Strengthening Small Businesses

Steve's View: "Small businesses are the backbone of this economy. We must promote policies that encourage economic growth and foster an environment where entrepreneurs and their employees can prosper."

Congressman Chabot has served on the House Small Business Committee since taking office in 1995. Chabot, the Ranking Minority Member of the committee, is committed to keeping taxes low, reducing regulations and frivolous lawsuits, and providing more access to capital for small business entrepreneurs.

The Small Business Extension Act: On February 15, 2007, President Bush signed into law the Small Business Extension Act, a bill sponsored by Congressman Chabot, which extends through July 31, 2007 critical businesses investment programs of the Small Business Administration (SBA) facing expiration.

Some of the programs reauthorized by Chabot’s bill included the 7(a) loan program, the SBA's most basic and widely used guaranteed loan; the Certified Development Company/504 loan, which provides long-term, fixed rate loans to support local economic development; the Section 8(a) program, a business development program created to help small disadvantaged businesses compete and access the federal procurement market; and programs to support women and veteran owned small businesses.