Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement on the Trump Administration's latest COVID-19 relief proposal: "Just this week, we have learned the economy has lost a record 22.1 million jobs since the beginning of the pandemic with many of those losses occurring at small businesses. "Unfortunately, the Trump Administratio... Read More »
Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) requested that the Small Business Administration (SBA) release data related to COVID-19 relief programs. In her letter, Chairwoman Velázquez asks that the SBA comply with data requests from the Government Accountability Office (GAO) related to SBA’s coronavirus response programs, specifically the Economic ... Read More »
Washington, D.C.— Today, House Small Business Subcommittee on Investigations, Oversight, and Regulations Chairwoman Judy Chu (D-CA) led a hearing probing internal controls against fraud and abuse in key loan programs at the Small Business Administration (SBA). During the hearing, government watchdog agencies testified on their efforts to prevent fraud and waste in the Paycheck Protection Program (... Read More »
The COVID-19 pandemic has fundamentally altered the way America’s small businesses operate. Mandatory closures to protect public health have significantly impacted their bottom line and viability. To help small businesses weather the pandemic, Congress has passed a series of legislative packages. On March 6th, The Coronavirus Preparedness and Response Supplemental Appropriations Act became law and... Read More »
Washington, D.C.— Today, the House Small Business Committee under Chairwoman Nydia M. Velázquez (D-NY), gathered food producers and small business owners to investigate the impact of the COVID-19 crisis on America’s food systems and the small businesses that depend on them. “Many of the issues facing our food system and society existed pre-pandemic. Now, because of the inability to control the spr... Read More »
Washington, D.C- Today, House Small Business Committee Chairwoman Nydia M. Velazquez (D-NY) issued the following statement on House Democrats’ release of an updated Heroes Act: “Small businesses across the country are struggling. With economic recovery stalling and a new potential wave of small business closures looming, America’s entrepreneurs need more federal relief. “We must meet their needs w... Read More »
We are meeting today to conduct an important hearing on the Small Business Administration’s Paycheck Protection Program, or “PPP,” and specifically, a review of the loan forgiveness process.I want to thank each of the witnesses for their testimonies today. Over the past several months, this Committee has held numerous hearings on the PPP, and we’ve heard from borrowers and lenders about the challe... Read More »
Washington, D.C.- Today, the House Small Business Subcommittee on Economic Growth, Tax, and Capital Access, led by Rep. Andy Kim (D-NJ), inspected issues related to the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) loan forgiveness process. Small business owners and lenders testified on problems they have encountered while navigating the loan forgiveness process. “Loan fo... Read More »
Washington, D.C.— Today, the House Small Business Committee Subcommittee on Innovation and Workforce Development, under Chairman Jason Crow (D-CO) held a hearing examining how the Small Business Administration’s (SBA) legacy technology systems faired throughout the implementation of the Paycheck Protection Program (PPP). The hearing also covered recent issues surrounding the SBA’s release of PPP l... Read More »
Washington, D.C.— Yesterday, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) and Ranking Member Steve Chabot (R-OH) introduced a resolution to recognize September 22nd to September 24th as National Small Business Week. The week has been observed annually since 1963 to commemorate the contributions of small business owners and their more than 60 million employees. “National Smal... Read More »
Washington, D.C.— Today, the House Small Business Committee, led by Chairwoman Nydia M. Velazquez (D-NY), passed four bipartisan bills to make critical changes to the Small Business Administration (SBA) 504 and 7(a) lending programs and to improve the appeals process in the HUBZone federal contracting program. “Prior to the Coronavirus, the Committee held numerous hearings and roundtables to learn... Read More »
Today, the Committee will examine the management and operations of SBA’s Office of Government Contracting and Business Development. The main purpose of this office- commonly known as GCBD- is to maximize small business participation in government contracting. We know that when a small business is awarded a federal contract, it spurs economic development and job growth in our communities. One of th... Read More »
Washington, D.C.— Today, the House passed four bipartisan bills to improve the Small Business Administration (SBA) Microloan program, increase small business exporting opportunities, and expand federal small business initiatives to the Northern Mariana Islands, the only U.S. jurisdiction not currently covered by these SBA programs. “Staying true to the tradition of our Committee, the bills passed ... Read More »
Washington, D.C.— Yesterday, the House Small Business Subcommittee on Rural Development, Agriculture, Trade, and Entrepreneurship, led by Chairwoman Abby Finkenauer (D-IA), held a virtual hearing exploring policies to boost entrepreneurship in rural communities to help expedite their economic recovery. “Due to the downturn in our economy, 7.5 million small businesses are now at risk of closure, an... Read More »
I want to start by recognizing the Iowans in our community who have gone through hell the last few weeks. You see, cities and towns in our congressional district were hit by a derecho in the middle of August. That meant hurricane-like 140 mile per hour winds ripping through homes, businesses, and farms –– all this with almost no warning. Hundreds of thousands were left without power for more than ... Read More »
