| Weekly Update from Sam |
| Dear Friends,
A report issued Tuesday by the nonpartisan Congressional Budget Office (CBO) confirmed that the health care law is slowing the economy, adding to the national debt, costing jobs and even reducing wages and work hours. The total cost of the health care law to taxpayers is soaring, now at $2 trillion over ten years.
The Washington Post called this nonpartisan report a game changer. It moves the debate far beyond the concerns about the unprepared bureaucracy, the botched rollout and the failure to construct a secure, reliable website. These are just the tip of the Obamacare iceberg. This report shows that the widespread damage of this law is not contained to the millions of Americans who lost health care plans, because every American has a stake in the economic consequences and the nation’s fiscal health. The economic growth lost at the hands of this ill-conceived law is staggering.
A new report Thursday from the National Association of Small Businesses revealed that 91 percent of small business health care costs are rising, and one in four report report cost increases of at least 20 percent. Small businesses, which are off to a slow start in 2014, are vulnerable to the economic uncertainty and higher costs from this law, and they will be better off when this disastrous law is repealed and replaced.
Sincerely,
Sam Graves
Chairman
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Latest Committee Action
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On Wednesday, the Committee examined the impact of federal regulations on the myriad small businesses involved in general aviation, and addressed ways to improve the Federal Aviation Administration’s (FAA) regulatory framework. The hearing examined regulations that are increasing costs or stifling growth for small businesses, and ways to improve the FAA’s adaptation to technological advancements in the general aviation industry, as reported here and here. Chairman Graves is a pilot and Co-Chair of both the House General Aviation Caucus and the Congressional Pilots Caucus.
On Thursday, the Subcommittee on Agriculture, Energy and Trade, led by Chairman Scott Tipton (R-CO), held a hearing to analyze the overlap and duplication among guaranteed loan programs operated by the United States Small Business Administration (SBA) and the United States Department of Agriculture (USDA). Both agencies provide guarantees for loans to businesses in rural areas, but the Government Accountability Office found the overlap of these programs to be an inefficient use of scarce government resources. The hearing examined duplication among the SBA 7(a) Loan Program, the SBA 504 Loan Program, and the USDA Business and Industry Loan Program.
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News from Washington
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On Wednesday, the House passed a bill to provide drought relief to California farmers devastated by severe drought conditions, exacerbated by federal and state environmental regulations. The Sacramento-San Joaquin Valley Emergency Water Delivery Act (H.R. 3964) restores water deliveries to parched areas in the Central Valley, which is known for supplying abundant fruit and vegetable crops.
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| Stay Plugged In |
Be sure to check out the House Small Business Committee on Facebook, YouTube and Twitter for all the latest in Small Biz news and resources and to join the conversation. We value your input, so tell us about your small business on our interactive website Small Biz Open Mic.
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| February 7, 2014 |
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| What We're Reading |
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Small Biz Resources
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| Tweet of the Week |
@SmallBizGOP The President's former Energy Sec says decision on #KeystoneXL is political and not scientific #4jobs http://j.mp/1e1kqf8 #YearofAction
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