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House Committee on Small Business Holds Markup on Five Bills

WASHINGTON, D.C. ÔÇô Today, the House Committee on Small Business is holding a full committee markup on five bills. This development comes at a crucial time when small businesses across the country are struggling due to the Biden AdministrationÔÇÖs economic policies.

Chairman Roger WilliamsÔÇÖ opening statement as prepared for delivery:

Good morning, and welcome to todayÔÇÖs markup where weÔÇÖll be discussing five bills that address the various needs of our nationÔÇÖs small businesses. The continued hardships faced by small businesses demand our attention, and as this Committee, it is our responsibility to represent their concerns in Congress.

To safeguard the engines of our economy, we need policies that support small businesses rather than suffocate them. The current administration’s regulatory measures have led our Main Street businesses towards obscurity, and we must counteract this trend.

The bills before us today stem from comprehensive hearings and oversight efforts carried out by this Committee. I take pride in the fact that we are formulating solutions to hold accountable those who exploited small business lending programs during the pandemic, as well as simplifying the process for reporting COVID-related fraud. Though there is still much to be achieved, it is encouraging to witness new ideas and potential remedies being brought forth for Main Street America.

I am particularly grateful to see my colleagues introduce bills that cater to the unique challenges faced by rural entrepreneurs. Many of us on this Committee frequently hear from our constituents who were unaware of the resources available to the rural small business community.

Moreover, while I appreciate the bills being marked up today, I had hoped to include legislation to reinstate the guardrails on the SBAÔÇÖs 7(a) lending program. Nonetheless, our dedicated staff members have been diligently tackling this complex issue, and I remain optimistic that we will reach an agreement soon. This agreement should ensure the durability of the 7(a) program, protect taxpayers from unwarranted risks, and position the SBA as a lender of last resort to avoid competition with the private sector.

In conclusion, I extend my gratitude to our members for bringing these bills to the table. They exemplify the diligent work we undertake as a Committee on behalf of our nationÔÇÖs entrepreneurs and innovators. I also want to express my appreciation to the Ranking Member and her staff for their collaboration in crafting bipartisan solutions for Main Street.

With that said, I eagerly anticipate today’s markup, and I yield to the distinguished Ranking Member from New York, Ms. Velasquez.

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