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| <title> - VIEWS AND ESTIMATES OF THE SMALL BUSINESS COMMITTEE FOR FY 2020</title> | |
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| [House Hearing, 116 Congress] | |
| [From the U.S. Government Publishing Office] | |
| VIEWS AND ESTIMATES OF THE SMALL BUSINESS COMMITTEE FOR FY 2020 | |
| ======================================================================= | |
| HEARING | |
| BEFORE THE | |
| COMMITTEE ON SMALL BUSINESS | |
| UNITED STATES | |
| HOUSE OF REPRESENTATIVES | |
| ONE HUNDRED SIXTEENTH CONGRESS | |
| FIRST SESSION | |
| __________ | |
| HEARING HELD | |
| MARCH 6, 2019 | |
| __________ | |
| [GRAPHIC NOT AVAILABLE IN TIFF FORMAT] | |
| Small Business Committee Document Number 116-008 | |
| Available via the GPO Website: www.govinfo.gov | |
| __________ | |
| U.S. GOVERNMENT PUBLISHING OFFICE | |
| 35-261 WASHINGTON : 2019 | |
| ----------------------------------------------------------------------------------- | |
| For sale by the Superintendent of Documents, U.S. Government Publishing Office, | |
| http://bookstore.gpo.gov. For more information, contact the GPO Customer Contact Center, | |
| U.S. Government Publishing Office. Phone 202-512-1800, or 866-512-1800 (toll-free).E-mail, | |
| <a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="baddcad5fad9cfc9ced2dfd6ca94d9d5d7">[email protected]</a>. | |
| HOUSE COMMITTEE ON SMALL BUSINESS | |
| NYDIA VELAZQUEZ, New York, Chairwoman | |
| ABBY FINKENAUER, Iowa | |
| JARED GOLDEN, Maine | |
| ANDY KIM, New Jersey | |
| JASON CROW, Colorado | |
| SHARICE DAVIDS, Kansas | |
| JUDY CHU, California | |
| MARC VEASEY, Texas | |
| DWIGHT EVANS, Pennsylvania | |
| BRAD SCHNEIDER, Illinois | |
| ADRIANO ESPAILLAT, New York | |
| ANTONIO DELGADO, New York | |
| CHRISSY HOULAHAN, Pennsylvania | |
| ANGIE CRAIG, Minnesota | |
| STEVE CHABOT, Ohio, Ranking Member | |
| AUMUA AMATA COLEMAN RADEWAGEN, American Samoa, Vice Ranking Member | |
| TRENT KELLY, Mississippi | |
| TROY BALDERSON, Ohio | |
| KEVIN HERN, Oklahoma | |
| JIM HAGEDORN, Minnesota | |
| PETE STAUBER, Minnesota | |
| TIM BURCHETT, Tennessee | |
| ROSS SPANO, Florida | |
| JOHN JOYCE, Pennsylvania | |
| Adam Minehardt, Majority Staff Director | |
| Melissa Jung, Majority Deputy Staff Director and Chief Counsel | |
| Kevin Fitzpatrick, Staff Director | |
| C O N T E N T S | |
| OPENING STATEMENTS | |
| Page | |
| Hon. Nydia Velazquez............................................. 1 | |
| Hon. Steve Chabot................................................ 2 | |
| APPENDIX | |
| Additional Material for the Record: | |
| Committee's Views and Estimates.............................. 4 | |
| MARKUP OF: VIEWS AND ESTIMATES OF THE SMALL BUSINESS COMMITTEE FOR FY | |
| 2020 | |
| ---------- | |
| WEDNESDAY, MARCH 6, 2019 | |
| House of Representatives, | |
| Committee on Small Business, | |
| Washington, DC. | |
| The committee met, pursuant to call, at 10:50 a.m., in Room | |
| 2360, Rayburn House Office Building. Hon. Nydia Velazquez | |
| [chairwoman of the committee] presiding. | |
| Present: Representatives Velazquez, Finkenauer, Kim, | |
| Davids, Golden, Crow, Veasey, Evans, Delgado, Houlahan, Chabot, | |
| Radewagen, Kelly, Balderson, Hern, Hagedorn, Stauber, Burchett, | |
| and Joyce. | |
| Chairwoman VELAZQUEZ. Good morning. The Small Business | |
| Committee will come to order. | |
| Today's order of business is to consider the Views and | |
| Estimates of the Committee on Small Business for fiscal year | |
| 2020. These resources are a critical first step in helping | |
| entrepreneurs start and grow their business and in aiding | |
| established businesses to leverage their experience to invest | |
| in their business and employees. | |
| I will admit that we are again considering our views and | |
| estimates before there is a proposed budget provided from the | |
| Administration. Unfortunately, this is becoming all too common. | |
| Nevertheless, we are here to set our priorities and | |
| expectations for fiscal year 2020 to ensure the Small Business | |
| Administration has the necessary resources and funding to | |
| modernize and strengthen its core programs on behalf of | |
| America's entrepreneurs. | |
| While the economy is healthy, much uncertainty remains. As | |
| a recent GDP report from the Commerce Department suggests, the | |
| economy is slowing. In fact, there is consensus among many | |
| economists that the forecast for this year is growing dim. | |
| Rising interest rates, increasing tariffs, market volatility, | |
| and a depressed global economy have led consumer confidence to | |
| fall. | |
| With fears of a recession growing, and a Harvard economist | |
| and former Treasury secretary estimating a 50 percent chance by | |
| 2020, more entrepreneurs and small business owners are looking | |
| towards the Small Business Administration and its many programs | |
| for help. | |
| That is why it is imperative that such critical programs | |
| are properly funded and at robust levels. The SBA's core | |
| programs ensure small employers and budding entrepreneurs have | |
| the financing, training, counseling, and access to the Federal | |
| marketplace they deserve as they work to strengthen our | |
| economy. | |
| Today's Views and Estimates reiterates the Committee's | |
| longstanding position to prioritize core programs, like the | |
| Small Business Development Centers and Women's Business | |
| Centers, rather than expanding critical funding on untested, | |
| agency-initiated programs. | |
| In order to support the SBA in its mission and to leverage | |
| the success of current programs, such as the SBA's flagship | |
| 7(a) lending program, the agency requires our commitment to | |
| provide the requisite resources and funding levels. | |
| Today's proposal carries forward this commitment, but at | |
| the same time recognizes where improvements and increased | |
| oversight are needed. It is a priority for this Committee to | |
| take a renewed look at the entrepreneurial development programs | |
| to maximize their effectiveness by modernizing the programs. | |
| In doing so, we can deliver better results for the millions | |
| of entrepreneurs utilizing the SBA's resources and that of its | |
| resource partners. | |
| Finally, we all must work together to level the playing | |
| field in lending and Federal procurement opportunities for | |
| socially and economically disadvantaged business owners all | |
| over the country. We can achieve this through a greater | |
| emphasis on hiring more contracting personnel and providing | |
| them with adequate training in order to effectively assist | |
| small contractors competing in the $500 billion Federal | |
| marketplace. | |
| The budget we are proposing will breathe new life into the | |
| SBA. More importantly, it will provide tangible benefits to | |
| small businesses and make sure taxpayers get a positive return | |
| on their investment. | |
| At this point, I will yield to the Ranking Member, Mr. | |
| Chabot, for any comments he may have on the Committee's Views | |
| and Estimates. | |
| Mr. CHABOT. Thank you, Madam Chairwoman. And good morning | |
| to everyone who is here. I want to thank the Chair and her | |
| staff for working in a bipartisan manner on the Budget Views | |
| and Estimates. I appreciate her willingness to work collegially | |
| as we meet our responsibilities to small businesses all across | |
| the country. | |
| According to the latest economic numbers, the U.S. economy | |
| is continuing to improve and economic forecasts are strong. In | |
| our congressional districts back home and in hearings in | |
| Cincinnati and here in Washington and all over the country we | |
| hear from small business owners that they are optimistic about | |
| the future. There are fewer regulations from Washington, and | |
| they have more money to invest in their business because of the | |
| Tax Cuts and Jobs Act. | |
| However, small businesses are still finding it difficult | |
| for access to capital. The Small Business Administration (SBA) | |
| and its programs are key to helping small firms expand, create | |
| jobs, and grow our economy. These programs help small | |
| businesses to access capital, provide counseling and training, | |
| and link entrepreneurs with mentors. | |
| The SBA, in short, is vital to their success in many | |
| instances. Our job is to ensure that the SBA's programs are | |
| working efficiently and effectively. We must insist that they | |
| are transparent and making the best use of taxpayer dollars. | |
| I often say that every small business starts as an idea. | |
| America is a Nation of creators, inventors, and risk-takers. | |
| Our economy was structured to be driven by entrepreneurs, and | |
| in fact, most net job growth is from startups and new | |
| businesses. Under Administrator Linda McMahon's leadership, the | |
| SBA has made progress in delivering its services and ensuring | |
| that it is offering the services that small businesses need. | |
| She has traveled across the country visiting all 68 SBA | |
| district offices, and she listens to the SBA employees and she | |
| listens to small businesses. | |
| Again, I want to thank the Chairwoman, and I yield back the | |
| balance of my time. | |
| Chairwoman VELAZQUEZ. The gentleman yields back, and I | |
| thank him for his remarks. | |
| Are there any other members who wish to be recognized for a | |
| statement on the Views and Estimates on the priorities of the | |
| Committee for fiscal year 2020? | |
| Seeing no members, the Committee now moves to consideration | |
| of the Views and Estimates. The clerk will read the title of | |
| the document. | |
| The CLERK. Views and Estimates of the Committee on Small | |
| Business on matters to be set forth---- | |
| Chairwoman VELAZQUEZ. I ask unanimous consent that the | |
| Views and Estimates be considered as read and open for | |
| amendment in its entirety. | |
| Does any member seek recognition for the purpose of | |
| offering an amendment? | |
| Seeing no amendments we will move on. | |
| And the question is on adopting the Views and Estimates on | |
| the priorities of the Committee for fiscal year 2020. | |
| All those in favor say aye. | |
| Those opposed no. | |
| In the opinion of the Chair the ayes have it. | |
| The ayes have it, and the Views and Estimates are agreed | |
| to. | |
| I will now recognize the Ranking Member for the purpose of | |
| making a motion. | |
| Mr. CHABOT. Thank you, Madam Chairwoman. | |
| I would move that the minority members of the Committee be | |
| permitted to offer additional views and estimates on the budget | |
| for fiscal year 2020. | |
| Chairwoman VELAZQUEZ. Thank you. | |
| Without objection, so ordered. | |
| And the Committee is authorized to make technical and | |
| grammatical corrections to the Views and Estimates. And I | |
| believe that concludes the business before the Committee today. | |
| So if there is no further business to come before the | |
| Committee, we are adjourned and the Committee will stand in | |
| recess for a few moments to prepare for the Committee hearing. | |
| Thank you. | |
| [Whereupon, at 10:57 a.m., the committee was adjourned.] | |
| A P P E N D I X | |
| [GRAPHICS NOT AVAILABLE IN TIFF FORMAT] | |
| [all] | |
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