and over half the 

Nation’s school districts are facing immediate administrator shortages. This 

problem is particularly prevalent in 

urban and rural districts with large 

concentrations of high-poverty schools, 

where turnover rates can reach as high 

as 20 percent per year, and academic 

achievement is persistently low. 

That is why I’m introducing the National Principal Recruitment, NPR, 

Act, which seeks to address the impending shortage by establishing a 

corps of principals who are well-prepared, supported, and effective in improving student achievement in highneed schools. This corps is created 

through the recruitment of results-oriented candidates who possess personal 

leadership and management skills, 

knowledge of effective instruction, and 

commit to serve in high-need schools 

for over 5 years. Once selected, these 

candidates would undergo a year-long 

principal residency program, and receive support and mentoring to help 

them develop and maintain a datadriven, professional learning community. 

This bill leverages non-Federal dollars with targeted funding to performance-based work done in partnership 

with school districts. It also includes 

an evaluation to capture knowledge 

and best practices and creates a prototype of a performance-based Federal 

education program by tying funding 

levels to an evaluation of student 

achievement results. 

An effective and capable school leader can make the difference in providing 

the tools and instructional support 

needed to foster the type of school environment conducive to student academic success. The NPR Act will ensure that our neediest schools have effective leaders, who are well-equipped 

and supported, to close the achievement gap and prepare our students to 

compete in a global economy. 

I am hopeful that my Senate colleagues from both sides of the aisle will 

join me today to move this legislation 

to the floor without delay. 

By Mrs. CLINTON: 

S. 3708. A bill to amend the Public 

Health Service Act with respect to 

health professions education, and for 

other purposes; to the Committee on 

Health, Education, Labor, and Pensions. 

Mrs. CLINTON. Mr. President, today, 

I am introducing the Health Professions and Primary Care Reinvestment 

Act in order to improve access to quality health care for all Americans. By 

significantly reinvesting in the training and education of our health professionals, we are reinvesting in our communities where care is most needed. 

This bill reinvests in health professional training in three ways—by expanding the training our health professionals receive, by improving our efforts to recruit and retain health professionals, and by increasing incentives 

for health professionals who are serving in community settings, particularly in rural and urban underserved 

areas. 

Most Americans prefer to get their 

health care through a personal physician operating as part of a team-based 

primary care practice, yet the number 

of health professional students entering these fields is decreasing. We need 

more workers in primary care at the 

front lines of the health care system. 

Primary care professionals can help to 

establish a ‘‘medical home’’ for patients, providing preventive care to 

help people stay healthy and provide 

coordination of care for those with 

multiple or chronic diseases. This bill 

would achieve this goal by providing 

incentives for training primary care 

professionals, by strengthening primary care departments at the school 

and community level, and by supporting improved infrastructure to assist those serving in primary care settings. 

Minorities, disadvantaged and rural 

students are underrepresented in our 

health professional workforce. We need 

to increase their numbers in the medical fields, and provide incentives for 

them to return to underserved areas to 

practice. As an example of what can be 

done, one program targeting rural students has returned eight times the 

usual number of trained family physicians to rural settings. We need to 

train people from all backgrounds— 

from underrepresented minorities, 

from disadvantaged backgrounds, from 

rural and urban underserved communities. This bill helps to achieve this 

goal by strengthening pipeline programs, expanding loans and scholarships, and by increasing the availability of care in underserved communities. 

We need health care where people 

live and work. Americans should be 

able to access care in communities 

that are located far from hospitals and 

medical centers, in the poorest neighborhoods of cities and isolated rural 

areas. We need to support the institutions that the most vulnerable rely on 

for care, like community health centers, local departments of health, and 

nursing homes. This bill supports new 

models of care for training, recruiting, 

supporting and retaining faculty to 

serve in underserved settings, and provides infrastructure support for training students in community settings 

outside of the hospital, where patients 

need care. 

In addition to addressing primary 

care, the legislation also works to address other health fields which are 

often inaccessible to patients. Dental 

care in the United States has become a 

luxury that is unaffordable to many 

people. Dentists are often unable to 

sustain careers by teaching in dental 

schools training the next generation of 

professionals, or to work in communities where the need is greatest. This 

bill provides support for dentists to 

pursue academic teaching careers and 

to provide general care to both adults 

and children. It targets underrepresented minority dentists and those 

who will serve in communities where 

the need is greatest. 

One impediment to good health for 

people with mental health problems is 

lack of care coordination. Too often 

the psychological problem goes 

undiagnosed or untreated, because our 

health care system operates in silos. 

Patients are often asked to go one 

place to meet physical health needs 

and another place to meet mental 

health needs. This bill provides support 

for training and care where the health 

professionals work together to co-manage mental health and physical health 

problems toward better overall health. 

We, as a nation, are getting older. As 

we age, our health concerns change. 

Many seniors take multiple medications which need to be coordinated by 

a team of doctors, pharmacists, and 

other caregivers. The Health Professions and Primary Care Reinvestment 

Act reinvests in our geriatric training 

programs by expanding opportunities 

for doctors, pharmacists, psychologists, dentists and others to work with 

patients in rehabilitation centers, at 

home, in nursing homes or other settings where people live or work. 

Our public health and preventive 

medicine professionals respond to crises like SARS, anthrax, and other infectious disease outbreaks. But they 

also work to educate the public about 

ways to stay healthy, and prevent 

chronic diseases. They contribute to 

the health care safety net with services 

like adult and childhood vaccinations. 

This bill helps to support these efforts 

by reinvestment in training for prevention. It links schools of public health 

with local and State departments of 

health in order to train professionals 

to work and serve in settings where 

they are most needed. 

Finally, and very importantly, we 

must better understand the demands 

that will be made upon our health professional workforce. This bill provides 

authorization for the formation of a 

national and multiple regional health 

workforce analysis centers, along with 

an advisory committee comprised of 

administrative and health professional 

leadership. These entities will assess, 

review and oversee health professional 

workforce needs so that we can plan 

and prepare a new generation of health 

professionals in our schools and communities. 

The Health Professions and Primary 

Care Reinvestment Act addresses the 

multiple challenges facing healthcare 

workforce development in our country. 


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