Small Business Committee Examines Report on SBA 7(a) Loans to Poultry Farmers

WASHINGTON – Today, Chairman Steve Chabot (R-OH) and the House Committee on Small Business heard from agency officials from the United States Small Business Administration (SBA) on the SBA Office of the Inspector General’s (OIG) March 6, 2018 report entitled, “Evaluation of SBA 7(a) Loans Made to Poultry Farmers.” “The subject of today’s hearing is further justification that more oversight of the SBA is needed to ensure that taxpayer dollars are preserved for small businesses that cannot qualify for traditional lending,” said Chairman Chabot. “... [...]

Out With the Old, In With the New (Tax Code)

Today marks the end of an era—an era of high taxes and a complicated tax code that has burdened small business owners and hardworking Americans for decades. Today will be the last day Americans file their taxes under the old and broken tax code. That’s right, because the Republican Congress worked with President Trump and his Administration, Congress overhauled the 31-year-old tax code and unleashed an economic revival across our nation. American small businesses employ about half the private sector workforce and create seven out of every ten n... [...]

Chabot Applauds FCC and Commerce Department's Actions Against Nefarious State-Sponsored Foreign Businesses

WASHINGTON--Today, Chairman Steve Chabot (R-OH) released the following statement on the Federal Communications Commission (FCC) and Department of Commerce's actions against state-sponsored foreign businesses: “As Chairman of the House Small Business Committee, I have long held concerns that China’s state-backed telecommunications firms pose a significant threat to America’s hardworking small businesses. There is little question that China’s telecoms firms undermine America’s interests—this is a threat to both our overall economy and our nationa... [...]

Chairman Chabot Supports Bill to Improve Access to Capital

WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) helped pass H.R. 4790, the Volcker Rule Regulatory Harmonization Act to roll back the Volcker Rule, a burdensome and harmful regulation created under the onerous Dodd-Frank Act. Specifically, H.R. 4790 would exclude community banks from the Volcker Rule by raising the compliance threshold to $10 billion in consolidated assets, exempting them from regulations intended for large investment banks engaged in speculative trading. “Instead of addressing problems, the V... [...]

Connecting Small Businesses with their Communities

WASHINGTON – Today, Members of the Committee on Small Business Subcommittee on Investigations, Oversight, and Regulations heard from a panel of experts on entrepreneurial development and the interdependent relationship between a community and small businesses. “With 29.6 million small businesses employing 47.8 percent of the workforce, small business success is essential to the economic well-being of both individual communities throughout the country as well as our nation overall. While there are many factors that contribute to the success of a... [...]