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 »
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 »
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 »
Washington, D.C.— Today, the House Small Business Committee Subcommittee on Economic Growth, Tax, and Capital Access, led by Chairwoman Sharice Davids (D-KS), held a hearing examining the impact of COVID-19 on domestic supply chains and the role of small manufacturers in strengthening them. “Small manufacturers have played a critical role during the pandemic, pivoting quickly to support our commun... Read more »
We are meeting today to conduct an important hearing on the Small Business Administration’s Paycheck Protection Program, or “PPP,” and specifically, a review of the loan forgiveness process.I want to thank each of the witnesses for their testimonies today. Over the past several months, this Committee has held numerous hearings on the PPP, and we’ve heard from borrowers and lenders about the challe... Read more »
Washington, D.C.- Today, the House Small Business Subcommittee on Economic Growth, Tax, and Capital Access, led by Rep. Andy Kim (D-NJ), inspected issues related to the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) loan forgiveness process. Small business owners and lenders testified on problems they have encountered while navigating the loan forgiveness process. “Loan fo... Read more »
Washington, D.C.— Today, the House Small Business Committee Subcommittee on Economic Growth, Tax, and Capital Access heard testimony from small business owners and experts about the impact of the COVID-19 crisis on small business supply chains. Since the onset of the pandemic, many small business supply chains have been disrupted, exposing long-standing vulnerabilities in the way that firms acquir... Read more »
Washington, D.C.— Yesterday, Rep. Andy Kim (D-NJ), Chair of the House Small Business Subcommittee on Economic Growth, Tax, and Capital Access, convened a panel of experts from the economic development field to examine the role of Opportunity Zones in the small business economy. In 2017, Opportunity Zones were created with the intention of spurring capital investment in economically disadvantaged a... Read more »
One of the most important goals of this Subcommittee is to assure that small businesses are equipped with the tools they need to grow, create new jobs, and generate wealth in their communities. No matter where a business decides to set up shop, whether it’s in the middle of a large metropolis, or on main street in a rural town, every business needs a plan. From determining a location, to finding w... Read more »
On this Subcommittee, we are focused on making sure that small businesses, whether in my district in New Jersey—in Ranking Member Hern’s district in Oklahoma, and in every other district across America, can access the capital they need to start, grow, and create new jobs.And we know that when capital is affordable and accessible, small businesses can do what they do best, strengthen our communitie... Read more »
