Subcommittee on Economic Growth, Tax and Capital Access
June 25, 2012
Field Hearing in Illinois: High Fuel Prices: The Impact on Illinois Small Businesses and Job Creation
While the price of gasoline has slightly declined from previous highs, the average nationwide cost of a gallon of regular gasoline remains 29 percent higher than it was two years ago. According to a recent survey by the Small Business and Entrepreneurship Council, 72 percent of small businesses report they are affected by high energy prices. Of these businesses, 41 percent report that they have altered hiring plans and another 22 percent report reducing employee hours. The hearing studied the relationship between high gasoline prices and the economic and policy uncertainties faced by small businesses in Illinois.
Opening Statement:Chairman Joe Walsh (R-IL)
Witnesses and Testimony: