It is a federal government goal to award 23 percent of all prime contract dollars to small businesses. Unfortunately, the Obama administration missed that target by 3 points last year — that’s $15 billion that small businesses missed out on. Our committee will help address this by increasing the small business goal to 25 percent and holding agency executives responsible for meeting these goals, so that small businesses receive real opportunities rather than lip service.
Because access to capital continues to be a problem for many small businesses, our committee will continue to analyze the effects of regulations on lending. The current anti-business policies from Washington have led to a 17-year low in entrepreneurship, according to the Bureau of Labor Statistics. We will hold hearings on ways the federal government can do more to create an environment for entrepreneurship.
Our committee will continue to promote pro-growth policies that will help small businesses and fight regulations that keep them from growing and creating jobs. We will also closely monitor the barrage of health care regulations coming from this administration because small businesses continue to be burdened by health care compliance.
Small businesses have been burdened by the constant threat of tax increases, inconsistent flow of credit, a cloud of federal debt, overreaching federal regulations and the looming health care law mandates.
What they need is a better economic environment driven by fiscal discipline, a sustainable path of less government spending, lower taxes and fewer burdensome regulations.
The top priority for our committee will be to lead Congress in this endeavor, because small-business growth is the best path to sustained economic prosperity.
Rep. Sam Graves (R-Mo.) is chairman of the House Small Business Committee.