COVID-19 sparked a once-in-a-lifetime crisis for American small businesses. As cases rose, COVID forced small firms across the country to shut their doors to protect their customers and employees and slow the spread of the virus. By April of 2020, the number of active small business owners had fallen by 22%, the most significant drop on record in our nation’s history. Since this dire situation eme... Read more »
"Administrator Guzman, welcome to the Small Business Committee, and thank you for being here today. First and foremost, I want to commend you for the tremendous work you’ve done for our nation’s small businesses. "And it is important to point out that, you took over the helm of SBA in the midst of an unprecedented crisis for our nation’s small firms. In 2020, COVID-19 closed more businesses than ... Read more »
America’s 30 million small businesses support more than 56 million jobs and account for nearly half of our nation’s GDP. It’s no exaggeration to say that these small firms are the foundation of our economy. But despite the fundamental importance of these enterprises, the road to small business ownership is fraught and paved with obstacles for prospective entrepreneurs. Recognizing the uphill climb... Read more »
Access to capital is the lifeblood of American small business. When small firms obtain adequate funding, they can grow their business, create jobs, and bolster the overall economy. Unfortunately, accessing capital is the single greatest challenge facing most entrepreneurs. This is especially true for underserved groups like women and minorities, who don’t have the same opportunities to access fund... Read more »
During my tenure on this committee, I’ve seen countless examples of how small businesses drive American innovation. Technology has changed rapidly over the years, thanks to pioneering entrepreneurs leading the way. Congress has facilitated this innovation through investments in federally funded research and development, also known as R&D. As a result, federally funded R&D has produced countless in... Read more »
It’s no secret that America’s infrastructure has long been in decline. The World Economic Forum ranked the United States 13th in the world for infrastructure in 2019. Our country earned a C- in a recent infrastructure report card issued by the American Society of Civil Engineers, continuing a streak of subpar marks from the organization. Across the country, roads, bridges, and railways are crumbli... Read more »
Today’s hearing serves as a reminder that the immigrant story is the American story. For centuries, the United States has welcomed immigrants from all around the world. These migrants often risked their safety and well-being to get here. They crossed vast desserts, tumultuous oceans, and rugged terrain—all in the pursuit of a better life and the American dream. In turn, these immigrants have made ... Read more »
The COVID-19 pandemic sparked a once-in-a-lifetime crisis for American small businesses. The pandemic hit small firms the hardest, resulting in the most significant in business ownership in U.S. history. Facing an unprecedented wave of small business closures, Congress acted by creating economic relief programs to help businesses stay afloat through the crisis. Since the passage of the CARES Act, ... Read more »
Thank you all for being here today for the first hearing of the Subcommittee on Contracting and Infrastructure for the 117th Congress. For our opening hearing, I thought it was important to examine an issue that is a priority for government contractors: the interplay between the Federal Acquisition Regulations (the FAR) and the Paycheck Protection Program (PPP). The FAR serves as the primary set o... Read more »
I’m proud to serve as Chair of this critical subcommittee. Underserved, agricultural, and rural small businesses have experienced some of the harshest outcomes of the COVID-19 pandemic. The road to recovery they face is long, and we must ensure we advance policy that prioritizes them, so they are not left behind. I hope to use this subcommittee’s first hearing during the 117th Congress to examine ... Read more »
