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Chairman Graves Proposes Cuts To SBA Budget, Cites JEC Study In Need For More Spending Reductions

Washington, Mar 15 -

House Small Business Committee Chairman Sam Graves (R-MO) has released the following statement after today’s full committee markup hearing on the Small Business Administration FY 2012 Budget:

“Americans work too hard and pay too much in taxes for Washington to spend so much and waste so much.  Everyone is tightening their belts; so should Washington.”

“The Small Business Committee believes that the Small Business Administration (SBA) budget needs to eliminate funds from duplicative and ineffective programs and reallocate some of those funds to programs that will be more helpful to America’s entrepreneurs. There isn’t a federal agency that should be immune from cutbacks and fiscal discipline and the Small Business Administration (SBA) is no different.”

“Our views and estimates proposal cuts nearly $100 million, or roughly 10%, from the SBA budget.  Fourteen programs are defunded because they duplicate existing programs at the SBA or at other agencies.  Other programs receive no recommendations of funds where there is an absence of any evidence that they will help small businesses create new jobs. However, the core functions of the SBA to make capital available, provide advice, and increase utilization of small businesses as federal government contractors are preserved and improved.”

“Today, the House Joint Economic Committee Republicans unveiled a study that proves that less government spending lowers the deficit and boosts economic growth and job creation. Reducing government spending as a percentage of GDP will accelerate economic growth and create an environment for hiring. Stopping the government from out-of-control spending will contribute to a more stable economic environment for our small business owners. This is consistent with what small business owners have been telling me in our hearings: that cutting spending, keeping taxes low, and preventing job-crushing regulations are all needed to unleash the power of the most dynamic elements of our economy – small businesses and entrepreneurs. As our nation faces a dire fiscal crisis, reining in out-of-control government spending and making the tough decisions necessary to reduce our debt is critical to a stable, healthy economy in the long-term.”

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CLICK HERE to read the full JEC study.