Running on Empty: The Effects of High Gasoline Prices on Small Businesses
Persistently high gasoline prices are draining family budgets and putting increased stress on small businesses. According to a recent survey by the Small Business and Entrepreneurship Council, 72 percent of small businesses report they are affected by high energy prices. Of these businesses, 41 percent report that they have altered hiring plans and another 22% report reducing employee hours. Small businesses are the historic source of new job creation in the economy, but are currently facing many challenges, including the burden of high fuel prices, that inhibit their ability to invest, grow and hire new workers. The hearing studied the relationship between high gasoline prices and small businesses.
Opening Statement:Chairman Sam Graves (R-MO)
Witnesses and Testimony: