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Oversight, Investigations, and Regulations

Phillips Pushes Transparency in Small Business FinTech Lending

| Posted in Press Releases

Washington, D.C.— Today, the House Small Business Committee Subcommittee on Oversight, Investigations, and Regulations held a hearing examining the current state of small business fintech lending. Chairman Dean Phillips (D-MN) gathered lenders and small business stakeholders to testify on the advantages of fintech lending as well as the risks posed to small businesses in the rapidly evolving space...

Statement of the Hon. Dean Phillips on Fintech and Transparency in Small Business Lending

| Posted in Statements

Increasing the flow of capital to American small businesses is one of this committee’s foundational goals. When entrepreneurs can secure financing on reasonable terms, they create jobs, expand their business, and move the economy forward. Unfortunately, most American business owners feel they can’t adequately access capital. According to a 2022 Federal Reserve Survey, 59% of Small Employer Firms s...

Statement of Hon. Dean Phillips on An Empirical Review of the Paycheck Protection Program

| Posted in Press Releases

Nearly two years ago, the rapid spread of COVID-19 was wreaking havoc on small businesses across the country. As people stayed home to slow the spread of the virus, business for many small firms grounded to a halt. This was a time of tremendous uncertainty. Small businesses of all shapes and sizes began to wonder how long they could continue paying their rent, employees, and other key expenses. Co...

Phillips Gathers Experts to Examine Paycheck Protection Program’s Effectiveness

| Posted in Press Releases

Washington, D.C.— Today, the House Small Business Committee Subcommittee on Oversight, Investigations, and Regulations under Chairman Dean Phillips (D-MN) held a hearing examining the landmark Paycheck Protection Program (PPP) and its effectiveness in delivering relief to small businesses. The hearing featured testimony from leading academics and government officials on their research into the for...

Statement of the Hon. Dean Phillips on Global Supply Chains and Small Business Trade Challenges

| Posted in Press Releases

I wish to start by thanking our distinguished witnesses for joining us today for this vital hearing on the state of the global supply chain and its impact on small businesses. The ongoing COVID-19 pandemic is a once-in-a-generation crisis that has created massive economic challenges for businesses and consumers alike. An extraordinary increase in demand for goods has exacerbated the many weaknesse...

Phillips Surveys Impact of Global Supply Chain Issues on Small Businesses

| Posted in Press Releases

Washington, D.C.— Today, Subcommittee on Oversight, Investigations, and Regulations Chairman Dean Phillips (D-MN) held a hearing examining the impact of global supply chain issues on American small businesses. The hearing occurred in the wake of product shortages and shipping delays around the world that have affected the day-to-day operations of small firms. “The complexities of the global supply...

Phillips Explores Role of Small Businesses in Combating Climate Crisis

| Posted in Committee News

Washington, D.C.— Today, Rep. Dean Phillips (D-MN), Chairman of the Subcommittee on Oversight, Investigations, and Regulations, held a hearing examining the role of the Small Business Administration (SBA) and small firms in fighting climate change. In 2021, historic floods, record temperatures, and blazing wildfires have wreaked havoc on communities, posing a significant threat to small businesses...

Statement of the Hon. Dean Phillips on CMMC Implementation: What It Means for Small Businesses

| Posted in Statements

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...

Phillips Works to Optimize DOD Cyber-Security Preparedness Initiative for Small Contractors

| Posted in Press Releases

Washington, D.C.— Today, the House Small Business Committee Subcommittee on Oversight, Investigations, and Regulations, led by Chairman Dean Phillips (D-MN), held a hearing examining the Cybersecurity Maturity Model Certification (CMMC). The CMMC is the Department of Defense's (DOD) latest initiative to increase cybersecurity preparedness across the defense industrial base (DBI). The hearing gathe...

Phillips Conducts Oversight of SBA Pandemic Grant Programs

| Posted in Press Releases

Washington, D.C.— Today, the House Small Business Committee Subcommittee on Oversight, Investigations, and Regulations, led by Chairman Dean Phillips (D-MN), held a hearing focused on assessing the implementation and effectiveness of the Small Business Administration’s (SBA) pandemic related grant programs. The hearing gathered small business owners and stakeholders to testify on their experience ...

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