Seventeen months ago, during the early days of the COVID crisis, this committee and our counterparts in the Senate worked together to create emergency relief programs to assist small businesses. At that time, hundreds of thousands of small firms across the country were closing their doors to protect their customers and their employees. Recognizing the dire nature of this situation, Congress create... Read more »
The coronavirus pandemic may have been the most severe and widespread shock to the global economy in recent history. It was a harsh reminder of the economic and social injury that come with being unprepared. The impact to small businesses in the U.S. has been especially damaging. In an effort to quickly address the crisis, Congress established emergency relief programs like the Paycheck Protection... Read more »
As new technology has made America more dependent on digital tools, malicious actors have been launching more frequent and severe cyber-attacks. In the early months of 2021, we’ve seen a wide array of headlines detailing attacks on institutions like large corporations and municipal governments. Just yesterday, the Biden administration acknowledged that hackers affiliated with the Chinese governmen... Read more »
For many years, America's innovative prowess has propelled our nation to become the world's preeminent economic power. Our economic dominance has, in part, been driven by federal investment in research and development. By prioritizing innovation, the federal government has financed inventions and discoveries that have benefited the economy and improved lives across the globe. Innovations has also ... Read more »
The health of the economy in rural communities is strongly tied to the overall well-being of the American economy. Rural areas hold the vast majority of our country’s land and supply the rest of the country with the food, water, and energy we depend on. And yet, as the representative of one of the most rural districts in the country, I’ve seen countless examples of the ways rural communities are i... Read more »
The COVID-19 pandemic inflicted a once-in-a-lifetime economic shock on our nation. The small businesses that make up the foundation of our economy were particularly hard hit. Despite government efforts, nearly 200,000 businesses that closed their doors during the pandemic may never reopen. These enterprises were more than just storefronts; they were entrepreneurs’ livelihoods, job creators, and pi... Read more »
Today is a chance for the Committee to hear directly from our fellow Members of Congress about their priorities for supporting programs and policies that promote small business creation and growth. Last year was a pivotal moment across our country and we all experienced – and still are because the pandemic is not over – something unprecedented. Our nation’s entrepreneurs closed more doors in 2020 ... Read more »
Cyber-attacks have the potential to threaten public safety and undermine the American economy and national security. The early months of 2021 provided harsh reminders of this fact. Over the past 6 months, hackers and other malicious actors have held an oil pipeline for ransom, breached the nation’s largest transit network, and attacked private companies to obtain sensitive customer data. According... Read more »
In 2020, COVID-19 widened the digital divide and highlighted the importance of reliable and affordable broadband for American small businesses. Many small businesses shifted operations online to stay connected to their customers as people stayed home to slow the spread of the virus. This digital adaptation proved to be crucial to small business success. According to a survey by the Connected Comme... Read more »
Women are at the center of the American economy. They make up nearly half the workforce and own an estimated 42 percent of all U.S. businesses. Before the pandemic, these women-owned businesses employed 9.4 million workers and generated $1.9 trillion in revenue. Businesses owned by women of color were experiencing exceptional growth. Pre-COVID, firms owned by women of color grew at 43 percent, one... Read more »
