Friends:

Growing up in a family business, I learned that it’s virtually impossible to meet your obligations and stay out of debt without a responsible budget.  Unfortunately, something as big as a budget doesn’t seem to be as important in Washington as it is on Main Street. 

Every April 15th, while Americans are busy making sure they’ve filed their taxes and paid their debts to the government, Congress and the Administration are supposed to have adopted a federal budget.  But this year, President Obama and Majority Leaders have been too focused on implementing their job-killing, tax-hiking government takeover of health care to worry about budgets and debt.   What’s worse, some reports indicate that House leaders may choose not to bring a budget to the floor at all this year.

We will be standing on the edge of a fiscal crisis of historic proportions if Congress and the Administration do not act quickly to implement a budget and get our fiscal house in order.   It is past time to act responsibly in Washington and make the same tough budgeting decisions that the American people must make every month.

Sam Graves

News from the Small Business Committee:
(Please send any Member media activity to Alexandra.Haynes@mail.house.gov)

• On Monday, April 19th, Rep. Vern Buchanan (R-FL) will hold a field hearing to explore small business access to capital in Sarasota, Florida.

• Rep. Roscoe Bartlett (R-MD) invites small business owners to his procurement workshop about doing Business with the National Security Agency (NSA) and their Prime Contractors on April 26th.

• Rep. Steve King (R-IA) will hold two town halls on April 19th.

•Rep. Lynn A. Westmoreland (R-GA) released a statement on Tax Day.

• Rep. Mary Fallin (R-OK) calls for “Fiscal Discipline and Tax Relief.”

• Rep. Vern Buchanan demands “Fundamental Tax Reform” and released a video called “Tax Day Commitment.”

• Rep. Blaine Luetkemeyer (R-MO) released a statement entitled, “Tax Day Warning: Families Should Guard Checkbooks As Tax Increases Loom.”

• Rep. Blaine Luetkemeyer also wrote a column about the impending tax increases that small businesses are facing.

• Rep. Mike Coffman (R-CO) says “Tax Day is Reminder of Need for Balanced Budget Amendment.”

House Small Business Committee Action:

• On Wednesday, April 14th, the House Small Business Committee held a hearing entitled, “Entrepreneurs and Tax Day:  How IRS Policies and Procedures Impact Small Businesses.”

• The hearing examined Internal Revenue Service (IRS) policies on non-compliant taxpayers, customer service, and the administration of recent tax policies affecting small businesses. IRS Commissioner Douglas Shulman testified at the hearing and answered Members’ questions on IRS issues.

• Read more about the hearing and what was discussed by clicking here.  Click here to watch video footage of House Small Business Committee Republicans' question and answer sessions with Commissioner Shulman.

Updates from Washington:
(Please send any Member initiatives related to small business and job creation to Paul.Sass@mail.house.gov)

• Legislation to reform the nation’s financial regulatory system is now expected on the Senate floor next week, despite Republican efforts to craft a bipartisan compromise bill.  Republicans have expressed strong concerns that the current bill would allow endless taxpayer bailouts of Wall Street banks and massively expand the role of the Federal Reserve.  Republicans have offered a common sense regulatory reform plan that will end bailouts, protect investors and taxpayers, and hold Wall Street responsible for its actions.

• Today, the President signed into law a short-term extension of several federal programs, including unemployment benefits, COBRA health insurance subsidies, and higher payments for physicians who treat Medicare patients.  Additionally, the new law appropriates $80 million to continue offering reduced fees on the Small Business Administration (SBA) 7(a) loan program. Most of the provisions included in the legislation now extend through the end of May, except the unemployment benefits, which last until June 2nd.        

 News and Resources for Small Business Owners:

• The NFIB released the Small Business Economic Trends for April.

• The Heritage Foundation published a report entitled, “Obamacare: Impact on Taxpayers.”