House Small Business Committee Chairman Sam Graves (R-MO) issued the following statements on the President’s FY2014 Budget overall, and the Small Business Administration (SBA) Budget specifically. The White House Budget was released today, more than nine weeks past the February 4th deadline. ###
“With the federal debt now more than $16.7 trillion, and nothing but yearly deficits ahead, I had hoped that the President would do more to address our nation’s fiscal irresponsibility. Instead, this budget does not balance, it raises taxes, and it does more to grow the government, instead of growing the economy. This Budget’s $1.1 trillion in tax increases is debilitating for small companies who are already facing new requirements and taxes from the health care law and $600 billion from the President’s New Year’s tax hike. These aren’t just tax increases on the wealthy, they actually represent a tax hike on small businesses that are organized as ‘pass-through’ entities, where business income is passed through to the personal returns of the owner for taxation. Small businesses – the engine of job creation – cannot operate and plan ahead under this type of fiscal stewardship.”
On the Small Business Administration Budget:
“In this fiscal climate, it is imperative that the SBA reduce wasteful spending and refocus on its core programs to meet small business needs. Although I appreciate the decrease in overall funding level, the Budget does not represent efficiency and stability, but rather more risk. Programs that have a track record of helping small businesses the most should be the priority, like funding for Procurement Center Representatives, which is congressionally-mandated, rather than unauthorized and unproven pilot programs, such as the Regional Innovation Clusters and Emerging Leaders Programs. While I support efforts to modernize government processes using information technology, the SBA has demonstrated an inability to manage such projects in a timely and efficient manner. Starting new projects, such as the proposed SBA One lending platform, when existing projects, such as the modernization of the loan management accounting system remain incomplete, is a poor use of limited resources. Overall, the SBA budget request spreads the agency’s resources too thin thereby undermining its ability to provide its core functions mandated by Congress – counseling, capital access, and contracting.”
House Small Business Committee Chairman Sam Graves (R-MO) issued the following statements on the President’s FY2014 Budget overall, and the Small Business Administration (SBA) Budget specifically. The White House Budget was released today, more than nine weeks past the February 4th deadline.