SBC Requests Small Business Administration Office of Advocacy Study

WASHINGTON—Last week, Chairman Steve Chabot (R-OH) and Subcommittee on Economic Growth, Tax, and Capital Access Chairman Dave Brat (R-VA) sent a letter to the Small Business Administration (SBA) Office of Advocacy requesting the office conduct research examining the economic conditions for small business with the rise of occupational licensing. “At a time where small business owners are particularly having a hard time filling vacant positions, we are concerned that occupational licensing laws could have unintended consequences on small business... [...]

Chairman Praises Court Decision to Rollback “Unreasonable” DOL Regulation

WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the United States Court of Appeals for the Fifth Circuit ruled the Department of Labor’s (DOL) fiduciary rule “unreasonable.” The rule was an Obama-era regulation that would have limited access to affordable retirement savings advice. “The fiduciary rule was just another example of regulatory overreach during the last Administration. This court decision was a step in the right direction as far to roll back another harmful re... [...]

Bipartisan, Bicameral 7(a) Legislation Unanimously Advances House, Senate Small Business Committees

WASHINGTON - Yesterday, House Small Business Committee Chairman Steve Chabot (R-OH), Senate Small Business and Entrepreneurship Committee Chairman Jim Risch (R-ID), House Ranking Member Nydia Velázquez (D-NY) and U.S. Senator Jeanne Shaheen (D-NH) applauded the passage of their Small Business 7(a) Lending Oversight Reform Act of 2018 from both the Senate and House small business committees. This bipartisan, bicameral legislation will increase the Small Business Administration’s (SBA) oversight authority over the 7(a) loan program and now goes b... [...]

Chabot Hails the Passage of 6 Bipartisan Small Business Bills through Committee

WASHINGTON— Today, the House Committee on Small Business held a markup to amend the Small Business Act and the Small Business Investment Act. All six bills passed through Committee on bipartisan votes. H.R. 4743, the Small Business 7(a) Lending Oversight Reform Act, introduced by Chairman Steve Chabot (R-OH) H.R 4743 amends the Small Business Act to strengthen the Office of Credit Risk Management within the Small Business Administration. “With the popularity and recent growth of the Small Business Administration’s (SBA) 7(a) Loan Program, this ... [...]

ICYMI: Small Business Optimism Rises to Record Highs

WASHINGTON – This week, the National Federation of Independent Business (NFIB) announced that its small business optimism index rose in February to its second-highest reading in the 45-year history of the monthly survey. According to the report: Taxes received the fewest votes as the #1 business problem since 2006 Reports of improved earnings trends were the highest since 1987 Inventory investment was the strongest since 2000, fueling GDP growth Reports of actual capital outlays rose to the highest level since 2004 Reports of compensation incre... [...]