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Washington – Today, the House Committee on Small Business met for a hearing titled “Small Business Priorities for the 116^th Congress”.  Ranking Member Steve Chabot (R-OH) delivered the following opening statement:

Remarks as Prepared for Delivery

There are more than thirty million small businesses in this country.  We call them the backbone of our national economy because they are the fundamental structure we build upon, the keystone of every community. Small businesses make up 99.9 percent of all firms, employ nearly half of private sector employees, and create two out of every three net new jobs.

We call small businesses the lifeblood of our national economy because they are the essence of American strength and vitality.  From entrepreneurs to generational mom and pop stores, small business owners personify diversity, creativity, and grit; essential ingredients of the American spirit.

During my tenure on this Committee, one that spans over two decades, we have heard from thousands of small business owners, economists, and advocates; each with suggestions on how to improve the way small businesses do business.

Our success at this Committee depends on open and honest dialogue with small businesses, industry leaders, and government officials. Members of this Committee will certainly have differing opinions on priority problems and policy solutions, but as we maintain our spirit of bipartisanship, I am confident that we will find more areas of common ground. Today, as we outline our policy agenda, we begin the search for small business issues we can tackle together. 

Recent tax and regulatory relief has spurred economic growth and generated high levels of optimism within the small business community.  In 2018, small business owners reported higher sales, earnings, investments, and hiring.  Bolstered by their confidence, they are looking to expand.  At this Committee, we know that thriving small businesses create more jobs, revitalize communities, and sustain our national economy. 

Our efforts should focus on how we, the government, can support small business growth, instead of constraining it with red tape.  In the 116^th Congress, I look forward to continuing our rigorous oversight of the Small Business Administration, agency contracting programs, and regulatory regimes. We are the stewards of taxpayer dollars.  When federal programs operate efficiently and effectively, everyone benefits. 

Madame Chairwoman, I am proud of the legislative successes we have achieved together at the Small Business Committee, and I look forward to many more in the 116^th Congress. I’d like to thank our witnesses for being here and I yield back.