| Weekly Update from Sam |
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Dear Friends,
This week I joined with Agriculture, Energy and Trade Subcommittee Chairman Scott Tipton (R-CO) in sending a letter to U.S. Department of Agriculture Secretary Tom Vilsack calling on him to comply with the Regulatory Flexibility Act (RFA) in regards to the proposed Grain Inspection, Packer and Stockyards Administration (GIPSA) rule on livestock marketing practices, which if adopted, would harm thousands of small family farms.
Studies have shown that if the proposed rule is adopted, it will reduce the GDP by just over $1.5 billion and cost the U.S. economy nearly 23,000 jobs.
This rule would be extremely damaging to small farms, kill jobs and hamper competition across the country. With our economy still in turmoil, proposals such as this would only further strangle small businesses and delay a full economic recovery. As a small farmer myself, I know firsthand the detrimental effects of unnecessary federal regulations.
At a time of nine percent unemployment, we should be looking for every avenue possible to create jobs by removing burdensome regulations and eliminating unnecessary costs on small businesses.
Sam Graves
Chairman
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Latest Committee Action
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On Tuesday, Investigations, Oversight and Regulations Subcommittee Chairman Mike Coffman (R-CO) held a hearing to explore the Federal Motor Carrier Safety Administration’s (FMCSA) proposed new Hours of Service rules for the trucking industry. Not only will the proposed requirements delay the efficiency of the American transportation system, it would also place an enormous financial burden on the trucking industry to the tune of $2.5 billion annually if they are finalized.
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On Wednesday, House Small Business Committee Chairman Sam Graves (R-MO) held a full committee hearing to examine two bills designed to ensure that federal agencies comply with the Regulatory Flexibility Act (RFA). Graves introduced the Small Business Size Standard Flexibility Act of 2011 (H.R. 585) and also joined with House Judiciary Chairman Lamar Smith (R-TX) to introduce the Regulatory Flexibility Improvements Act of 2011 (H.R. 527) in February. Both bills will strengthen the RFA and help to ensure it is no longer ignored by the administration.
On Thursday, Economic Growth, Capital Access and Tax Subcommittee Chairman Joe Walsh (R-IL) held a hearing on the Dodd-Frank Act to examine its impact on small business lending and small financial institutions. The new regulatory environment created by Dodd-Frank has caused uncertainty among both bankers and business owners, which leads to less lending to small business and less desire to take on additional capital.
Next week, the Committee will hold two hearings, including one on Wednesday with Treasury Secretary Timothy Geithner that will examine the current state of small business access to equity capital and debt financing. On Thursday, a hearing entitled, Insourcing Gone Awry: Outsourcing Small Business Jobs, will examine the implementation of the Administration’s insourcing policies, and the effect of these policies on small businesses.
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News From Washington
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Currently, the House is working through the appropriations bills for Fiscal Year 2012 which begins on October 1, 2011.
On Tuesday, the House passed the Military Construction Appropriations (H.R. 2055) bill 411-5. The bill includes a total of $72.5 billion in discretionary funding, which is $615 million below last year’s level and $1.2 billion below the President’s Fiscal Year 2012 request.
On Thursday, the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act was approved 217-203. The bill saves $2.67 billion— which is 13 percent below the FY 2011 funding level and $5.03 billion below the President’s request.
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Notable Op-eds
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Repeal 3% Withholding of Small-Business Payments
Stop punishing small businesses
By: Rep. Sam Graves and Rep. Mick Mulvaney
Proposed Law for Gunmakers Misses Target
By: Richard Hanna (R-NY)
Technology Requirements Burden Small Medical Practices
By: Rep. Renee Ellmers (R-NC)
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| June 17, 2011 |
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| What We're Reading |
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| Small Biz Resources |
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