Obama urged to elevate small business agency to Cabinet
Maine senator says it is vital for Small Business Administration officials to be involved in discussions about stabilizing the economy.
Sen. Olympia Snowe, R-Maine, ranking member of the Senate Small Business Committee, sent a letter Monday to President-elect Obama asking him to elevate the Small Business Administration to Cabinet-level status, as it was under former President Bill Clinton.
"During these challenging economic times, it is imperative that the SBA, the federal agency supporting the single-largest creator of jobs in this country, is part of every conversation President-elect Obama has about restoring confidence in the economy," Snowe wrote.
Snowe met with key members of Obama's advisory team about the issue last week, she said in a statement.
She noted that the Bush administration slashed SBA's budget by 27 percent in eight years, the largest funding cut made in any federal agency.