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Small Business Committee Newsletter Printer Friendly Version
Small Business Committee Notes
Friday, March 10, 2006 Printer Friendly Version
Small Business Committee Notes March 10, 2006 -- Issue 109-37 Phil Eskeland, Policy Director, House Committee on Small Business _______________________________ TF&E Subcommittee hearing on the Finance Programs of the SBA On Thursday, March 9, the Tax, Finance & Exports Subcommittee, chaired by Representative Jeb Bradley (R-NH) held an oversight hearing on the finance programs of the SBA. Below is a copy of Chairman Bradley’s opening statement: “I am pleased to be working closely with my colleagues as we review the current state of the finance programs of the Small Business Administration and I look forward to hearing the recommendations made by our witnesses in this regard… Access to capital is a vital element in the success of any venture and the knowledge of where to find such resources is equally essential. Accordingly, one of the key roles of the Small Business Administration is to provide financial assistance to American small businesses. Small businesses are responsible for more than half of the United States’ Gross Domestic Product and the finance programs available at the Small Business Administration are vital to the development and expansion of those small businesses. SBA financial assistance is delivered through investment programs, loan programs, and bonding for contractors, among other approaches. It is through these programs that small businesses are able to obtain the means to grow, create more jobs, increase revenue, and help to strengthen our economy. Over the years, the SBA and its methods of assistance in the strengthening of the small business sector of our economy have undergone some changes and improvements. Today we have the opportunity to hear the comments and recommendations of those who are the frontline of these programs in order to better understand the demands of the small business sector and to continue our support in the most efficient and economical manner possible. The President’s Budget for Fiscal Year 2007 funds small business lending at $28 billion. $17.5 billion of that funding would go to guaranteed loan volume under the 7(a) loan guarantee program. The Section 504 loan program, which provides guaranteed loans for fixed assets such as land, equipment, and buildings, would receive $7.5 billion, and guaranteed long-term loans for venture capital investments in small businesses as a supplement to the capital of Small Business Investment Companies would be allocated $3 billion. Congress must continue to enable small businesses to access the capital needed to expand and prosper. The input of those working closely with these small businesses is vital to this Committee as it moves forward with SBA reauthorization, and with your testimony today we can help create an environment that fosters the growth and development of American small businesses. I am looking forward to hearing the testimony from our witnesses here today and I look forward to their thoughts on this extremely important topic.” For further information, please contact Adam Noah Counsel. _______________________________ Issues in Brief On Wednesday, March 15, the Senate Health, Education, Labor, and Pensions (HELP) Committee began to “mark-up” a version of Association Health Plans (AHPs), legislation introduced by HELP Committee Chairman, Senator Mike Enzi of Wyoming (S. 1955). S. 1955 would make it easier for small businesses to band together to offer health insurance. However, insurers who offer these plans would be required to provide at least one plan that matches the benefits offered to state employees of one of the five most populous states (California, Texas, New York, Florida, and Illinois). The bill would also make AHPs available to all insurers, not just those that service the small business market. With 68 Democrat amendments pending, the mark-up was not able to be completed last Wednesday but will continue on Wednesday, March 15. _______________________________ Upcoming Events Wednesday, March 15 10:00AM – Rural Enterprises, Agriculture, and Technology (REA&T) Subcommittee hearing entitled, “The Missouri River and its Spring Rise: Science or Science Fiction?” For further information, please contact Piper Largent, Professional Staff. Wednesday, March 15 2:00PM – full committee hearing on the Fiscal Year 2007 Budget and Reauthorization Proposals of the Small Business Administration (SBA). For further information, please contact Phil Eskeland, Policy Director. Thursday, March 16 2:00PM – Regulatory Reform and Oversight (RR&O) Subcommittee hearing entitled, “The State of Small Business Security in a Cyber Economy.” For further information, please contact Chris Szymanski, Professional Staff. Week of March 19 is the St. Patrick’s Day District Work Period. The House will not return to session until Tuesday, March 28th. _________________________________ Past hearings/mark-ups/roundtables/meetings in 2006 February 1, 2006 – Tax, Finance & Exports (TF&E) and REA&T joint subcommittee hearing on “Transforming the Tax Code: An Examination of the President’s Tax Reform Panel Recommendations.” February 8, 2006 – RR&O Subcommittee hearing on “The Internet Sales Tax: Headaches Ahead for Small Business?” March 2, 2006 – Workforce, Empowerment & Government Programs Subcommittee (WE&GP) hearing on the “Oversight of the Small Business Administration’s Entrepreneurial Development Programs.” March 8, 2006 – TF&E Subcommittee hearing on the “Oversight of the Small Business Administration’s Finance Programs.” _____________________________ Small Business Website Check out the Small Business Committee website at http://www.house.gov/smbiz. The site includes regular updates on small business committee news. The site features special projects, press releases, hearings and scheduling information. _______________________________ Phil Eskeland Deputy Chief of Staff & Policy Director House Committee on Small Business Phil.Eskeland@mail.house.gov (202) 225-5821 To contact any staff member listed in the above newsletter, please use the general number for the House Small Business Committee – (202) 225-5821. Please E-mail me if you want to be removed from the mailing list or if you know of others who might be interested in receiving this publication. Mission Statement of the House Committee on Small Business "We promote the success of America’s small businesses by leveling the global economic playing field and reducing domestic burdens that impede their growth. In this spirit, we work to ensure that every branch of the U.S. government understands the critical role America’s small businesses play – both at home and abroad – including the jobs they create and the spirit of entrepreneurship they embody.”
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