WASHINGTON - House Small Business Committee Chairman Steve Chabot (R-OH) made the following statement on the resignation of Wells Fargo CEO John G. Stumpf: “Mr. Stumpf’s resignation is a first step but there are countless more steps Wells Fargo must take to correct the damage their employees did to millions of Americans by creating fraudulent accounts in their names without their permission. The egregious nature of these actions cannot be overstated. The next step should be for Wells Fargo to fu...
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WASHINGTON —Small Business Committee Chairman Steve Chabot (R-Ohio) today announced that the Committee’s newest Member, Congressman Warren Davidson (R-Ohio) has been named to the Small Business Committee’s Subcommittee on Economic Growth, Tax and Capital Access and the Subcommittee on Investigations, Oversight and Regulations. Chairman Chabot said, “Ohio has one of the most remarkable small business stories in the country, and Congressman Davidson and his family have been a part of that story. I...
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Small Businesses May Have Been Penalized for Accounts They Never Opened WASHINGTON –Today, House Small Business Committee Chairman Steve Chabot (R-OH) sent letters to Maria Contreras-Sweet, the Administrator of the U.S. Small Business Administration (SBA), and John G. Stumpf, the Chairman and CEO of Wells Fargo, pressing for information about how small businesses may have been harmed by fraudulent accounts created by Wells Fargo employees. Wells Fargo is the single largest participant in SBA’s ...
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WASHINGTON – Members of the House Small Business Committee have joined together to lead the introduction of a bipartisan House resolution to recognize the Saturday after Thanksgiving, November 26th, as “Small Business Saturday.” “America’s small businesses, entrepreneurs, and innovators need to be assured that we are fighting on their behalf, and that they have a voice in Washington.” Small Business Committee Chairman Steve Chabot (R-OH) said. “Support for America’s small businesses reaches beyo...
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WASHINGTON –House Small Business Committee leaders followed up today after the Federal Communications Commission (FCC) failed to respond to their bipartisan concerns about the impact of new proposed broadband regulations on America’s small businesses. The Committee wrote to FCC Chairman Tom Wheeler in August requesting answers about the negative economic impact of new FCC privacy proposals on small Broadband Internet Access Service (BIAS) providers. As noted in the letter, the FCC has failed to ...
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Bipartisan Measure Gives Small Businesses Six Months to Plan, Fight Click Image to Watch Chairman Chabot Speak on the House Floor WASHINGTON - House Small Business Committee Chairman Steve Chabot (R-OH) hailed House passage of a bipartisan measure to delay the Obama administration’s new overtime rule for six months. This additional time will enable small businesses and other small employers to plan for and fight back against these costly, burdensome new rules. H.R. 6094, the Regulatory Relief f...
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FAA: 90 percent of drone owners will be small businesses WASHINGTON – Small business owners told a key Congressional subcommittee today that new federal regulation that allows commercial use of small unmanned aircraft systems, otherwise known as drones or UAS, are opening up the skies and opportunities for new jobs and economic growth. However, effective and efficient implementation of the rule and the Federal Aviation Administration’s (FAA) next steps to fully and safely integrate UAS into the ...
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Bipartisan Measure Helps Protects Small Biz from Online Hackers WASHINGTON – House Small Business Committee Chairman Steve Chabot (R-OH) today applauded House passage of H.R. 5064, the Improving Small Business Cyber Security Act of 2016, bipartisan legislation which gives small businesses access to additional tools, resources and expertise to help protect their sensitive electronic data from cyber-threats. “American small businesses are under cyberattack like never before,” said House Small Busi...
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WASHINGTON—Upon learning that the Small Business Administration’s (SBA) CDC/504 Loan Program has experienced outages for roughly one third of all business days since June, House Small Business Committee Chairman Steve Chabot (R-Ohio) and Ranking Member Nydia Velázquez (D-NY) have written to SBA Administrator Maria Contreras-Sweet seeking answers. The program, which is intended to promote local economic development by providing long-term fixed rate financing for small businesses, is handled throu...
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Committee Spotlights Abusive IRS Tactics WASHINGTON – Today, Small Business Committee witnesses told Congress that increasingly aggressive audits by the Internal Revenue Service (IRS) are harming innocent small businesses, forcing some to close their doors entirely. “The IRS has an obligation to provide small businesses with clarity and to treat all taxpayers with fairness and respect,” said House Small Business Committee Chairman Steve Chabot (R-OH). “The agency has failed repeatedly in meetin...
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