Advances in technology have created countless benefits for small businesses and consumers. Today, entrepreneurs can sell their offerings globally and customers have more access to the products and services they want than ever. At the same time, increased technological adoption has created unintended consequences that are harming entrepreneurs, particularly in rural communities like the one I repre... Read more »
Last November, President Biden signed the $1.2 trillion Bipartisan Infrastructure Bill into law. The package culminated years of work to reverse decades of underinvestment and revitalize American infrastructure. This effort represents the most significant investment in America’s infrastructure in generations. The funds outlined in the bill, include $550 billion in new spending, which will help reb... Read more »
In the rural areas that make up most of my district, the benefits of small businesses go much further than jobs and a tax base. They also provide community. I’ve seen it with my parents’ small business, where you can often find folks from all over Leeds and the surrounding towns coming together to catch up, shoot the breeze, and check in on one another. Small businesses across rural America are es... Read more »
In 1997, Congress created the Historically Underutilized Business Zone program, also known as the HUBZone program, as part of the Small Business Reauthorization Act. The program was intended to provide small businesses in economically distressed areas with greater access to federal procurement opportunities. This is a worthy goal. The US government is the largest purchaser of goods and services, a... Read more »
Increasing the flow of capital to American small businesses is one of this committee’s foundational goals. When entrepreneurs can secure financing on reasonable terms, they create jobs, expand their business, and move the economy forward. Unfortunately, most American business owners feel they can’t adequately access capital. According to a 2022 Federal Reserve Survey, 59% of Small Employer Firms s... Read more »
When a small firm wins a federal contract, it creates a ripple effect that creates jobs, invests in communities, and generally boosts the economy. The presence of small firms also helps drive innovation nationwide and competition in the federal marketplace. Congress recognized these benefits in 1953, when they created the Small Business Administration and tasked the agency with ensuring that a fai... Read more »
Ensuring access to federal contracting opportunities is one of this committee’s core priorities. Winning federal contracts allows small firms to create jobs, grow their businesses, and invest in their communities. That’s why the recent decrease in the number of small firms doing business with the government is so concerning. From 2010 to 2019, the number of small companies providing common goods a... Read more »
More than 200,000 service members transition from military to civilian life every year. These veterans take skills gained during their service and go on to make a substantial impact across many areas of American life. Some go to school, some pursue new vocations in the private sector, and many go on to start small businesses. As members of this committee know, starting a small business isn’t for t... Read more »
The U.S. aviation and aerospace industry is crucial to our national economy and national defense capabilities. From commercial airliners to telecommunications satellites, the aerospace industry touches the lives of countless Americans every day. The industry also provides meaningful employment to over 2 million workers. These are good-paying jobs that allow workers to further their careers and sup... Read more »
I want to thank Administrator Guzman for appearing before the committee today. When your tenure began, small businesses were experiencing a once-in-a-lifetime crisis. Since your confirmation, you and the staff at SBA have worked tirelessly to stand up new programs, institute new protections against fraud, and handle unprecedented demand for traditional SBA programs. Today, the worst of the pandemi... Read more »
