| Weekly Update from Sam |
| Dear Friends,
The nonpartisan Congressional Budget Office (CBO) projects that this year the United States will spend $233 billion solely to pay interest on the national debt. By 2024, interest payments could devour a crippling $880 billion out of the budget. That’s a crisis. Take a look at this chart that the Senate Budget Committee Republicans put together from the CBO’s report. The $17.5 trillion national debt not only imposes a heavy burden on the coming generations of Americans, but it’s a fiscal burden on small businesses and the economy now.
This week, the Committee examined the Small Business Administration’s proposed budget, and recommended $50 million in savings. Despite the debt burden, the President’s budget for the SBA still proposes new spending for unproven programs that duplicate other services. Instead, the SBA should renew their commitment to the foundational services that benefit small businesses the most, and cut waste. Every federal agency should do their part to reduce the deficit and get the economy back on track. It’s time for the thinking at federal agencies to shift from spending to saving.
Sincerely,
Sam Graves
Chairman
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Latest Committee Action
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On Tuesday, the Committee conducted a markup and passed its Views and Estimates on the Fiscal Year 2015 budget for the Small Business Administration (SBA). Each year, the Committee examines the SBA’s budget request, and lays out the Committee’s recommendations to allocate taxpayers’ dollars in a way that will improve the performance of the SBA and without diminishing services provided to small businesses. This year, the Committee identified wasteful duplications in SBA operations and recommends correcting that by eliminating $39 million in new spending for unproven and duplicative SBA-created entrepreneurial training initiatives. The Committee also proposes eliminating two outreach offices that provide services available from other government agencies with greater resources to save about $14 million.
On Wednesday, the Subcommittee on Contracting and Workforce, under the chairmanship of Rep. Richard Hanna (R-NY), examined the impact of burdensome occupational licensing laws on job seekers and entrepreneurs. As the economy and employment situation remain sluggish, many unemployed and underemployed Americans are considering starting their own business or using a skill or talent to earn an income. However, for many of these workers, potentially costly and burdensome licensing requirements are presenting a significant barrier to economic opportunity.
In case you missed it, we’ve updated our “Small Biz Reg Watch” online resource. This webpage is a tool intended to alert small businesses of federal regulations that could affect them and encourage them to weigh in while those proposed rules are still in the pipeline so that changes can be made and final regulations will be less burdensome and more practical.
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News from Washington
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On Tuesday, the House passed the Preventing Government Waste and Protecting Coal Mining Jobs in America Act (H.R. 2824) to protect jobs and reduce the damage of the Obama administration’s regulatory onslaught that targets coal and other energy development. The United States is best served by a comprehensive energy policy that includes production of various energy sources to protect the economy and lower costs.
This week, House Republicans launched a website to keep you apprised of legislation and other activities in response to the Internal Revenue Service’s targeting of various groups and organizations. House Republicans are seeking answers from the IRS, and working to ensure the nation’s tax-collecting agency will be just that in the future, and not a political entity. Follow this issue at http://www.gop.gov/irs.
On Thursday, the House passed the bipartisan Ukraine Support Act (H.R. 4278). The bill expresses support for Ukraine – a sovereign nation that has suffered aggressive territorial encroachment from Russia – and provides President Obama with more tools to give aid to Ukraine and economically sanction Russia.
Also on Thursday, by voice vote, the House passed the bipartisan Protecting Access to Medicare Act (H.R. 4302), a temporary measure to prevent a 24 percent rate cut for physicians that had been scheduled this year. Two weeks ago, the House passed a long term reform bill, but this week’s legislation protects America’s seniors while that reform awaits Senate action. Any loss of physicians serving Medicare patients could cause a delay or interruption in care for seniors, particularly in rural areas, small towns and other underserved communities.
Finally, on Thursday, the U.S. Senate approved Maria Contreras-Sweet as the new SBA Administrator, filling a lengthy vacancy – the last Cabinet post filled in the President’s second term. When she was nominated in January, Chairman Graves released a statement that expressed the hope she can become a voice for small businesses that’s lacking within the Administration.
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Notable Op-Eds
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| March 28, 2014 |
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| What We're Reading |
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Small Biz Resources
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| Tweet of the Week |
@RepRichardHanna In @SmallBizGOP hair braiding entrepreneur talks about being stymied by govt licensing law for no good reason. Get govt out of way #4jobs.
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