Week Ahead for the House Small Business Committee: December 2-6

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Washington, Dec 2, 2013 | comments

Committee to hold Hearing on Health Law’s Business Aggregation Rules, Subcommittee Hearings on Impact of Regulations on Small Lenders and the Post-Recession Lending Environment

WASHINGTON, DC – The House Small Business Committee, chaired by Rep. Sam Graves (R-MO), today announced the schedule for the week of December 2, 2013:
 
On Tuesday, December 3, at 10:00 a.m., the Small Business Subcommittee on Investigations, Oversight and Regulations, under the chairmanship of Rep. David Schweikert (R-AZ), will conduct a hearing titled Regulatory Landscape: Burdens on Small Financial Institutions. The purpose of the hearing is to examine the effects of the overall regulatory burden on small financial institutions, namely banks and credit unions.

“Access to capital remains an issue for many small business owners and entrepreneurs,” said Rep. Schweikert. “Credit unions and small banks continue to struggle to keep up with the onslaught of new regulations stemming from the Dodd-Frank Act. The complexity of these regulations increases compliance cost, and the law requires additional capital be held against small business loans, further reducing the amount of capital available for small businesses.”
 
On Wednesday, December 4, at 1:00 p.m., the Committee will conduct a hearing titled, The Health Care Law: The Effect of the Business Aggregation Rules on Small Employers. The purpose of the hearing is to examine the process of determining whether businesses are considered single or multiple entities under the health care law for purposes of the employer mandate.
 
“The health care law’s use of these complex rules can cause real uncertainty for small businesses, such as family-owned businesses or entrepreneurs that have more than one business venture at a time,” said Chairman Graves. “Since the passage of this law in 2010, many small firms have had questions about whether their businesses fall under the aggregation rules and how to count their employees. Often the answers are not at all clear. The lack of guidance and clarity is just another example of a law that is unworkable and bad for small businesses."
 
On Thursday, December 5, at 10:00 a.m., the Small Business Subcommittee on Economic Growth, Tax and Capital Access, under the chairmanship of Rep. Tom Rice (R-SC), will conduct a hearing titled Where Are We Now? Examining the Post-Recession Small Business Lending Environment. Although bank lending to small businesses has improved over the past two years, it remains below pre-recession levels. The purpose of this hearing is to receive testimony from industry leaders and experts regarding the various factors and economic trends affecting levels of lending to small businesses.
 
“Federal Deposit Insurance Corporation (FDIC) data shows that traditional bank lending to small businesses has not fully rebounded from the recession,” said Rep. Rice. “Without access to needed capital, small businesses will have a difficult time expanding, thus slowing our economic recovery. I look forward to having a discussion about the various economic forces affecting current levels of lending.”

Watch the hearings live HERE.
 
Event Details:
Tuesday, December 3, 2013, 10:00 a.m. EST
2360 Rayburn House Office Building
Small Business Subcommittee on Investigations, Oversight and Regulations
Regulatory Landscape: Burdens on Small Financial Institutions
 
Wednesday, December 4, 2013, 1:00 p.m. EST
2360 Rayburn House Office Building
House Small Business Committee
The Health Care Law: The Effect of the Business Aggregation Rules on Small Employers
 
Thursday, December 5, 2013, 10:00 a.m. EST
2360 Rayburn House Office Building
Small Business Subcommittee on Economic Growth, Tax and Capital Access
Where Are We Now? Examining the Post-Recession Small Business Lending Environment
 
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