Olympia Snowe

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today with my colleague Senator Pryor, during National Small Business Week, to introduce the Independent Office of Advocacy and Small Business Regulatory Reform Act of 2008. This bipartisan measure would ensure the independence of the Small Business Administration, SBA, Office of Advocacy, and provide targeted small business regulatory reforms that would strengthen the Office of Advocacy's voice in protecting our small businesses. Our bill is supported by the SBA Office of Advocacy and National Ombudsman, as well as the National Federation of Independent Business and the U.S. Chamber of Commerce. As Ranking Member of the Senate Committee on Small Business and Entrepreneurship, I recognize that the SBA Office of Advocacy is, regrettably, one of our Government's best kept secrets, and in many cases, the best hope for small businesses faced with overly burdensome Federal regulations. Established in 1976, the Office of Advocacy, headed by the Chief Counsel for Advocacy, is a unique office within the Federal Government. First, the Office of Advocacy is the ``Regulatory Watchdog'' for small businesses. In this capacity, it represents small businesses before the Federal Government in regulatory matters--taking advantage of its statutorily granted independence to argue against Federal regulatory actions that impose too great a burden on small businesses for too little benefit--and to encourage Federal agencies to consider less costly regulatory alternatives. Second, it conducts valuable research to further our understanding of the importance of small businesses to our economy and the forces that have an effect on them. The SBA Office of Advocacy is part of the SBA, and the Chief Counsel for Advocacy is nominated by the President and confirmed by the Senate. At the same time, the office is also intended to be the ``independent'' voice for small business within the Federal Government. It is charged with the duty of representing the views and interests of small businesses before other Federal agencies, and developing proposals for changing government policies to help small businesses. These roles can sometimes come into conflict. The Independent Office of Advocacy and Small Business Regulatory Reform Act of 2008 resolves such conflicts in favor of the small businesses that rely on the Chief Counsel and the Office of Advocacy to be a fully independent advocate within the executive branch. The bill would help to reinforce a clear mandate that the Office of Advocacy must fight on behalf of small businesses, regardless of the position taken on critical issues by the administration. Funding for the Office of Advocacy currently comes from the ``Salaries and Expense Account'' of the SBA's budget. Staffing is allocated by the SBA administrator to the Office of Advocacy from the overall staff allocation for the Agency. In 1990, there were 70 full- time employees working on behalf of small businesses in the Office of Advocacy. The current allocation of staff is 48. The independence and effectiveness of the office is potentially diminished when the Office of Advocacy staff is reduced, at the discretion of the administrator. To address this problem, the Independent Office of Advocacy and Small Business Regulatory Reform Act of 2008 builds a firewall to minimize political intrusion into the management of day-to-day operations of the Office of Advocacy similar to the one that protects Inspectors General in other agencies. The bill would require the Federal budget to include a separate account for the Office of Advocacy drawn directly from General Fund of the Treasury. No longer would its funds come from the general operating account of the SBA. This will free the Chief Counsel for Advocacy from having to seek approval from the SBA administrator to hire staff for the Office of Advocacy. The bill would leave unchanged current law that allows the Chief Counsel to hire individuals critical to the mission of the Office of Advocacy without going through the normal competitive procedures directed by Federal law and the Office of Personnel Management, OPM. This long-standing special hiring authority, which is limited only to employees within the Office of Advocacy, is beneficial because it allows the Chief Counsel to hire quickly those persons who can best assist the Office in responding to changing issues and problems confronting small businesses. In addition to protecting the Office of Advocacy's independence, this bill also provides targeted small business regulatory reform. As the Ranking Member of the Small Business Committee, I have long fought to ensure that small businesses across the country are treated fairly by the Federal Government. Unfortunately, in far too many cases, Federal agencies promulgate rules and regulations without adequately addressing the economic impacts on small businesses. The disproportionate burden that Federal regulations often place on our small businesses cannot be overemphasized. Research published by the Office of Advocacy indicates that small businesses spend an astounding 8 billion hours each year complying with government rules and regulations. More specifically, the smallest firms with fewer than 20 employees, spend approximately 45 percent more per employee than larger firms to comply with Federal regulations. The Regulatory Flexibility Act (RFA) recognizes this situation, as it requires Federal Government agencies to propose rules that keep the regulatory burden at a minimum on small businesses. Enacted in 1980, the RFA requires Federal agencies to analyze the economic impact of proposed regulations when there is likely to be a significant economic impact on a substantial number of small entities. In 1996, I was pleased to support, along with all of my colleagues, the Small Business Regulatory Enforcement Fairness Act, (SBREFA), which amended the RFA. The intent of SBREFA was to further curb the impact of burdensome or duplicative regulations on small businesses, by clarifying key RFA requirements. The Independent Office of Advocacy and Small Business Regulatory Reform Act of 2008 would further improve the Regulatory Flexibility Act by requiring Federal agencies to consider and specifically respond to comments provided by Office of Advocacy. This critical change would ensure that agencies give the proper deference to the Office of Advocacy, and to the comments and concerns of small businesses. This is a straightforward and simple reform that could have major benefits. Finally, our proposal would also clarify that Federal agencies are required to provide pertinent information to the SBA Ombudsman upon request. This noncontroversial, bipartisan legislation is absolutely necessary. I urge my colleagues to support this bill so we can ensure the complete independence of the Office of Advocacy in all matters, and provide our Nation's small businesses and their employees with much needed targeted regulatory relief. Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Ms. SNOWE

Ms. SNOWE. Mr. President, today during National Small Business Week I wish to commend a local auto dealership from Downeast Maine that recently won the Top Drawer Award from the Ellsworth Area Chamber of Commerce. Morrison Chevrolet of Ellsworth has been selling automobiles in Hancock County for nearly 80 years, and it shows no signs of slowing down. The Top Drawer Award is presented annually to either a business or person that makes a lasting contribution to the development and improvement of the greater Ellsworth region. The award was founded in 1980 to commemorate the late Tom Caruso, who established Bar Harbor Airlines to ``Link Maine With The World.'' It is clear that, through Morrison's solid and intelligent commitment to the customer and the community, it is highly worthy of this recognition. Founded in 1930 by the present co-owner Bud Morrison's grandfather, Harry, Morrison Chevrolet began its storied history in Winter Harbor, about 25 miles east of its present location. The dealership has moved over time first to Bar Harbor and then to several locations in Ellsworth, finally settling on a new 23,000-square-foot facility on Route 1 in Ellsworth in 2005. Although it may have relocated, the company has always been owned and run by a member of the Morrison family. Morrison Chevrolet has always stayed on the cutting edge, positioning itself to best survive in a competitive industry. To keep current in providing the best possible service to their customers, Morrison's technicians attend training and certification classes, frequently via the Internet. Workers often use the company's conference room to link in to classes online. Morrison's also makes use of technology to augment its sales by continually increasing its Internet advertising. In fact, Mr. Morrison says that roughly one-third of his sales leads come from the Internet, and the firm ships cars-- even Corvettes--across the country. Additionally, the dealership's Web site is a handy tool for the consumer, allowing clients to search available new and used automobiles, schedule service and maintenance requests, prequalify for purchasing a car, and calculate whether it is wiser for them to buy or lease a vehicle. In addition to providing their customers with convenient options and caring service, Morrison's employees always find time for community involvement. Dave Keep, the used car sales manager, serves as an officer of the Ellsworth Masons, and P.J. Davis, who works in the sales department, is a member of the chamber of commerce's board. And Morrison's general manager Clyde Lewis is a member of the board of directors of the James Russell Wiggins Downeast Family YMCA, which has been assisting Ellsworth area families since 1961. A staple of the local business scene for decades, Morrison Chevrolet is most deserving of the immense honor of the Top Drawer Award. By serving the customer and the community at the same time, Morrison's 47 employees exhibit the generosity and kindness of Downeast Mainers. Furthermore, by continuing to innovate its business practices, Morrison Chevrolet is well-positioned for future success and additional accolades. I commend Bud Morrison and everyone at Morrison Chevrolet for their accomplishments and wish them well in their continuing endeavors.

Ms. SNOWE

Ms. SNOWE. Mr. President, as we celebrate National Small Business Week, which runs April 21 through April 25, 2008, I rise in support of a Senate Resolution--which I introduced along with Chairman Kerry, and other members of the Senate Committee on Small Business and Entrepreneurship--that honors the entrepreneurial spirit of our Nation's nearly 27 million small businesses and the tremendous contributions they make to our economy. Small businesses are the driving force behind our nation's economic growth and job creation. Representing 99 percent of all employers, small businesses create nearly \3/5\ of all net new jobs and generate more than 50 percent of the Nation's nonfarm gross domestic product. They are the foundation, the engine, the core of our economy. Clearly, the greatest source of jobs in this country are the small businesses that are constantly responding to new challenges with innovations and creativity. As Ranking Member of the Senate Committee on Small Business and Entrepreneurship, I have made it one of my top priorities to be an advocate for small businesses, and to help raise the needs and concerns of our countries' job creators. With more than 600,000 small businesses having opened in 2006, this is clearly a sector that deserves our accolades, recognition, and support. Indeed, hope embodies the spirit of the 26.8 million small business owners. They are willing to take risks that others don't, they transform their ideas and dreams into realities, their hobbies become their professions, and their entrepreneurial spirit can be seen in the products and services that make up America. Frankly, this week as we celebrate our Nation's entrepreneurs, we will undoubtedly fall short of fully recognizing what our country's small businesses truly add to our economy. Given the sluggish state of our economy, it is all the more imperative that we fully equip our small businesses, our true job generators, and provide them with the tools--not just to mitigate and stem this crisis--but to be a catalyst for helping to address and ultimately solve it. We must take advantage of the opportunities to help our small businesses thrive. We in Congress should reduce their tax burdens, ensure they receive the business counseling they deserve, and that they have affordable and reliable health insurance options for their employees. One of our most valuable assets for ensuring the success of small businesses is the Small Business Administration, SBA. The SBA is pivotal in overseeing the delivery of financial and business development tools for millions of aspiring entrepreneurs and existing small businesses across the United States. With the SBA being the only Federal agency with the mandate to foster small business growth, we must work to provide the agency with the resources needed to help our nation's entrepreneurs right this economy. So as we celebrate our Nation's small businesses, we must be mindful of Congress's responsibility to ensure that each business has the opportunity to flourish. When accounting for inflation the SBA has seen its core lending and business development program budget cut by 28 percent since 2001, and this trend must simply be reversed. While the SBA touts its ``doing more with less,'' the agency's resources, programs, and employees are stretched too thin, which in the end negatively impacts our Nation's small business and the economy as a whole. As we look ahead, rest assured, I will not hesitate to take action and ensure that this vital sector continues to have the valuable resources it deserves. The SBA has been, and will continue to be, a critical partner to millions of small enterprises as well as aspiring entrepreneurs as they embark on the path to prosperity and job creation. The least we can do is strengthen, not erode, the SBA's core loan and technical assistance programs that have proven time and again to be the keystone in aiding the efforts and dreams of America's entrepreneurs. Today we celebrate our Nation's entrepreneurs and honor America's small businesses. I urge my colleagues to show their support for the small businesses in their states and support this resolution. We must remember that this country's future will be determined by today's small businesses, and the faster we can help them create more jobs, the quicker the economy will rebound, and the stronger its foundation will be.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today with my colleagues Senator Collins and Senator Isakson to introduce legislation that would provide the secretaries of the military departments the authority to pay the necessary expenses that would accompany the presentation of a flag to each child of a servicemember killed in the service of the Nation. The presentation of a remembrance flag to the family of a deceased servicemember is a time-honored tradition for each of the services which commemorates and memorializes the service of our men and women in uniform who have made the ultimate sacrifice to protect the liberties and freedoms we cherish. The remembrance flag is a profound symbol of the enduring appreciation of a grateful Nation. Regrettably, however, there is an oversight in current law affecting which family members of a deceased servicemember may receive a flag. At present, the statute authorizes the secretaries of the services to present only two remembrance flags--one to the parents of the deceased servicemember and one to the person authorized to direct disposition of the servicemember. In many instances, the person authorized to direct disposition is also a primary next of kin of the servicemember. However, in cases where the primary next of kin are the children of the deceased servicemember, which can occur in extended family situations, authorities do not exist for the secretaries of the services to provide a remembrance flag to the children of deceased servicemembers. The legislation that my colleagues and I are introducing today will remedy this oversight. We believe that the children of deceased servicemembers should also be able to receive a remembrance flag in honor of the sacrifice made by their parent. Clearly, this is the right thing to do. I sincerely hope that my colleagues will join Senator Collins, Senator Isakson, and me in supporting this important legislation.

Ms. SNOWE. Mr. President, I rise today to introduce legislation that would provide State and local development finance authorities with greater flexibility in promoting economic growth that meets the changing realities of an ever more global economy. Specifically, my bill would expand the definition of ``manufacturing'' as it pertains to the small-issue Industrial Development Bond, IDB, program to include the creation of ``intangible'' property. I am pleased to be joined by colleagues from both sides of the aisle including Senators Kerry, Smith, and Brown, in introducing this critical legislation to promote economic development. Our Nation's capacity to innovate is a key reason why our economy remains the envy of the world, even during these difficult economic times. Knowledge-based businesses have been at the forefront of this innovation that has bolstered the economy over the long-term. For example, science parks have helped lead the technological revolution and have created more than 300,000 high-paying science and technology jobs, along with another 450,000 indirect jobs for a total of 750,000 jobs in North America. It is clear that the promotion of knowledge-based industries can be a key economic tool for states and localities. This is especially true for states that have seen a loss in traditional manufacturing. In my home state of Maine, we lost 28 percent of our total manufacturing employment over the last decade. I believe that it critical that we provide states and localities with a wider range of options in promoting economic development. My legislation will do just that by expanding the availability small-issue IDBs to new economy industries, such as software and biotechnology, that have proven their ability to provide high-paying jobs. These IDBs allow State and local development finance authorities, like the Finance Authority of Maine, to issue tax-exempt bonds for the purpose of raising capital to provide low-cost financing of manufacturing facilities. These bonds, therefore, provide local authorities with an invaluable tool to attract new employers and assist existing one's to grow. The result is a win- win situation for local communities providing them with much needed jobs. Consequently, it only makes since to ensure that these finance authorities have maximum flexibility in options to grow jobs. In addition, my bill provides some technical clarity to distinguish between the phrases ``functionally related and subordinate facilities'' and ``directly related and acillary facilities.'' Until 1988, there was little confusion based on Treasury regulations going back to 1972 that made it clear that ``functionally related and subordinate facilities'' were clearly eligible for financing through private activity tax-exempt bonds. But, Congress enacted the Technical and Miscellaneous Revenue Bond Act of 1988 that imposed a limitation that not more than 25 percent of tax- exempt bond financing could be used on ``directly related and ancillary facilities.'' While these two phrases appear to be very similar, they are indeed distinguishable from each other. Unfortunately, the Internal Revenue Service has blurred this distinction between the phrases which has had an adverse impact on the way facilities are able to utilize tax-exempt bond financing. My legislation would make it clear that ``functionally related and subordinate facilities'' are not susceptible to the 25 percent limitation. We must continue to encourage all avenues of economic development if Americas to compete in a changing and increasingly global economy and my legislation is one small step in furtherance of that goal. I urge my colleagues to join me in supporting this bill. Mr. President I ask unanimous consent that the text of the bill be printed in the Record.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today with my colleagues Senator Collins and Senator Isakson to introduce legislation that would provide the secretaries of the military departments the authority to pay the necessary expenses that would accompany the presentation of a flag to each child of a servicemember killed in the service of the Nation. The presentation of a remembrance flag to the family of a deceased servicemember is a time-honored tradition for each of the services which commemorates and memorializes the service of our men and women in uniform who have made the ultimate sacrifice to protect the liberties and freedoms we cherish. The remembrance flag is a profound symbol of the enduring appreciation of a grateful Nation. Regrettably, however, there is an oversight in current law affecting which family members of a deceased servicemember may receive a flag. At present, the statute authorizes the secretaries of the services to present only two remembrance flags--one to the parents of the deceased servicemember and one to the person authorized to direct disposition of the servicemember. In many instances, the person authorized to direct disposition is also a primary next of kin of the servicemember. However, in cases where the primary next of kin are the children of the deceased servicemember, which can occur in extended family situations, authorities do not exist for the secretaries of the services to provide a remembrance flag to the children of deceased servicemembers. The legislation that my colleagues and I are introducing today will remedy this oversight. We believe that the children of deceased servicemembers should also be able to receive a remembrance flag in honor of the sacrifice made by their parent. Clearly, this is the right thing to do. I sincerely hope that my colleagues will join Senator Collins, Senator Isakson, and me in supporting this important legislation.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today to introduce legislation that would provide State and local development finance authorities with greater flexibility in promoting economic growth that meets the changing realities of an ever more global economy. Specifically, my bill would expand the definition of ``manufacturing'' as it pertains to the small-issue Industrial Development Bond, IDB, program to include the creation of ``intangible'' property. I am pleased to be joined by colleagues from both sides of the aisle including Senators Kerry, Smith, and Brown, in introducing this critical legislation to promote economic development. Our Nation's capacity to innovate is a key reason why our economy remains the envy of the world, even during these difficult economic times. Knowledge-based businesses have been at the forefront of this innovation that has bolstered the economy over the long-term. For example, science parks have helped lead the technological revolution and have created more than 300,000 high-paying science and technology jobs, along with another 450,000 indirect jobs for a total of 750,000 jobs in North America. It is clear that the promotion of knowledge-based industries can be a key economic tool for states and localities. This is especially true for states that have seen a loss in traditional manufacturing. In my home state of Maine, we lost 28 percent of our total manufacturing employment over the last decade. I believe that it critical that we provide states and localities with a wider range of options in promoting economic development. My legislation will do just that by expanding the availability small-issue IDBs to new economy industries, such as software and biotechnology, that have proven their ability to provide high-paying jobs. These IDBs allow State and local development finance authorities, like the Finance Authority of Maine, to issue tax-exempt bonds for the purpose of raising capital to provide low-cost financing of manufacturing facilities. These bonds, therefore, provide local authorities with an invaluable tool to attract new employers and assist existing one's to grow. The result is a win- win situation for local communities providing them with much needed jobs. Consequently, it only makes since to ensure that these finance authorities have maximum flexibility in options to grow jobs. In addition, my bill provides some technical clarity to distinguish between the phrases ``functionally related and subordinate facilities'' and ``directly related and acillary facilities.'' Until 1988, there was little confusion based on Treasury regulations going back to 1972 that made it clear that ``functionally related and subordinate facilities'' were clearly eligible for financing through private activity tax-exempt bonds. But, Congress enacted the Technical and Miscellaneous Revenue Bond Act of 1988 that imposed a limitation that not more than 25 percent of tax- exempt bond financing could be used on ``directly related and ancillary facilities.'' While these two phrases appear to be very similar, they are indeed distinguishable from each other. Unfortunately, the Internal Revenue Service has blurred this distinction between the phrases which has had an adverse impact on the way facilities are able to utilize tax-exempt bond financing. My legislation would make it clear that ``functionally related and subordinate facilities'' are not susceptible to the 25 percent limitation. We must continue to encourage all avenues of economic development if Americas to compete in a changing and increasingly global economy and my legislation is one small step in furtherance of that goal. I urge my colleagues to join me in supporting this bill. Mr. President I ask unanimous consent that the text of the bill be printed in the Record.

Ms. SNOWE

Ms. SNOWE. Madam President, today I honor a small, privately owned manufacturing business from my home State of Maine with a remarkable dedication to serving the customer. SIGCO, Inc., of Westbrook is a glass and architectural metal fabricator and distributor that exemplifies Maine's stellar manufacturing leadership in this Nation. As ranking member of the Senate Committee on Small Business and Entrepreneurship and cochair of the Senate Task Force on Manufacturing, I constantly see the vital impact that manufacturing has on the health of our Nation's economy. Small companies like SIGCO are absolutely crucial to our Nation's manufacturing sector competing in a global environment, as they account for roughly 99 percent of American manufacturers. This is why we must encourage and support the development of our Nation's small- and medium-sized manufacturers, and underscore the numerous accomplishments of SIGCO and similar firms. Established in 1986, SIGCO inherited a proud tradition of craftwork from Soule Glass Industries, a firm that preceded SIGCO as the local leader in quality glass manufacturing and metal fabrication. SIGCO has demonstrated impressive growth in its operations throughout its history, and, in particular, over the past 4 years, by expanding from 55 employees to 85 and relocating to a newly opened 60,000 square-foot manufacturing facility. SIGCO produces and distributes architectural glass, frameless entrances, shower enclosures, aluminum entrances, acrylic, polycarbonate, and glazing supplies. The company also offers a 5-year warranty on all sealed insulating glass units. SIGCO's target clientele are contract glaziers, retail glass shops, and window manufacturers throughout New England who have come to trust SIGCO for its unrivaled craftsmanship and customer service. SIGCO has demonstrated a consistency in both performance and financial strength, traits that have anchored the company in its achievement. Proof of SIGCO's accomplishments came when U.S. Glass magazine recognized the firm as one of the most influential companies in the glass and metal industry, followed up by the magazine naming company president David McElhinny as one of the trade's most influential people. Mr. McElhinny's leadership has contributed greatly to SIGCO's remarkable expansion, and his years of experience provide the company with a tremendously knowledgeable voice at the helm. SIGCO is also known for its sophisticated production process. To promote efficiency, the company uses two industrial-type cutting lines in its plant. That said, SIGCO also offers individualized products upon customer requests. SIGCO notably uses an advanced edging process that creates clean, ground, or seamed edges for the appropriate type of glass. On top of the cutting and edging processes, SIGCO uses new, state-of-the-art equipment to drill holes and mill cutouts and notches. Additionally, SIGCO uses a convection tempering oven to perfect their heat-treated products. Among a select number of licensees of the DecoTherm process, which allows companies to decorate glass without screen printing or sandblasting, SIGCO can customize designs on glass products to provide quality and unique products to each customer. Finally, SIGCO is one of only five U.S. distributors of Tubelite storefronts and entrances. As former British Prime Minister Benjamin Disraeli poignantly observed, ``The secret of success is constancy to purpose.'' SIGCO embodies Disraeli's definition of success by exhibiting a consistent dedication to its mission, as well as never sacrificing the excellence of its products as the company grows and expands. Proudly representing Maine's ongoing contribution to the manufacturing sector, SIGCO and its employees exemplify the hardwork and ingenuity for which Mainers are well-known. I wish David McElhinny and everyone at SIGCO the best, and look forward to their future endeavors.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today to introduce the Fisheries Capital Construction Fund Enhancement Act of 2008. This bill will help alleviate the potentially devastating economic impacts of recent regulations on the lobster industry issued by the National Marine Fisheries Service, and simultaneously encourage conservation in our Nation's fisheries and enhance the safety of the men and women who make their living at America's most dangerous profession. On October 5, 2007, the National Marine Fisheries Service, or NMFS, issued new regulations that will require ``fixed gear'' fishermen along the Atlantic Seaboard, including lobstermen, to use sinking groundline to connect their traps in large areas of the Gulf of Maine beginning next fall. The rules are intended to prevent entanglements of endangered whales in fishing gear. By NMFS's own estimates, this rule will impose annual costs of approximately $14 million on our fisheries, over 90 percent of which will be borne by the lobster industry. But a report issued by the Government Accountability Office in August 2007 found the agency's economic analysis to be insufficient, and that it could not estimate the extent to which these costly measures would protect whales. While we must protect our endangered species, it is senseless to impose ineffective measures on an already struggling industry. These regulations are particularly concerning given the additional hardships our fishing communities currently face, especially down east where lobster plays an integral role in the regional economy. The groundfish industry, once the lifeblood of this region, is now virtually non-existent, with just one active permit remaining east of Penobscot Bay. Lobster has been the lone bright spot in recent years, with annual landings throughout the state in the neighborhood of $300 million. Unfortunately, early returns for 2007 have declined by more than 20 percent from the record highs of 2005 and 2006, and with fuel and bait prices at record highs, the harvest numbers already are leading to tightening budgets and dwindling profits. The bottom line is that it is no exaggeration to say that these rules could put many lobstermen out of business. The effect on fishing families, and even on entire fishing communities, could be devastating. Furthermore, these rules bring additional safety concerns to the lobster industry. Many offshore areas in Maine have extremely rocky sea floors. Sinking rope vastly increases the likelihood that the line will chaff and snag, wearing the rope to the point that it can suddenly snap, or pulling the boat's rail towards the waterline where it can more easily be swamped and capsized by a large wave. Passage of this bill would be a step toward alleviating the economic and safety impacts of these rules by opening fishermen's individually held Capital Construction Funds, or CCF's, to purchases of fishing gear required to meet conservation measures required within a fishery or for purchase of equipment to increase the safety of life at sea. Currently, fishermen can deposit a portion of their pre-tax income into a CCF, and that money can then be withdrawn for purchase or reconstruction of fishing boats. Expanding the qualified withdrawals from these accounts would reduce the safety and economic impacts of these and other fishing regulations. Furthermore, this bill would provide an additional outlet for the $221 million currently held in CCF's nationwide, limiting the expansion of fishing capacity and enhancing conservation efforts by reducing incentives to buy or upgrade existing vessels. Our fisheries are the only remaining commercial wild capture industries in the Nation; fishermen are the last commercial hunters. As such, they must strike a unique balance between plying their trade and protecting the resource and the environment that supports it. The Nation's managers thus strive to balance the two parallel goals of sustaining our fish stocks and the viability of our fishing industries. The bill I introduce today will help achieve that balance by making fishing gear required for conservation or safety purposes more affordable for America's hard-working fishermen. I want to thank my colleagues, Senators Reed, Kerry, Lieberman, Whitehouse, Collins, and Kennedy for co-sponsoring this legislation. Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today to introduce the Fisheries Capital Construction Fund Enhancement Act of 2008. This bill will help alleviate the potentially devastating economic impacts of recent regulations on the lobster industry issued by the National Marine Fisheries Service, and simultaneously encourage conservation in our Nation's fisheries and enhance the safety of the men and women who make their living at America's most dangerous profession. On October 5, 2007, the National Marine Fisheries Service, or NMFS, issued new regulations that will require ``fixed gear'' fishermen along the Atlantic Seaboard, including lobstermen, to use sinking groundline to connect their traps in large areas of the Gulf of Maine beginning next fall. The rules are intended to prevent entanglements of endangered whales in fishing gear. By NMFS's own estimates, this rule will impose annual costs of approximately $14 million on our fisheries, over 90 percent of which will be borne by the lobster industry. But a report issued by the Government Accountability Office in August 2007 found the agency's economic analysis to be insufficient, and that it could not estimate the extent to which these costly measures would protect whales. While we must protect our endangered species, it is senseless to impose ineffective measures on an already struggling industry. These regulations are particularly concerning given the additional hardships our fishing communities currently face, especially down east where lobster plays an integral role in the regional economy. The groundfish industry, once the lifeblood of this region, is now virtually non-existent, with just one active permit remaining east of Penobscot Bay. Lobster has been the lone bright spot in recent years, with annual landings throughout the state in the neighborhood of $300 million. Unfortunately, early returns for 2007 have declined by more than 20 percent from the record highs of 2005 and 2006, and with fuel and bait prices at record highs, the harvest numbers already are leading to tightening budgets and dwindling profits. The bottom line is that it is no exaggeration to say that these rules could put many lobstermen out of business. The effect on fishing families, and even on entire fishing communities, could be devastating. Furthermore, these rules bring additional safety concerns to the lobster industry. Many offshore areas in Maine have extremely rocky sea floors. Sinking rope vastly increases the likelihood that the line will chaff and snag, wearing the rope to the point that it can suddenly snap, or pulling the boat's rail towards the waterline where it can more easily be swamped and capsized by a large wave. Passage of this bill would be a step toward alleviating the economic and safety impacts of these rules by opening fishermen's individually held Capital Construction Funds, or CCF's, to purchases of fishing gear required to meet conservation measures required within a fishery or for purchase of equipment to increase the safety of life at sea. Currently, fishermen can deposit a portion of their pre-tax income into a CCF, and that money can then be withdrawn for purchase or reconstruction of fishing boats. Expanding the qualified withdrawals from these accounts would reduce the safety and economic impacts of these and other fishing regulations. Furthermore, this bill would provide an additional outlet for the $221 million currently held in CCF's nationwide, limiting the expansion of fishing capacity and enhancing conservation efforts by reducing incentives to buy or upgrade existing vessels. Our fisheries are the only remaining commercial wild capture industries in the Nation; fishermen are the last commercial hunters. As such, they must strike a unique balance between plying their trade and protecting the resource and the environment that supports it. The Nation's managers thus strive to balance the two parallel goals of sustaining our fish stocks and the viability of our fishing industries. The bill I introduce today will help achieve that balance by making fishing gear required for conservation or safety purposes more affordable for America's hard-working fishermen. I want to thank my colleagues, Senators Reed, Kerry, Lieberman, Whitehouse, Collins, and Kennedy for co-sponsoring this legislation. Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Ms. SNOWE

Ms. SNOWE. Madam President, as tax time is once again upon us, I recognize the contributions that small businesses have made, and continue to make, toward ensuring that our Nation's financial sector operates in a fair and effective manner. In particular, I must highlight a Maine business that has excelled in taking care of both its customers and employees. Berry, Fowles & Co., a small, full-service accounting firm located in Falmouth, recently earned the prestigious distinction of being named the 2007 Small Business Best Place to Work in Maine. The ``Best Places to Work in Maine'' program is sponsored by the Society for Human Resource Management Maine State Council, in partnership with several other entities, including The Employment Times and the Maine State Chamber of Commerce. Awards are issued in categories of large, medium, and small businesses operating in Maine, and determinations are based on employer benefits and policies, as well as employee responses to satisfaction surveys. Berry, Fowles & Co. is clearly deserving of this acknowledgement of its remarkable steps to maintain its employees' well-being. Doing business under various names since 1915, Berry, Fowles & Co. has consistently impressed its clientele by adhering to a strong set of core values, including a philosophy of empowerment and community involvement. Offering an array of services, including auditing, accounting, and tax preparation, Berry, Fowles & Co. serves cities and towns, businesses, individuals, local governments, and nonprofits across Maine. The company offers free consultations for its services, from personal financial planning to small business accounting. The company's Web site is an invaluable source for both the client and the public. Replete with a plethora of financial guides on investment, tax, and business strategies, the Web site provides readers with clear and comprehensive information. Additionally, the site contains links to a number of calculators that compute everything from college and retirement savings to the monthly payment of an auto loan. Combined with an online newsletter proposing perceptive counsel in a number of areas, Berry, Fowles & Co.'s Web site is a goldmine for the financially curious. While the company's services are wide-ranging, what positions Berry, Fowles & Co. so well in today's fast-paced world is the time it takes to appreciate and celebrate the work and welfare of its 16 dedicated employees. Berry, Fowles & Co. provides its workers with a wide range of benefits, including health and life insurance, cutting-edge technology, and a retirement pension plan. And while all of us may cringe at the thought of April 15, the employees at Berry, Fowles & Co. know firsthand the stress that comes with a tax filing deadline. That is why the company has designed a tax-season wellness program for its employees, which includes enjoyable games and giveaways, healthy snacks, Saturday lunches, and even massages! To me, that certainly adds up to a great place to work! Over the past century, Berry, Fowles & Co. and its predecessors have made a name for themselves by helping others succeed financially. Now, the company is attracting just recognition because of its sound efforts to support its employees. Berry, Fowles & Co. lays claim to a distinctly successful business model that presents all small businesses a magnanimous example upon which to draw. I congratulate the team at Berry, Fowles & Co. and wish them well at tax time and beyond.

Ms. SNOWE

Ms. SNOWE. Mr. President, I am not only deeply concerned that increasing foreclosures threaten the dream of home ownership, but it is also critical to understand that the housing crisis that the Senate is currently grappling with affects every corner of this country, including both small and large States. Therefore, I have introduced an amendment that would ensure that States with low populations receive their fair share of the increase in mortgage revenue bond allocations provided for within the Dodd-Shelby substitute amendment. Under current law, there is a small State floor that sets a minimum level of allocations of mortgage revenue bonds that any one State will receive. These bonds provide State housing finance agencies, like the Maine Housing Authority, that provided $134.4 million of loans to first-time homebuyers in 2006, a financing source for low-cost loans to first-time homebuyers. It is imperative that we understand the magnitude of mortgage difficulties facing our Nation. By 2009, more than a trillion dollars of mortgages originated during the subprime lending boom will reset to higher interest rates. Currently, according to the Mortgage Bankers Association, 43 percent of subprime ARMs are already in foreclosure. This exceptionally high number is expected to skyrocket over the next year once the next wave of ARM loans reset and borrowers' mortgage payments increase by 30 to 50 percent. In December, the Center for Responsible Lending predicted that 2.2 million families with subprime loans will lose their homes to foreclosure. High foreclosure rates harm communities, create blighted areas, and stunt local and national economic potential. Consequently, it is in the best interest of all of the parties involved in the subprime crisis that Congress act to preserve home ownership, and minimize foreclosures. Appropriately, the housing stimulus legislation currently before the Senate extends for 2008 the availability of these low-cost mortgages to refinancings in addition to first-time homebuyers. This proposal, based from legislation, S. 2517, introduced by Senator Smith, and of which, I have joined as a cosponsor, will help provide a low-cost refinancing alternative to those struggling to meet their payment obligations as their subprime loans begin to reset. It only makes sense to offer such an alternative to foreclosures. Additionally, the proposal increases the authorization level of the tax-exempt mortgage revenue bonds by $10 billion for 2008. But, however, the proposal failed to apply the floor provided for under the current authorization levels to the increase for this year. My amendment addresses this inequity by providing an additional $930 million of authorization that ensures that more populous States will receive no less than what they are receiving under the Dodd-Shelby compromise while at the same time increases the allocation for smaller States to levels that they should receive if the floor were applied to the $10 billion authorization increase. So no State will be worse off by my amendment while making sure that smaller States are treated fairly. According to the Mortgage Bankers Association, Maine, with a population of only 1.3 million, has a foreclosure rate of 2.4 percent while the national average is 2 percent. As you can see, Maine's foreclosure rate is well above the national average and goes to show that homeowners are struggling in small States as well as large States, and my amendment simply addresses the current housing crisis in a way that is fair to all States, both large and small. Mr. President, I am committed to this issue, and urge my colleagues to join me in supporting this critical amendment that is a matter of equity and fairness.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today to honor and recognize the sixtieth wedding anniversary of Antonio and Rose Ann Mangino of Portland, ME on April 4, 2008. Originally born in Lewiston, ME, Antonio, Tony, graduated from Portland High School in 1942. He was the son of Camillo and Antoinette Mangino, who owned a small grocery store in Portland. He had two brothers and three sisters. From 1943-1945, Tony served in the United States Army in the Third Armored Division, where he was one of the brave men who landed on the beaches of Normandy, 13 days after D-Day. Tony went on to fight the Nazi army in Normandy, France and in Germany. And he is one of the proud members of the ``greatest generation'' who can say they fought in the Battle of the Bulge. Having served his Nation courageously, placing his own life on the line, Tony returned home to Maine where he met Rose Ann Atripaldi, a 1947 graduate of Portland High School and the daughter of Vincent and Marie and one of five sisters and three brothers. In 1948 Tony proposed to Rose, and they got married at St. Peter's Catholic Church in Portland. Preferring not to return to the family grocery business, Tony worked for the United States Postal Service as a letter carrier, and he was actively involved in his union and worked at the Postal Service until he retired. At the same time, Tony enjoyed selling real estate, and worked as a part-time broker with Deering Realty in Portland, helping to sell property in areas of North Deering in Portland. Although Rose Ann was a full-time mother, raising two daughters--Judy Fox of Portland, ME and Camilla McCannell of Gray, ME--she remained civically involved by volunteering for the Maine Democratic Party, one of the highlights of which was riding in a motorcade when President John F. Kennedy visited Portland, ME. In addition, Rose Ann volunteered at the St. Vincent De Paul soup kitchen and was known for her weekly trips to Brunswick, ME to make her famous meatball recipe for Vincenzo's, a restaurant owned by her brother Andy. With a marriage that is an enduring inspiration to us all and a standing testament to their mutual devotion and love, Tony and Rose Mangino today are the proud grandparents of three grandchildren, Christopher McCannell of Washington, DC, Michael Fox of Denver, CO, and Jennifer Fox, also of Denver. They are also blessed with two great- grandchildren, Zack and Coby Fox, sons of Michael and his wife Eileen Fox. I couldn't be more pleased to join with the McCannell and Fox families in wishing Tony and Rose Mangino a happy diamond anniversary.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today to join with my colleagues Senators Durbin, Coleman, and Lincoln, to introduce the landmark Small Business Health Options Program Act of 2008 or the SHOP Act because after more than 10 years of discussion in Congress of this No. 1 priority for America's small businesses, this bill should finally be the vehicle that brings us to the finish line in passing legislation that's critical not only to our small businesses but also to millions of America's uninsured. This compromise proposal represents the culmination of 15 months of coming together, of reaching across the partisan divide, to fashion a workable solution to pass this year. So I want to thank Assistant Majority Leader Durbin for his steadfast and stalwart leadership on this issue--he has been a true champion in this cause--and Senator Lincoln, my esteemed colleague on the Senate Finance Committee--she and I had pledged to work together on small business health insurance at the start of this Congress--for her remarkable dedication to making this moment possible. I also thank Senator Coleman, who recently held a Small Business Committee field hearing on health insurance reform in St. Paul, Minnesota, for joining us and for his staunch support of our Nation's small businesses. As former chair and now ranking member of the Senate Small Business Committee, if there is one concern I have heard time and again--from small businesses in Maine and across the country--it is the exorbitant cost to small businesses of providing health insurance to their employees. Throughout America, health insurance premiums have increased by a staggering 78 percent since 2001--far outpacing inflation and wage gains. In Maine, annual premiums in the small group market now average an astronomical $4,868 for individual coverage and $14,605 for a family plan. Just recently a group of Maine small businesses told me that, incredibly, the most ``affordable'' insurance policies available to them included a $636 monthly premium with a $2,500 annual deductible This is just simply unacceptable. And the reality of these unreal increases is that it perpetuates a vicious cycle of spiraling costs and declining access--as fewer and fewer small businesses can afford to offer health insurance to their employees. Today, only 45 percent of our smallest businesses are able to provide this workplace benefit--a 13-percent drop from 2002. No wonder that nearly 9 out of 10 to firms told the National Association of Manufacturers last year that the cost of health insurance is one of their top-three concerns--even above Government regulations and foreign competition. And when you couple all this with the fact there are already around 47 million uninsured in America, shouldn't we be helping to add to the rolls of the insured, rather than the uninsured? What exactly is there not to get when the status quo absolutely makes no sense? That is why in the 108th and 109th Congresses, when I was chair of the Small Business Committee, I championed a Small Business Health Insurance Plan bill the full Senate considered back in May 2006--thanks largely to the stewardship of Senator Enzi--and we came up just a handful of votes short. At the same time, Senators Durbin and Lincoln advocated for a different approach, the Small Employer Health Benefits Program. Yet, regrettably, Congress has failed to muster the bipartisan support to pass either of these measures--despite overwhelming public support, on both sides of the aisle, to pass something. Well, the clock has been ticking for far too long for America's small businesses--and with this bill, we believe their hour may have finally arrived because with the SHOP Act, we blend the best of the previous approaches and address the major concerns critics have expressed in a package that both the National Federation of Independent Businesses, the National Association of Realtors, and the Service Employees International Union agree on--and that is what I call a diverse base of support that speaks volumes for this bill's chances for success. In short, we make health insurance more affordable and accessible by encouraging development of State-based purchasing pools backstopped by a voluntary, nationwide small business risk pool. The SHOP Act maintains the basic premise of allowing small businesses and the self- employed to pool together, across State lines--just as larger employers are able to do--to secure quality coverage that is more affordable, thanks to a reduction in administrative costs, which today account for an astonishing 25 percent of small business premiums--compared to just 10 percent for large employers. So the creation of these purchasing pools will increase competition among insurers and provide more coverage choices for small businesses. And that is all the more critical as small group insurance markets-- like those in Maine--currently have no real competition. In fact, the largest insurers now control 43 percent of the small group markets, and in Maine, a sum total of 4 large insurers now control 98 percent of the small group market. This cannot be allowed to continue because no competition means higher costs. Higher costs mean no health insurance. And we need more insured in America, not fewer. Moreover, under the SHOP Act, business and trade associations would serve as health plan ``navigators,'' helping employers and employees alike with enrollment in health insurance plans and in responding to questions and distributing information about SHOP. And to assist small employers who offer health insurance, we provide a targeted tax credit of up to $1,000 for each covered employee, and $2,000 for family coverage--with a bonus credit for employers who contribute more than 60 percent of the premium--encouraging our Nation's smallest businesses to offer health insurance for their employees as a workplace benefit. But perhaps most significantly, what this bill does that others have not is it resolves the persistent policy concerns that have thwarted previous attempts to pass small business health insurance legislation in the Senate. As we know, some have voiced concern that small business health insurance plans could offer stripped-down, ``bare-bones'' coverage plans that would leave out such key benefits as cancer screenings, diabetic supplies, mammograms, and maternity care. Well, we agree and we address this concern by requiring SHOP's nationwide plans to meet or exceed a minimum benefit ``floor'' to be developed by the nonpartisan and highly respected National Academies of Science's Institute of Medicine--based on clinically appropriate and affordable practices in today's small group market. So this issue of coverage should no longer be a legitimate roadblock. Others have said that small business health insurance legislation could drive up premium costs for all those who don't participate in these new small business plans because these plans would be playing by different and more advantageous rules. They have been concerned that, as a result, companies would set up plans that would attract a healthier pool of individuals--who would pay lower premiums--while potentially relegating the less healthy to existing group or individual plans that would then have to raise premiums. So we worked closely with the nonpartisan National Association of Insurance Commissioners to create strong incentives for states to ensure a level playing field for all plans--both inside and outside of SHOP. We say, if you want the small businesses in your State to be eligible for that targeted tax credit of up to $1,000 for individual employees and $2,000 for family coverage that's included in our bill, you must have rules prohibiting ``health status'' as a factor for varying insurance and reducing excessive variations for other factors. As an additional benefit to the self-employed, States must also ensure that those individuals have the option to purchase a small group plan-- rather than being left with only the far more expensive option of the individual insurance market. Still others have expressed concerns about a potential role of the Federal Government in insurance regulation, which has traditionally been left to the States. So under the SHOP Act, we ensure that State insurance commissioners--not the Federal Government--would handle all consumer complaints about health plans and would be responsible for ensuring that all SHOP health plans operating in their State meet State requirements for financial solvency and for grievance claim and appeals procedures. In conclusion, for all of these reasons I firmly believe they Small Business Health Options Program Act represents our best hope for achieving passage this Congress. By addressing the major concerns about previous legislation, frankly there is now no longer any good reason we cannot make it happen. I look forward to working with Chairman Baucus and Ranking Member Grassley on the Finance Committee to consider this bipartisan measure, so it can be passed by the full Senate.

Ms. SNOWE

Ms. SNOWE. Mr. President, today I recognize an extraordinary business from my home State of Maine, Johnny's Selected Seeds. A mail- order seed producer and seller from Kennebec County, Johnny's Selected Seeds recently garnered the U.S. Small Business Administration's Entrepreneurial Success Award. But what is most gratifying about the recognition for Johnny's is that the company won the award on the district, regional, and national levels. Chairman Rob Johnston, Jr. founded Johnny's Selected Seeds in 1973 at the age of 22. With only $500 in his savings account, but with a deep appreciation for and knowledge of agriculture, Mr. Johnston began his venture in the attic of a farmhouse before finally settling in Albion, ME, in 1975. As Johnny's grew, so did demand for its product, largely due to the firm's easy-to-use and straightforward catalog with detailed descriptions of available seeds and handy growing information, as well as the company's production of various vintage heirloom seeds. Johnny's moved its headquarters to Winslow, ME in 2002 and later opened a catalog store in the same town. The employee-owned company continues to maintain its property in Albion as a working farm and research facility while offering seed enthusiasts and curious visitors self-guided farm tours throughout the summer months. Johnny's employees take seriously their pledge to provide their customers with tools, seeds, plants, and supplies of the utmost quality. The company's minimum germination standards are well above those required by law, and Johnny's goes to great lengths to ensure that commercial varieties are free of certain viruses and diseases. Johnny's also offers various organic seeds, and since 1999, has adhered to the principles of the Safe Seed Pledge, signaling that the company does not ``. . . knowingly buy or sell genetically engineered seeds or plants.'' Additionally, in an effort to stay on the cutting edge, Johnny's takes great pride in the research it does to maintain its innovative reputation. In particular, the firm focuses on developing new seed varieties, as well as leading the way in quality control. Johnny's Selected Seeds has truly made a name for itself through its outstanding achievements and reliable service. But the company has also maintained a loyal customer base because of the basics. Johnny's vends a wide array of seeds, tools, and supplies to both home gardeners and small commercial growers. Offering a vast selection of vegetable seeds, from artichokes to watermelons, Johnny's also sells fruit seeds, herb seeds, and an impressive collection of flower seeds. Continually updating its stock, Johnny's adds new seeds to its list each year, and 2008 is no exception. Some of the dozens of new products available range from colorful spring flowers to different corns, cantaloupes, and greens. And for convenience, home growers can order a small packet of 25 seeds, and larger growers can often request up to 10,000 or 25,000 seeds, depending on the product. A truly entrepreneurial business, Johnny's Selected Seeds constantly seeks new ways to grow, improve, and impress. It has, without a doubt, earned its latest accolades handily. To succeed as superlatively as Johnny's does speaks volumes about the resolve and passion of Mr. Johnston, but it is also a testament to the hard work and dedication of the company's over 80 full-time and 50 seasonal employees. I congratulate Johnny's Selected Seeds for earning the U.S. Small Business Administration's Entrepreneurial Success Award at all levels and for the example it sets for small businesses everywhere.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today to join with my colleagues Senators Durbin, Coleman, and Lincoln, to introduce the landmark Small Business Health Options Program Act of 2008 or the SHOP Act because after more than 10 years of discussion in Congress of this No. 1 priority for America's small businesses, this bill should finally be the vehicle that brings us to the finish line in passing legislation that's critical not only to our small businesses but also to millions of America's uninsured. This compromise proposal represents the culmination of 15 months of coming together, of reaching across the partisan divide, to fashion a workable solution to pass this year. So I want to thank Assistant Majority Leader Durbin for his steadfast and stalwart leadership on this issue--he has been a true champion in this cause--and Senator Lincoln, my esteemed colleague on the Senate Finance Committee--she and I had pledged to work together on small business health insurance at the start of this Congress--for her remarkable dedication to making this moment possible. I also thank Senator Coleman, who recently held a Small Business Committee field hearing on health insurance reform in St. Paul, Minnesota, for joining us and for his staunch support of our Nation's small businesses. As former chair and now ranking member of the Senate Small Business Committee, if there is one concern I have heard time and again--from small businesses in Maine and across the country--it is the exorbitant cost to small businesses of providing health insurance to their employees. Throughout America, health insurance premiums have increased by a staggering 78 percent since 2001--far outpacing inflation and wage gains. In Maine, annual premiums in the small group market now average an astronomical $4,868 for individual coverage and $14,605 for a family plan. Just recently a group of Maine small businesses told me that, incredibly, the most ``affordable'' insurance policies available to them included a $636 monthly premium with a $2,500 annual deductible This is just simply unacceptable. And the reality of these unreal increases is that it perpetuates a vicious cycle of spiraling costs and declining access--as fewer and fewer small businesses can afford to offer health insurance to their employees. Today, only 45 percent of our smallest businesses are able to provide this workplace benefit--a 13-percent drop from 2002. No wonder that nearly 9 out of 10 to firms told the National Association of Manufacturers last year that the cost of health insurance is one of their top-three concerns--even above Government regulations and foreign competition. And when you couple all this with the fact there are already around 47 million uninsured in America, shouldn't we be helping to add to the rolls of the insured, rather than the uninsured? What exactly is there not to get when the status quo absolutely makes no sense? That is why in the 108th and 109th Congresses, when I was chair of the Small Business Committee, I championed a Small Business Health Insurance Plan bill the full Senate considered back in May 2006--thanks largely to the stewardship of Senator Enzi--and we came up just a handful of votes short. At the same time, Senators Durbin and Lincoln advocated for a different approach, the Small Employer Health Benefits Program. Yet, regrettably, Congress has failed to muster the bipartisan support to pass either of these measures--despite overwhelming public support, on both sides of the aisle, to pass something. Well, the clock has been ticking for far too long for America's small businesses--and with this bill, we believe their hour may have finally arrived because with the SHOP Act, we blend the best of the previous approaches and address the major concerns critics have expressed in a package that both the National Federation of Independent Businesses, the National Association of Realtors, and the Service Employees International Union agree on--and that is what I call a diverse base of support that speaks volumes for this bill's chances for success. In short, we make health insurance more affordable and accessible by encouraging development of State-based purchasing pools backstopped by a voluntary, nationwide small business risk pool. The SHOP Act maintains the basic premise of allowing small businesses and the self- employed to pool together, across State lines--just as larger employers are able to do--to secure quality coverage that is more affordable, thanks to a reduction in administrative costs, which today account for an astonishing 25 percent of small business premiums--compared to just 10 percent for large employers. So the creation of these purchasing pools will increase competition among insurers and provide more coverage choices for small businesses. And that is all the more critical as small group insurance markets-- like those in Maine--currently have no real competition. In fact, the largest insurers now control 43 percent of the small group markets, and in Maine, a sum total of 4 large insurers now control 98 percent of the small group market. This cannot be allowed to continue because no competition means higher costs. Higher costs mean no health insurance. And we need more insured in America, not fewer. Moreover, under the SHOP Act, business and trade associations would serve as health plan ``navigators,'' helping employers and employees alike with enrollment in health insurance plans and in responding to questions and distributing information about SHOP. And to assist small employers who offer health insurance, we provide a targeted tax credit of up to $1,000 for each covered employee, and $2,000 for family coverage--with a bonus credit for employers who contribute more than 60 percent of the premium--encouraging our Nation's smallest businesses to offer health insurance for their employees as a workplace benefit. But perhaps most significantly, what this bill does that others have not is it resolves the persistent policy concerns that have thwarted previous attempts to pass small business health insurance legislation in the Senate. As we know, some have voiced concern that small business health insurance plans could offer stripped-down, ``bare-bones'' coverage plans that would leave out such key benefits as cancer screenings, diabetic supplies, mammograms, and maternity care. Well, we agree and we address this concern by requiring SHOP's nationwide plans to meet or exceed a minimum benefit ``floor'' to be developed by the nonpartisan and highly respected National Academies of Science's Institute of Medicine--based on clinically appropriate and affordable practices in today's small group market. So this issue of coverage should no longer be a legitimate roadblock. Others have said that small business health insurance legislation could drive up premium costs for all those who don't participate in these new small business plans because these plans would be playing by different and more advantageous rules. They have been concerned that, as a result, companies would set up plans that would attract a healthier pool of individuals--who would pay lower premiums--while potentially relegating the less healthy to existing group or individual plans that would then have to raise premiums. So we worked closely with the nonpartisan National Association of Insurance Commissioners to create strong incentives for states to ensure a level playing field for all plans--both inside and outside of SHOP. We say, if you want the small businesses in your State to be eligible for that targeted tax credit of up to $1,000 for individual employees and $2,000 for family coverage that's included in our bill, you must have rules prohibiting ``health status'' as a factor for varying insurance and reducing excessive variations for other factors. As an additional benefit to the self-employed, States must also ensure that those individuals have the option to purchase a small group plan-- rather than being left with only the far more expensive option of the individual insurance market. Still others have expressed concerns about a potential role of the Federal Government in insurance regulation, which has traditionally been left to the States. So under the SHOP Act, we ensure that State insurance commissioners--not the Federal Government--would handle all consumer complaints about health plans and would be responsible for ensuring that all SHOP health plans operating in their State meet State requirements for financial solvency and for grievance claim and appeals procedures. In conclusion, for all of these reasons I firmly believe they Small Business Health Options Program Act represents our best hope for achieving passage this Congress. By addressing the major concerns about previous legislation, frankly there is now no longer any good reason we cannot make it happen. I look forward to working with Chairman Baucus and Ranking Member Grassley on the Finance Committee to consider this bipartisan measure, so it can be passed by the full Senate.

Ms. SNOWE

Ms. SNOWE. Mr. President, today Congress is confronted with making difficult choices in developing the budget for fiscal year 2009. Undoubtedly, there will be issues that will divide us as we consider this budget resolution, but I do believe that surely we can all come together on other issues. One such issue that I hope we can find mutual agreement is the need to expand the availability of the child tax credit to more working families. This is an issue that I have long worked with my good friend, Senator Lincoln, the senior Senator from Arkansas. Specifically, I have joined Senator Lincoln on an amendment that would create a reserve fund to lower the income threshold for the refundable child tax credit to $10,000 and de-index it from inflation. This amendment is modeled after legislation that I introduced last year with Senator Lincoln, the Working Family Child Assistance Act. In 2001, Congress doubled the child tax credit from $500 to $1000, and I along with the Senator from Arkansas pushed to make the child tax credit refundable for workers making around the minimum wage as well. As enacted, a portion of a taxpayer's child tax credit would be refundable beginning with up to 15 percent of earnings above the indexed $10,000 threshold. The consequences of inaction are serious for low-income Americans living paycheck-to-paycheck. It means that tens of thousands of low- income families will be completely ineligible for a credit they should receive. This year, because the income threshold is indexed, only taxpayers earning over $12,050 are eligible to receive the refundable portion of the child tax credit. Low-income families earning less than $12,050 are shut out of the child tax credit completely. Today I am introducing legislation, the Working Family Child Assistance Act, with Senators Lincoln, Obama, and Rockefeller that will enable more hardworking, low-income families to receive the refundable child credit this year. My legislation returns the amount of income a family must earn to qualify for the child tax credit to $10,000. Moreover, my bill would ``de-index'' the $10,000 threshold for inflation, so families failing to get a raise each year would not lose benefits. The staff of the Joint Committee on Taxation has estimated that this amendment will allow an additional 600,000 families to benefit from the refundable child tax credit. The Maine Department of Revenue estimates that 16,700 families in Maine alone would benefit from our proposal. Two thousand of these Maine families would otherwise be completely locked out of the refundable child tax credit under current law. I am committed to this issue, thank the Senator from Arkansas, and urge my colleagues to join me in supporting this critical amendment that will make the child tax credit available to 2 million children who would be otherwise ineligible. Most notably, this amendment is identical to the refundable child credit proposal the Senate passed in May 2001 as part of its version of that year's tax bill. Amendment No. 4181

Ms. SNOWE. Mr. President, I rise to speak on an amendment, which passed today, that I introduced with my colleagues Senators Pryor and Bingaman. The amendment will create a deficit-neutral reserve fund for science parks. This deficit-neutral reserve fund will help highlight the need for funding so this critical industry can continue to expand. Science parks are concentrated high-tech, science, and research-related businesses, and are an important tool in strengthening America's global competitiveness. Through the development of new innovative technologies, competing and complementary companies working within close quarters are able to build on each other's ideas when entering the national and global marketplace. Unlike well known industrial parks, science parks primarily focus on innovation and product advancement. These parks are a vital part of the Nation's economy, creating 2.57 jobs for each core job in a science park. As a strong supporter of expanding America's science parks, I am the lead cosponsor of S. 1371, legislation which provides grants and loan guarantees to promote the development and construction of science, research, and technology parks. I adamantly encourage increased investment in new and existing science, research, and technology parks throughout the U.S. This amendment highlights that science parks need more funding to help drive innovation and regional entrepreneurship by enabling existing science parks to make needed renovations while also encouraging rural and urban States to undertake studies on developing their own successful regional science clusters. Congress recently passed, and the President signed into law, the ``America Competes Act,'' legislation authorizing $43 billion of new funding over the next three fiscal years which will boost Federal investment in math and science education programs. Building on the efforts of the America Competes Act by increasing research funding and education for our innovative workforce is vital, and this amendment will help ensure that this workforce is provided with a place in which to operate. Residency in science parks provides businesses numerous advantages such as access to a range of management, marketing, and financial services. At its heart, a science park provides an organized link to local research centers or universities, providing resident companies with constant access to the expertise, knowledge, and technology they need to prosper. These innovation centers are specifically geared towards the needs of new and small companies, providing a controlled environment for the incubation of firms and the achievement of high growth. In my home State of Maine, we simply do not have the population density in any given area to support traditional science parks. However, Maine has been a national leader in providing business ``incubation'' services. Incubators, like science parks, are critical to the success of new companies. To help start-up entrepreneurial companies in Maine, centers around the State provide business support tailored to companies in their region. The benefit of business incubators in Maine has been nothing short of monumental, with 87 percent of all businesses that graduate from incubators remaining in business. The seven technology centers located throughout Maine have played a pivotal role in promoting technology-led economic development by advancing their own regional competitive advantages. Under this amendment, funding can be made available for not only science parks, but business incubators may also be eligible for assistance. It is also vital to point out that the jobs science parks create reflect the needs of a high-tech, innovative, and global marketplace. Science parks have helped lead the technological revolution and have created more than 300,000 high-paying science and technology jobs, along with another 450,000 indirect jobs, for a total of 750,000 jobs in North America. Our Nation's capacity to innovate is a key reason why our economy continues to grow and remains the envy of the world. Through America's investments in science and technology, we continually change our country for the better. Ideas by innovative Americans in the private and public sectors have paid enormous dividends, improving the lives of millions throughout the world. We must continue to encourage the advancement of this vital sector if America is to compete at the forefront of innovation. I thank my colleagues for their support of this amendment, and I look forward to working with my colleagues to secure additional funding to ensure the growth and prosperity of science parks. Amendment No. 4121

Ms. SNOWE

Ms. SNOWE. Mr. President, I congratulate Thos. Moser Cabinetmakers, a family-oriented business from my home State of Maine that continues to thrive after 36 years of producing extraordinary furniture. With galleries open in nine locations, including one in South Korea and its newest in Los Angeles, Thos. Moser Cabinetmakers has truly exceeded expectations while staying true to its Maine roots. Thos. Moser Cabinetmakers' founder, Thomas Moser, began his professional career as a professor both throughout the United States as well as in Saudi Arabia. Shortly after getting married in 1957, Mr. Moser and his wife began purchasing old furniture, refurbishing it, and then reselling it to supplement their income. Realizing how passionately he enjoyed woodworking, Mr. Moser gave up teaching to pursue the legacy that has now propelled his product into a household name. Working with his sons, Mr. Moser is dedicated to maintaining a family business for years to come and credits his success to his partnership with his wife. What has always stood out about Thos. Moser is that the company adheres to a creed that stresses function over fashion, creating beautiful works for everyday living. From dining tables and stools to beds, benches, and rocking chairs, Thos. Moser's furniture belies a unique and timeless quality. The company's various collections and pieces have frequently resulted from Mr. Moser's worldwide travels and experiences. The inspiration of Danish furnituremaking provided the impetus for the curved Astral Bench while the Eastward Stool pays tribute to the famed Japanese-American woodworker George Nakashima. Mr. Moser's furniture additionally celebrates places of natural beauty in Maine, from its largest peak, Mount Katahdin, to the island-laden coastal town of Harpswell, to farm-draped New Gloucester, the placid town where Thos. Moser Cabinetmakers got its start. One of the company's most admirable aspects is its warranty. Guaranteed for life, Thos. Moser furniture is ensured to be replaced if it is ever found to be faulty. To continue constructing such superb furniture, and to stay competitive in the woodworking industry, Thos. Moser recently teamed up with the Maine Manufacturing Extension Partnership to incorporate the Lean manufacturing program into its regular business practices. This program helps workers and management alike think in an innovative, goal-oriented manner, and as a result, many employees at Thos. Moser have taken up leadership positions they never would have attempted otherwise. In all, 35 employees were trained through the program, but the benefits were far-reaching. Thos. Moser Cabinetmakers grew out of a passion for woodwork, and the current operation has sacrificed none of that early fervor. The company is a strong example of Mainers' determined entrepreneurial spirit, and it shows no signs of letting up. I congratulate Thos. Moser Cabinetmakers and its over 200 employees for their steadfast enthusiasm and committed work ethic, and wish them much continued success.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today in strong support of an amendment that my friend and colleague from Arkansas, Senator Lincoln, and I have offered to the budget resolution, which would provide an additional $50 million to the Veterans Benefits Administration, VBA, allowing our Nation to continue investing in the programs and resources necessary so that our courageous veterans may receive the benefits that they have earned in a timely and efficient manner. Every year, hundreds of thousands of America's finest look to the VBA to process their claims for disability compensation, pensions, and other entitlements due them as a result of their unselfish and steadfast service to our Nation. However, according to a VBA Workload Report from February 16, 2008, the total number of pending compensation and pension claims once again increased to 663,319, up from 626,429 this time last year and 517,574 from 2006.Additionally, the VA is currently projecting claims receipts to increase to approximately 872,000 in fiscal year 2009 and cautions that ongoing hostilities in both Iraq and Afghanistan may further burden the workload. Furthermore, although the VA attempted to reduce the average number of days that claims were pending from a high of 182 days at the end of fiscal year 2001 to 111 days at the end of fiscal year 2003, the average age of pending claims has crept back up to 132 days by the end of fiscal year 2007. Despite this unfortunate trend, we must not discount the initial steps that Congress has taken in order to alleviate many of the challenges facing our Nation's veterans within the VBA system. The first crucial step over the past year was to improve the management of the VBA, by providing welcome resources to boost the number of claims- processing staff, essential to curbing the backlog and improving the timeliness of the claims process. In fact, at this time last year, Senator Lincoln and I introduced an amendment to the fiscal year 2008 Budget resolution to address staff and resource shortages at the VBA by providing $64.5 million in order to hire an additional 600 disability claims processors and $4.1 million to hire an additional 32 processors at the Board of Veterans Appeals, BVA, to expedite the adjudication process to acceptable levels. Overall, the President's fiscal year 2009 budget request funds nearly 11,000 full-time equivalent employees working on compensation and pension claims, and represents an additional 2,600 positions, or 32 percent above fiscal year 2007. Notwithstanding the recent actions that I have outlined and the VA's expectation that productivity will expand in the long term, veterans continue to endure lengthy delays in order to receive their benefits from the VA--and this is simply unacceptable. Therefore, I believe it is vital for the VBA to maintain the resources necessary to seek and implement fundamental reforms that will help bolster recent gains in manpower in order to enhance both productivity and efficiency throughout the disability claims process. That is why Senator Lincoln and I have introduced an amendment that will provide the VBA with an additional $50 million in funding to initiate innovative pilot programs that will decrease this unprecedented backlog of disability claims. Given how integral disability payments are for veterans and their families, especially in a lagging economy, the VA has an undeniable responsibility to sustain an effective delivery system and look for solutions that honor our veterans' service. The funding provided within the Snowe-Lincoln amendment would allow the VBA to build upon recent efforts to streamline the claims process through such initiatives as amplifying staff training, improving data collection, or streamlining data transmission. As we continue to debate this year's budget resolution, I applaud the Senate Committee on the Budget and its strong commitment to veterans, by providing $48.2 billion in discretionary funding within the budget resolution for fiscal year 2009, which is equal to $3.2 billion above the President's request and $5.2 billion more from fiscal year 2008 budget levels. Certainly, this increase in veterans' health care funding is timely as Congress strives to address an ever-growing contingency of new veterans, who will transition from active duty into the VA system during the upcoming year, while an aging general veteran population continues its increased demand for acute medical and long- term-care services. It is profoundly imperative that we in Congress fulfill our obligation to America's best and bravest, whose selfless sacrifices on behalf of us and the freedoms we cherish are immeasurable. I urge my colleagues to support the Snowe-Lincoln amendment, which will help the VBA take the additional steps towards realizing our nation's pledge to give our veterans the compensation and benefits they have rightfully earned.

Ms. SNOWE

Ms. SNOWE. Mr. President, I wish to recognize the outstanding service Karen Hontz has provided to the Senate Committee on Small Business and Entrepreneurship in her capacity as a detailee from the Small Business Administration, SBA. Karen came to the Senate last June and quickly established herself as an invaluable asset from her first days on the job when the committee held a roundtable and subsequent markup on venture capital legislation. As Congress prepares to take a short recess, Karen will begin her transition back to the SBA, as well as her 20th year of distinguished service to the Federal Government. This will certainly be SBA Administrator Preston's gain and my and my staff's loss. Thank you Administrator Preston for allowing us to work with Karen over the last 9 months. As I reflect on Karen's tenure, I will always remember how she far exceeded all expectations, working long hours to provide me with clear and succinct materials about critical issues facing America's small businesses. This was particularly impressive given the volume of activity before the committee and the fact that Karen was new to the Senate. Indeed, since Karen came to Capitol Hill, the committee held seven oversight hearings on issues ranging from Government contracting, to women's business ownership and grant programs, to the SBA's budget. The committee also held two markups, sending venture capital, entrepreneurial development, and contracting legislation to the Senate floor. My staff and I could not have navigated these committee actions without Karen's sage counsel and invaluable insight gained from years of experience at the SBA. Not only was Karen extremely helpful in assisting me with committee hearings and markups, but she also played an integral role in moving legislation on the Senate floor, a rare feat for a new employee. For example, Karen, together with other members of my staff, successfully negotiated with House and Senate committee, floor, and leadership staff with respect to controversial provisions in the Military Reservist and Veteran Small Business Reauthorization and Opportunity Act of 2007, H.R. 4253, critical legislation that will expand business opportunities for veterans and help reservists keep their businesses afloat during and after deployment. Karen was instrumental in helping the Senate to clear this bill by unanimous consent in late January before President Bush signed it into law in mid-February. Karen was also pivotal in helping to include a bipartisan and bicameral small business title to the energy bill that was signed into law last December. In addition, Karen also helped the Disaster Response and Loan Improvement Act, S. 163, to pass the Senate last August. It was her political savvy and innovative thinking that helped produce a less costly bill that met both the Senate's and the administration's objectives and was able to garner the support of the entire Senate Chamber. Finally, I would also be remiss in not pointing out that there are often concerns when an executive branch employee comes to the Senate for a work assignment, as Congress and the administration sometimes approach issues from differing viewpoints. Karen carefully and gracefully fulfilled her fiduciary duties relating to confidential information received from the two branches of Government, which could not be shared between those entities. She was also able to give fair and balanced advice, explaining in an unbiased manner both sides of an issue. In addition to Karen's in-depth knowledge of the SBA, she also provided broader insight into executive branch operations, including the Federal rulemaking and administrative processes, as well as the Office of Management and Budget's role in the budget and appropriations process. Karen has truly been a vital part of my team and has provided a unique viewpoint and voice that has truly broadened this committee's grasp on the SBA and small business issues. Karen's extraordinary performance has far exceeded my expectations, and she will be greatly missed. I wish Karen and her husband Stephen all the best as she returns to the SBA.

Ms. SNOWE

Ms. SNOWE. Mr. President, I wish to recognize Kelly's Closet of Waterford, ME, a woman-owned small business that has helped reinvent a traditional product in a new and environmentally friendly way. When Kelly Wells founded Kelly's Closet in 2001, there were few options for parents looking for cost-effective, sanitary, and environmentally friendly diapers for their children. Like any good enterprising businesswoman, Ms. Wells identified this underserved market and then moved to supply the demand. At first, Ms. Wells's venture failed to attract the customers for which she had hoped and no orders arrived for 4 months. Despite these early difficulties, Ms. Wells persevered, and eventually her tenacity paid off. The orders that had started off slow rose exponentially, and her business had grown to such an extent that the most significant problem she and her two employees now face is keeping the ``shelves'' of their virtual store stocked with the company's products. Today, Kelly's Closet combines the Internet's tremendous marketing platform with good old-fashioned Maine friendliness to create a customer experience second to none. Kelly's Closet offers many different diaper and diaper liner options in a wide variety of fibers, from flannel, fleece, and organic cotton, to more unique choices like rice paper and bamboo. Ms. Wells's notably wide variety of merchandise is easy to identify with catchy names like ``Rumpsters,'' ``Knickernappies,'' and ``Tiny Tush.'' Kelly's Closet also sells additional products from other trusted and well-known companies, including accessories for strollers, diaper bags, and other children's apparel, such as swim diapers for the summer and baby boots and shoes for any time of year. In addition to a varied selection, Kelly's Closet also helps to educate parents about cloth diapers. For parents, making the right diaper choice can sometimes be a confusing process. To help these parents, Ms. Wells publishes a newsletter and has a special easy-to-use section on her Web site that is dedicated to answering parents' frequently asked questions about diaper fabrics, size, and care, as well as the history of the cloth diaper movement. These additions to her Web site ensure that consumers are well informed before they make their first purchase. Maine is a State known for its innovators and entrepreneurs, and Kelly Wells is a member of that proud group. Her perseverance, tenacity, and business acumen are a testament to what a small business can accomplish. In 8 years, Ms. Wells has helped transform the way parents purchase diapers and has expanded their possibilities to a great degree. I wish Kelly Wells and all the employees of Kelly's Closet continued success as they grow, innovate, and expand their business.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today to speak on my amendment to the Consumer Products Safety Commission, CPSC, bill that the full Senate is now debating. I applaud the steadfast efforts and leadership of Chairman Inouye, Ranking Member Stevens, and Senator Pryor in moving this critically vital bill to the Senate floor and to passage--and for including my amendment by unanimous consent as part of this bill. My amendment would perfect this bipartisan measure by ensuring that the CPSC fully considers potential small business impacts when it establishes through a rulemaking, as it is required to do under the bill, criteria for imposition of penalties. As ranking member of the Senate Committee on Small Business and Entrepreneurship, I have long worked to ensure that the Federal Government takes measures and precautions to protect the interests and viability of small businesses, while at the same time rigorously enforcing our Nation's consumer protection laws. Under the bill that we are now considering, the maximum civil penalties for violations would be increased from $8,000 to $250,000 for individual violations; and up to $20 million for aggregate violations. Within 1 year after enactment, the Commission would establish, through a Federal rulemaking, the criteria for imposition of civil penalties. Mr. President, my amendment would make clear that the Commission consider the size of a small business when establishing a penalty criteria through a rulemaking. My staff has discussed this issue with the Commission, which has raised an issue with Section 16(c)--``Civil Penalty Criteria''--of the bill. This section does not specifically reference the size of a small business as a criteria. The Commission's attorneys suggested that a minor change--adding the word ``additional''--would resolve ambiguity to ensure that the Commission considers the size of a small business--as it is required to do under section 20 of the Consumer Product Safety Act. This would help to ensure that this new penalty provision remains consistent in how the Commission factors in small business size in proportion to penalties. My amendment would also ensure that the Commission appropriately considers, during its rulemaking, ``how to mitigate undue adverse economic impacts on small businesses.'' I firmly believe that requiring the Commission to consider undue adverse economic impacts when establishing the new penalty criteria, would help to ensure that small businesses can remain viable while at the same time increasing penalties for violations under the act--a win-win. In closing, my amendment would help to ensure the continued viability and competitiveness of our Nation's small businesses--while protecting the strong regulatory enforcement included in this bill. Mr. President, I request unanimous consent that the text of my remarks be included in the Congressional Record. Thank you, Mr. President. I yield the floor.

Ms. SNOWE

Ms. SNOWE. Mr. President, today I recognize a small business from my home State of Maine that has revolutionized the health snack food market. Living Nutz, a company that sells all-natural, organic nuts and seeds in a variety of delicious flavors, provides its customers with delicious treats that are exceedingly nutritious without sacrificing an ounce of taste. Seth Leaf Pruzansky and Davy Pruzansky, brothers who founded Living Nutz in 2002 in the basement of their house in Bowdoinham, ME, represent the hard work and passionate drive that go into small businesses in Maine and across the Nation. It takes Living Nutz's core group of seven employees about a week to clean, season, and prepare nuts for distribution to retail stores throughout the United States and Canada, as well as for sales through Living Nutz's website. From almonds to walnuts and raisins to pumpkin seeds, Living Nutz offers 19 varieties, including sweet ones like Banana Bread and Cina-Pecan-Bun, and spicy ones like Lemon Tahini Twist and Spicy Onion Garlic. The company is also certified by the Maine Organic Farmers and Gardeners Association, ensuring both the quality and authenticity of its snacks. Living Nutz employs a time-intensive process to produce several thousand pounds of nuts each week. First, the nuts are soaked overnight in water. Then, the next morning, employees place the nuts in large bowls and add all-natural flavoring. The nuts are finally placed into dehydrators for 5 days before being packaged and shipped. The Pruzansky brothers believe that the soaking method delivers a more desirous product, and one that is easier to digest. They say that these ``living nuts'' are significantly richer in enzymes and nutrients than nuts that are cooked. In the end, this lengthy procedure yields healthy and taste-filled nuts, as well as repeat customers and devoted fans of the company. Living Nutz recently played a cameo role in the 2008 Screen Actors Guild awards, as the Guild selected the company to contribute 1,500 bags of its mixed nuts for the actors' and attendees' gift bags. What makes this occasion so unique is that the Screen Actors Guild actually approached the Pruzansky brothers with the opportunity, instead of vice versa. As a result of this exposure, the brothers hope to take on new customers and even celebrity clientele, and are seeking to expand by adding new facilities, equipment, and employees. The Pruzansky brothers and Living Nutz are symbols of Maine's great small business achievements. They have proven beyond a doubt that healthy food can taste great. The brothers' unique spin on healthy food, combined with their great sense of business skills, has made Living Nutz such a successful company. Therefore, I congratulate the company on its success from Maine to Hollywood, and wish everyone at Living Nutz the best for years to come.

Ms. SNOWE

Ms. SNOWE. Mr. President, I rise today to introduce legislation that focuses on eliminating online fraud and identity theft that is facilitated through the use of phishing schemes, as well as deceptive and misleading domain names. Phishing is a method of online identity theft that takes the form of fraudulent e-mails or fake Web sites in order to deceive the recipient into giving personal or financial account information. In addition to victimizing unsuspecting consumers, phishing scams maliciously exploit the trust that legitimate businesses have worked so hard to establish with consumers. The Anti-Phishing Consumer Protection Act of 2008 would prohibit the practice of phishing--the deceptive solicitation of a consumer's personal information through the use of e-mails, instant messages, and misleading Web sites that trick recipients into divulging their information to identity thieves. The legislation would also prohibit related abuses, such as the practice of using fraudulent or misleading domain names, by defining them as deceptive practices under the FTC Act. Additionally, the legislation seeks to solidify the integrity of domain name registration, a longtime goal for the Federal Trade Commission, by making it illegal for a domain name registrant to provide false or misleading identifying contact information in a WHOIS database when registering a domain name. Too often law enforcement officials have been hindered in their pursuit of phishers and other online scams because the person responsible is hiding behind the anonymity of false registration information--this legislation would put an end to that practice by requiring accurate registration information about those that own Web sites and domain names that are used to harm consumers. The reason it is imperative to address this through legislation is because online fraud and, more specifically, phishing scams are running rampant. A December 2007 New York Times article reported that more than 3.5 million Americans lost money to phishing schemes and online identity theft over a 12-month period ending in August 2007--this is a 57-percent increase over the previous year. The total amount lost by the victims, $3.2 billion dollars. The Anti-Phishing Working Group found, in November 2007, that 178 corporate identities and brands were hijacked and used for phishing scams, which is the highest number ever reported. All of these figures are very disconcerting and will only increase if we don't put greater effort on curtailing this online fraud. Phishing and other forms of identity theft continue to have a detrimental effect on e-commerce by eroding consumers' confidence in online transactions. According to a 2007 Javelin Strategy & Research study, 80 percent of Internet users are concerned about being victims of online identity theft. What is more, a 2006 Zogby Interactive poll found that 78 percent of small business owners polled stated that a less reliable Internet would damage their business. While consumer confidence is critical in any commerce activity, it is paramount for online transactions. Phishing and other online fraud activities directly undermine that vital trust. Phishing schemes aren't just isolated to individuals and e-commerce. Companies, organizations, and government agencies are also targets. A form of phishing known as spear phishing targets these entities to gain unauthorized access to the organization's computer system in order to steal financial information, trade secrets, or even top-secret military information. The security risks that phishing poses in the world of cyberterrorism is very significant. But one doesn't have to look to some distant country to find the origin of traditional phishing schemes. The United States only until recently was consistently the top country that hosted the most phishing Web sites. While China now holds that claim, the United States is a very close second--hosting approximately 24 percent of phishing Web sites. So we can definitively do more within our borders to make the Internet notably safer. Since President Bush signed the stimulus package into law earlier this month, millions of Americans will be expecting to receive tax rebate checks this May. But before those checks arrive, taxpayers should also expect to be targets of numerous phishing schemes between now and then. Many of these scams involve official-looking e-mail messages that try to trick the recipient into entering their personal information at a fake IRS Web site by stating in the e-mail that they are eligible for a refund check. This is not the first time the IRS identity has been misused for phishing scams, and it will continue if we don't do more to go after phishers. And this is what the Anti-Phishing Consumer Protection Act of 2008 does. It looks to make the Internet safer and more reliable. It also facilitates the restoration of trust and consumer confidence that has been eroded by the prevalence of deceptive e-mails and Web sites, which has, in part, mired the Internet from achieving its full potential. That is why I sincerely hope that my colleagues join Senators Bill Nelson, Stevens, and me in supporting the critical legislation.