House Committee on Small Business, Republicans
Straight Talk: Pledge to America, Costly Small Business Lending Bill and More
Weekly Update from Sam
Friends:

The American people are growing increasingly frustrated with the direction that Washington is taking our country.  Families are outraged that steps are not being taken to reign in unsustainable spending, record debt, and unprecedented government intervention.  Small business owners are particularly discouraged by the constant threat of more taxes and regulations. 

For too long, Washington has ignored the people and chosen instead to continue leading us down a dangerous path.  It is past time to heed the common voice of the common man.

House Republicans have been listening.  For months, we have traversed the country, holding town halls and talking with people in communities large and small about their concerns about the state of the nation.  Together with your voice, we have put forth a new governing agenda, A Pledge to America.

A Pledge to America emphasizes job creation, ending the spending spree in Washington, and reforming Congress – the things that people want most.  We stand ready to bring real transparency and accountability to Washington. Above all, we are fighting to make sure the People’s House returns to doing the people’s business. I encourage you to read our full pledge here.

(signed)
Sam Graves
Ranking Member

Latest Committee Action
There are no hearings scheduled in the House Small Business Committee next week. You can stay up-to-date on previous and upcoming hearings in the Committee by visiting the Committee Calendar on our website, or by following us on Twitter.
News from Washington

The House passed H.R. 5297, a controversial small business lending bill, by a vote of 237 to 187.  The legislation will create a $30 billion bailout fund to encourage small business lending; however, there is no requirement that participating banks actually lend to small business owners. 

Most Republicans opposed the bill because it authorizes another costly taxpayer bailout and dramatically expands the scope and penalties of the 1099 filing provision from the health care law. Additionally, several changes were made to Small Business Administration programs, including the elimination of a critical job creation requirement.  The President is expected to sign the measure on Monday. 

Ranking Member Graves spoke about this legislation on the House floor; watch his floor speech here. You can read more about H.R. 5297 here.

September 24, 2010
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