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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release August 17, 1999

STATEMENT BY THE PRESIDENT

Today I am pleased to sign into law H.R. 1568, the "Veterans Entrepreneurship and Small Business Development Act of 1999." This bill will provide assistance to veterans who are entrepreneurs and especially to service-disabled veteran entrepreneurs, men and women who have sacrificed so much in the service of our country. By helping these American heroes to establish, maintain, and grow their own small businesses, we help to sustain our strong economy and express our gratitude for their service to America.

This bill also includes several measures designed to cushion the impact on small businesses when their owners or essential employees who are reservists are ordered to active duty during military conflicts. By providing loans, loan payment deferrals, and technical and managerial assistance for these citizen soldiers, we can help ensure that they do not have to risk their livelihoods while they risk their lives.

I do have a constitutional concern regarding the section of the bill that addresses the composition of the government corporation that will provide assistance to veterans in the formation and expansion of small businesses. This provision unjustifiably intrudes upon the President's constitutional authority and discretion to appoint executive officials, and, therefore, I will treat this provision as precatory.

WILLIAM J. CLINTON

                                 THE WHITE HOUSE,
                                 August 17, 1999.

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