The Committee on Small Business will meet for a hearing titled, “Highway to Headache: Federal Regulations on the Small Trucking Industry.” The hearing will take place at 11:00 A.M. on Wednesday, November 29, 2017 in Room 2360 of the Rayburn House Office Building.
The trucking industry plays a critical role in the United States economy. America’s businesses rely on the trucking industry to transport and deliver all types of goods and products. Many trucking companies can be as small as a one-person business and are subject to many of the same federal requirements as large trucking companies, including transportation safety regulations, environmental regulations, worker safety regulations, and labor regulations. Industries that rely on the trucking industry or use trucking as part of their business model can also be subject to many of the same regulations. This hearing will examine how federal regulations affect the small trucking industry and explore ways to provide regulatory relief to the industry.Attachments
WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement following the House passage of H.R. 1, the Tax Cuts and Jobs Act:
“As Chairman of the House Committee on Small Business, I want to ensure the tax code works for our nation’s job creators, not against them. H.R. 1 will reduce taxes for small businesses from a top rate of almost 40 percent down to 25 percent, and includes an additional, lower tax rate of 9 percent for the smallest of small businesses. Additionally, it will create tens of thousands of jobs for the people of Ohio and across the country and allow Americans to keep more of their hard-earned paychecks.”
The Committee on Small Business will meet for a hearing titled, “Federal Government and Small Businesses: Promoting Greater Information Sharing for Stronger Cybersecurity.” The hearing is scheduled to begin at 11:00 A.M. on Wednesday, November 15, 2017 in Room 2360 of the Rayburn House Office Building.
Small businesses are prime targets for cyber attackers and the threat continues to grow. Unfortunately, small business owners face an uphill battle in protecting themselves from bad actors because they often lack the resources required to employ the best defenses. As the federal government and private sector continue to take steps to strengthen small business cybersecurity, the lack of information sharing between federal and private partners poses a major hurdle to effectively combatting cyber attacks. The hearing will examine how federal agencies can encourage greater information sharing with small businesses and provide timely assistance and resources when a cyber attack on a small business occurs. Additionally, the hearing will examine the policies that discourage small businesses from engaging with federal agencies for cybersecurity assistance.Attachments
WASHINGTON – Today, the House Committee on Small Business held a hearing to examine how federal agencies can encourage greater information sharing with small businesses and provide timely assistance and resources when a cyber attack on a small business occurs.
“This Committee has heard from experts, government officials, and small business owners on numerous occasions that cyber threats remain a top concern for America’s small business community. Information sharing is a fundamental component for a strong and effective cybersecurity defense, not just for small businesses but for America’s network as a whole. The federal government must make every effort possible to ensure that small businesses have both the resources and the confidence they need to actively engage with the federal agencies tasked with protecting our critical infrastructure,” said Chairman Chabot (R-OH).
Cyber Threats Remain a Top Concern for Small Businesses
While the federal government has made a serious effort to coordinate and distribute cyber security resources directly to small businesses, challenges still remain in ensuring that they are protected from cyber attacks.
“Small businesses are extremely resourceful. Having quality incident reporting and cyber intelligence flowing to the small business community lets us build solutions for ourselves. Our biggest challenge, in that regard, is collecting and aggregating data from a wide array of sources,” said Rob Arnold, CEO & Founder of Threat Sketch, LLC in Winston-Salem, NC.
“Recent ransomware attacks have been devastating with 1 in 5 companies forced to immediately shut down operations for three days and in some cases, more than two weeks, said Ola Sage, Founder and CEO of e-Management and Co-Founder and CEO of CyberRx in Silver Spring, MD. ”Solving this problem requires greater information sharing between the government and the SMB community to help companies better identify threats, protect their infrastructure, detect anomalies, respond to, and recover from significant cyber events.”
“In 2014, 71 percent of companies admitted they fell victim to a successful cyber-attack. Meanwhile, the amount of data online is expected to increase 50-fold by 2020, signaling accelerated tech innovation but also adding new attack vectors due to increased connectivity and a sweetening of the pot for potential cyber criminals. Cybersecurity risk management strategies must keep pace with this growing threat – a task that evolves as more online traffic and commerce is dedicated to the internet of things,” said Morgan Reed, President of ACT | The App Association in Washington, DC.
“We have to acknowledge the fact that for most small businesses, cybersecurity is an expense they don’t want to incur when they’re trying to simply make payroll and remain profitable,” said Thomas Gann, Chief Public Policy Officer of McAfee, LLC in Reston, VA. “This doesn’t mean that small businesses don’t need or can’t benefit from cyber threat intelligence; they certainly can. But perhaps we should focus our discussion more on sharing a different kind of information – information that is more informative and educational right away.”Read More
WASHINGTON—Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement regarding the passage of the FY2018 National Defense Authorization Act (NDAA) conference report:
“Not only does the NDAA include the largest pay increase for our nation’s armed forces, it also is a win for America’s 29 million small businesses,” said Chairman Steve Chabot. “Small businesses play a vital and indispensable role in providing for the common defense, and I thank both Chambers for recognizing their contribution to the safety of our homeland.”
Among other beneficial small business provisions, versions of the following bills were included in the FY2018 NDAA:
WASHINGTON—Today, Chairman Steve Chabot (R-OH) and the House Committee on Small Business held a bipartisan roundtable to hear from advanced small and mid-tier businesses and industry experts on the challenges to growth and success.
“After a small business has proven its success by growing out of its small size standard, it exists in a murky limbo – it is too large to benefit from small business set-asides, yet is too small to compete with billion dollar firms,” said Chairman Steve Chabot. “Our goal is to learn more about what is happening to advanced small—or mid-tier—businesses.”
The roundtable provided a forum for Members to learn about this middle market and the disparities from small to mid-tier business owners, academia, trade organizations, and subject-matter experts.Data on these mid-tier companies is minimal, but preliminary evidence shows these firms are limited to a few options: relegate themselves to subcontracting opportunities; sell the company to a larger firm; or try to compete in full and open markets.
WASHINGTON – Last week, House Committee on Small Business Chairman Steve Chabot (R-OH) wrote an op-ed for the Hill on veterans starting small businesses once they return from the battlefield, and the tools they need to succeed.
“When our nation’s military men and women return home after service, they not only deserve our gratitude, but often times need our help. Many who return do so with the dream of starting their own business. Not surprisingly, those who have served in the military already possess many of the same skills – such as leadership, discipline and fortitude - that make great entrepreneurs and business owners. Once they return, they just need the tools and resources to see their dream through,” said Chairman Chabot.
Chabot continued, “As Chairman of the House Committee on Small Business, I recognize how important it is to celebrate America’s veteran entrepreneurs and the contributions they have made to our economy. Each year, we do so during Veterans Small Business Week, particularly because the 2.5 million veteran-owned businesses in the U.S. hire more than 5 million employees.”
To continue reading the full article, click HERE.Read More
WASHINGTON- This week, Congressman Bill Johnson (R-OH) wrote an op-ed on why lawmakers need to finish the year strong by providing tax cuts for small businesses.
“Here in Ohio, small businesses are an especially big deal. A whopping 99.6 percent of our companies are small businesses, according to figures from the U.S. Small Business Administration. They employ over two million Ohioans, making up 46 percent of all employees in-state. In the latest Kauffman Foundation rankings, Columbus and Cleveland both placed in the top-30 metro areas nationwide for entrepreneurial growth rates,” said Johnson.
Johnson continued, “In the U.S. House of Representatives, the Small Business Committee is chaired by Ohio’s very own Rep. Steve Chabot. He’s well aware that small businesses – and the economic growth they provide – are being held back by onerous taxes.”
Click HERE to read the full article.
Additionally, in July Chairman Chabot sent a letter to the Ways and Means Committee requesting that small businesses have a voice in tax reform.Read More
The Committee on Small Business will meet for a hearing titled, “Hiring More Heroes: A Review of SBA’s Office of Veterans Business Development.” The hearing is scheduled to begin at 11:00 A.M. on Wednesday, November 8, 2017 in Room 2360 of the Rayburn House Office Building.
The Committee will examine the United States Small Business Administration’s (SBA) Office of Veterans Business Development’s (OVBD) efforts to transition our nation’s veterans from the battlefield to the small business realm. As the majority of veteran-owned businesses are small businesses, it is crucial that veterans have the tools and resources they need to get off the ground once they return home. The hearing will examine whether the OVBD is operating efficiently and effectively to serve our nation’s veterans.Attachments
Ms. Barbara Carson
Office of Veterans Business Development
United States Small Business Administration
WASHINGTON—Ahead of Veterans Day, Members of the House Committee on Small Business heard testimony from Ms. Barbara Carson, the Associate Administrator of the Office of Veterans Business Development at the United States Small Business Administration (SBA), on the tools and resources veterans can access to start or expand their small business.
“Our nation’s veterans make extraordinary sacrifices, put their lives on the line, and keep our country safe. They are our fathers, mothers, siblings, and friends. They are our heroes,” said Chairman Steve Chabot (R-OH).
“However, veteran employment levels have historically fallen behind those of their nonveteran counterparts. This is often due to the difficulties veterans face when transitioning from the military to the workforce. Research shows that veterans face many barriers to employment that their peers do not, such as potential employers’ difficulty in understanding a military resume or the result of a service-connected disability. We can, and must, do better for them,” Chairman Chabot continued.
From the Battlefield to the Boardroom
America’s armed forces not only defend and protect our nation, but also learn the skillset needed to operate successful businesses. The SBA’s Office of Veterans Business Development was established to bridge the gap that exists between veteran and nonveteran employment levels.
“The SBA is dedicated to serving aspiring and existing veteran business owners. About 2.5 million businesses are majority-owned by veterans, and nearly all veteran-owned businesses are small businesses and contribute approximately 1.4 trillion dollars to the nation’s total sales/receipts per year,” said Barbara Carson. “Many veteran business owners have gained important skills and leadership abilities that are often directly relevant to business ownership.”
“The significance of access to capital is one of the greatest challenges small businesses face,” said Chairman Steve Chabot (R-OH). “This is why the Ranking Member and I introduced the Veterans Entrepreneurship Act a couple years back which was signed into law by the President.”
Rep. Trent Kelly (R-MS), asked, “Of all the SBA’s loan programs that are targeting veterans, which ones are most popular for our veteran entrepreneurs?” To which Ms. Carson replied, “We have the most participation in the 7(a) loan program.”
“How do you measure success? Does your department have goals? And if they do, what are the big goals? Where we measure in business, we improve on,” said Rep. Rod Blum (R-IA).
Ms. Carson replied, “We measure things such as business starts, capital acquired, but because of the mission assigned, it will be tougher for that group [veterans]. The results have been increased participation by 12 percent in the last three years, and 55,000 were trained by Veterans Business Outreach Centers (VBOCs).”
Several Members of the Committee on Small Business have served, or are still serving, in the military. Mr. Kelly (R-MS), Mr. Knight (R-CA), Mr. Bacon (R-NE), and Mr. Marshall (R-KS), have all served their country honorably both on the battlefield and in the halls of Congress.Click here to view full video and here to read full testimony.
WASHINGTON - Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement upon House passage yesterday of H.R. 3441, the Save Local Business Act, legislation that will reverse an Obama-era scheme that threatens small businesses. Chairman Chabot is an original co-sponsor of the bill and, earlier this year, sent a letter to the House Education and Workforce Committee in support of H.R. 3441.
“Small businesses have been hurting under this rule for years and it’s time we put an end to it. Under the new standard, a potential small business owner may avoid buying a franchise because of the risk of being punished for the actions of a franchiser. It has also created a lot of confusion and unnecessary challenges for job creators that just want to grow their companies,” said Chairman Chabot. “Today’s vote will restore certainty to America’s small business owners and their employees so they can continue to operate their businesses locally and independently. Enacting this legislation will help ensure continued freedom for America’s best job creators.”
The Committee first held a roundtable in April 2015 on the emerging issue. NLRB then expanded its definition of the joint employer standard in August 2015. In March 2016, the Committee held a hearing titled, “Risky Business: Effects of New Joint Employer Standards for Small Firms” to examine the direct impact of the rule on small businesses.
To watch Chairman Chabot’s full remarks, click on the video below.Read More
The Committee on Small Business Subcommittee on Agriculture, Energy, and Trade will meet for a hearing titled, “Investing in Small Businesses: The SBIC Program.” The hearing is scheduled to begin at 10:00 A.M. on Tuesday, November 7, 2017 in Room 2360 of the Rayburn House Office Building.
This hearing will examine the United States Small Business Administration’s (SBA) Small Business Investment Company (SBIC) Program. As the Committee continues to explore the issue of access to capital, this hearing will provide Members the opportunity to hear directly from participants in the SBIC Program.Attachments
WASHINGTON—Today, Members of the Subcommittee on Agriculture, Energy, and Trade heard from a panel of witnesses from all over the country who participate in the Small Business Administration’s (SBA) Small Business Investment Company (SBIC) Program.
“As a way to inject more equity into the small business ecosystem to address the gap in long-term financing, the SBA created the Small Business Investment Company Program, also known as the SBIC Program, in 1958,” said Subcommittee Chairman Rod Blum (R-IA). “Like many of the SBA’s financial programs…robust and thorough Congressional oversight is required to ensure taxpayer money is safeguarded and protected.”
A Successful Private-Public Sector Solution
The SBIC program is a vital source of capital for small businesses and is a leading example of how the federal government and the private sector can work together to grow the economy and create jobs.
“The program is effective and distinct because the private sector leads with its capital and investment expertise and then SBIC leverage follows to augment the impact of the private investment,” said Brett Palmer, President of the Small Business Investor Alliance in Washington, DC. “It is a mark of SBIC industry pride that the program continued to maintain its zero-subsidy throughout the Great Recession.”
“A hallmark of the SBIC Program is its rigorous licensing process for prospective SBIC funds, ensuring taxpayer protection and safeguarding the program’s reputation,” said Thies Kolln, Partner at Aavin Private Equity in Cedar Rapids, IA. “Because of our location and our firm’s investing principles, we have a particular impact on small businesses in Iowa. In our firm’s history, we have made 26 investments in Iowa small businesses, one as recently as the end of October.”
“Our growth has been driven by doing more of the same investments in small businesses. We invested in 28 small businesses through our first SBIC fund and expect to invest in 40 – 50 small businesses over the life of Plexus Fund IV,” stated Michael Painter, Managing Partner at Plexus Capital in Raleigh, NC. “While many peers have found great success moving up market to serve larger companies, we have been intentional about staying focused on smaller businesses who have limited access to capital where we can make a meaningful impact on growth.”“The SBIC program is one of the most innovative, financially successful and well-structured government programs in existence,” said Mark Walsh, Managing Director at Ruxton Ventures in Chevy Chase, MD. “The license application and approval process is extraordinarily rigorous, and creates an efficient “filter” for mismanaged or ill-targeted funds from receiving taxpayer dollars.”
WASHINGTON—Yesterday, Chairman Steve Chabot (R-OH) and Ranking Member Nydia Velázquez (D-NY) introduced a bipartisan House resolution to recognize November 25, 2017, the Saturday after Thanksgiving, as “Small Business Saturday.”
The text of H. Res. 603 highlights the important role small businesses play in our nation’s economy, stating that the over 29 million small businesses in the United States:
“Our nation is built on hard work, determination, and old-fashioned American ingenuity,” said Small Business Committee Chairman Steve Chabot (R-OH). “As Chairman of the House Committee on Small Business, I hear daily of the stories of America’s 29 million small businesses that stretch from West Hollywood to Westwood—my hometown. I thank Ranking Member Velázquez for her support for this bipartisan resolution, and encourage all Americans to ‘shop small’ on November 25.”
“Local Main Street businesses represent the heart of American entrepreneurship and promise,” said Small Business Committee Ranking Member Nydia M. Velázquez (D-NY). “I am pleased to work with Chairman Chabot in introducing a resolution to recognize Small Business Saturday. Small Business Saturday is a chance for Americans to invest in their communities, enjoy the company of neighbors and shop locally.”
The full Committee co-sponsored this resolution.
The Committee on Small Business Subcommittee on Investigations, Oversight, and Regulations will meet for a hearing titled, “Operating or Rulemaking? A Review of SBA’s Opaque Standard Operating Procedures Process.” The hearing is scheduled to begin at 10:30 A.M. on Thursday, November 2, 2017 in Room 2360 of the Rayburn House Office Building.
The Subcommittee will examine the Small Business Administration’s (SBA) standard operating procedures process.Attachments
Mr. Joseph Loddo
Chief Operating Officer
United States Small Business Administration
The Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access will meet for a hearing titled, “Financing Through Fintech: Online Lending’s Role in Improving Small Business Capital Access.” The hearing is scheduled to begin at 10:00 A.M. on Thursday, October 26, 2017 in Room 2360 of the Rayburn House Office Building.
The hearing will provide the Subcommittee with an opportunity to examine recent trends in how small businesses obtain capital, the different business models in the industry, and how online lending fits into the overall lending landscape.Attachments
The Committee on Small Business Subcommittee on Contracting and Workforce will meet for a hearing titled, “GAO Audit Reveals Half-Measures Taken by Small Business Advocates.” The hearing is scheduled to begin at 11:00 A.M. on Wednesday, October 25, 2017 in Room 2360 of the Rayburn House Office Building.
The hearing will review a comprehensive audit of the Offices of Small and Disadvantaged Business Utilization (OSDBU) by the Government Accountability Office (GAO). The GAO report examines compliance with select Small Business Act section 15(k) requirements by the OSDBU across 24 federal agencies.
The Committee on Small Business will meet for a hearing titled, “Small Business Capital Access: Supporting Community and Economic Development.” The hearing is scheduled to begin at 2:30 P.M. on Friday, October 20, 2017 in Studio C at The Enterprise Center, 4548 Market Street, Philadelphia, PA 19139.
The hearing will look at capital access programs working to promote affordable lending products for small businesses, especially those in distressed areas.
The Subcommittees on Investigations, Oversight, and Regulations and Economic Growth, Tax, and Capital Access will meet for a joint hearing titled, “Oversight Improvements Needed: SBA OIG’s Review of the Microloan Program.” The hearing is scheduled to begin at 2:00 P.M. on Thursday, October 12, 2017 in Room 2360 of the Rayburn House Office Building.
The Subcommittees will examine the Small Business Administration’s (SBA) Microloan Program. The hearing will focus on the SBA’s Office of Inspector General’s September 28, 2017 report entitled, “Audit of SBA’s Microloan Program.”
1. Hearing Notice
2. Witness List
3. Hearing Memo
4. Opening Statements - Subcommittee Chairman Kelly
5. Opening Statement - Subcommittee Chairman Brat
Mr. Hannibal “Mike” Ware
Acting Inspector General
United States Small Business Administration
Mr. William Manger
Office of Capital Access
United States Small Business Administration
The hearing will examine the current state of women’s entrepreneurship in the United States, while highlighting both the challenges women entrepreneurs experience and the existing resources available to support women-owned small businesses. Additionally, this hearing, occurring during National Women’s Small Business Month, will address what can be done to decrease the entrepreneurial gender gap by highlighting the areas in which resources and opportunities available to women entrepreneurs could be expanded.