Graves Rejects Costly, Inefficient Small Business Lending Bill
House Small Business Committee Ranking Member Sam Graves (R-MO) today voted against the Senate version of H.R. 5297, calling the bill a missed opportunity to help small businesses. H.R. 5297 passed the House by a vote of 237 to 187, with 13 Democrats joining 174 Republicans in voting no.
In a speech on the House floor, Ranking Member Graves said, “Small business owners aren’t looking for more government intervention and more wasteful spending; they’re looking for certainty. Small business owners are looking for a commitment from Washington leaders that their taxes will stay low. They need a commitment that they won’t be bombarded with more job-killing regulations. Most of all, they need to feel confident that they can hire new workers and invest in their businesses without fear that next week, next month, or even next year, Washington will turn its back on them.
“Instead of creating jobs like my colleagues on the other side of the aisle are promising, all this so-called ‘small business bill’ will create is disappointment. In fact, the bill actually removes a critical job creation requirement from one of the SBA lending programs. The truth of the matter is, this is just another bailout bill that will generate billions of dollars for financiers and not one penny for workers. If we are serious about creating jobs and encouraging small business expansion, we must work together to develop fiscally responsible policies that work for small businesses and families.”