I want to thank Administrator Guzman for appearing before the committee today. When your tenure began, small businesses were experiencing a once-in-a-lifetime crisis. Since your confirmation, you and the staff at SBA have worked tirelessly to stand up new programs, institute new protections against fraud, and handle unprecedented demand for traditional SBA programs.
Today, the worst of… Read more »
I’d like to start off by recognizing Congresswoman Tenney, who is here today for her first hearing as Ranking Member of this subcommittee.
Like me, Rep. Tenney represents a primarily rural district, so I look forward to working with her to help rural and other underserved small businesses. Today, the Committee will examine the management and operations of the Small Business… Read more »
The onset of the COVID-19 pandemic created one of the most significant upheavals in the history of the American labor force. Between February and April of 2020, the U.S. economy shed 22 million jobs, and the unemployment rate skyrocketed from 3.5% to 14.8%.
Congress stepped in to pass the CARES Act, stopping the economy’s freefall and providing support throughout the pandemic. This… Read more »
The COVID-19 pandemic highlighted long-standing inequities in the small business lending market. In March of 2020, Congress stepped in to support small businesses through the Paycheck Protection Program. Under PPP, banks and other private lenders made fully guaranteed SBA loans to small businesses hurt by the virus.
Over the life of the program, PPP delivered over $800 billion in… Read more »
Thank you to everyone for being here for this timely hearing. Today, we’ll be discussing the SBIR and STTR programs, two of the federal government’s most important initiatives when it comes to driving innovation. This is our third in a series of hearings on this topic.
SBIR and STTR create partnerships between federal agencies, public research institutions, and our nation’s best and… Read more »
Thank you to all our witnesses for joining us today.
Throughout our history, small businesses, especially those owned by socially and economically disadvantaged individuals, have faced real challenges when it comes to participating on equal footing in the American economy, and specifically in the federal procurement space. Disadvantaged businesses often navigate obstacles like… Read more »
For generations, achieving the American dream and starting a business have gone hand in hand. Millions of Americans have utilized entrepreneurship to support their communities and create better lives for their families.
Business owners may start small, but the goal is almost always to grow the enterprise, reach more customers, and hire more employees. As these firms evolve, they build… Read more »
Last November, President Biden signed the bipartisan Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law. The law allocates $550 billion in new funds for transportation infrastructure projects, supply chain improvements, broadband expansion, and water system upgrades. This represents the most significant investment in American infrastructure since the… Read more »
First, thank you to all our witnesses for being here today. It’s a pleasure to have such a talented and accomplished group of witnesses representing the arts sector. As you can see, I am sitting in for Chairwoman Velázquez who was unable to chair this hearing today.
The arts sector employs nearly 5.2 million Americans and contributes $919 billion to the economy annually. In my… Read more »
First, I’d like to welcome Inspector General Ware. Thank you for being here today. Your work has been indispensable throughout the COVID crisis, and you should be proud of your efforts to improve programs critical to small businesses.
The IG’s office is tasked with reporting on the top management and performance challenges facing the Small Business Administration every year. While this… Read more »
