Committee Focuses on Fiscal Path for SBA with Inspector General
The House Committee on Small Business, led by Chairman Sam Graves (R-MO), today held a hearing emphasizing the need for the Small Business Administration (SBA) to reduce duplication and improve efficiency.
Testifying was the Hon. Peggy Gustafson, Inspector General for the Small Business Administration. During the hearing, the Committee examined how the Inspector General’s work contributes to greater efficiency at the SBA that will save the United States taxpayers dollars. The hearing focused on the SBA’s management of its $100 billion loan portfolio and long-awaited upgrades to its associated technology systems, the SBA’s unauthorized counseling pilot programs, and the SBA’s oversight of contracting programs and its record of reducing fraud.
“Given the current debt, it is imperative that the SBA operate in the most efficient manner possible,” said Chairman Graves. “The SBA budget has room to reduce duplication. The Administrator testified in April that the SBA is pursuing the creation of pilot programs that were not authorized by Congress, rather than seeking savings. That opens a new source of potential wasteful spending. The SBA’s $100 billion loan portfolio could present a risk to the taxpayer if not properly managed, and vigorous oversight of the agency’s contracting programs is essential to ensure that only qualified small businesses are participating. The Inspector General’s testimony and ongoing efforts to improve the agency’s function aids the Committee and Congress in creating a responsible fiscal path for the SBA.”
Materials for the hearing are posted on the House Small Business Committee’s website HERE.###