House Small Business Committee

Chairman Chabot Requests Study on Small Business Intellectual Property Resources

House Small Business Committee News - Tue, 08/14/2018 - 12:00am

WASHINGTON – This week, Chairman Steve Chabot (R-OH) sent a letter to the Honorable Gene Dodaro, Comptroller General of the United States at the United States Government Accountability Office (GAO), requesting that GAO study ways in which small businesses and entrepreneurs understand the resources available to help them obtain intellectual property protections.

“Intellectual property plays an important role in protecting the new and innovative ideas that drive our nation’s economy. This is no less true for our nation’s small businesses and entrepreneurs that are responsible for creating almost two-thirds of the new jobs over the last two decades. While there are federal resources available to help entrepreneurs and small businesses obtain intellectual property protections, such as the U.S. Patent and Trademark Office’s Patent Pro Se Assistance program, it is unclear to what extent small businesses are aware of and take advantage of these resources,” said Chairman Chabot.

In May 2018, the Committee held a hearing to examine how small business owners can capitalize and safeguard their work through intellectual property protections. Additionally, in July 2018, the Committee held a hearing to analyze how small business owners in the digital technology industry use intellectual property to help their business, and the issues they face when navigating the intellectual property process.

To read the entire letter, click here.

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ICYMI: Small Business Administrator McMahon Pens Op-Ed on Monumental Impact of the Tax Cuts and Jobs Act

House Small Business Committee News - Mon, 08/13/2018 - 12:00am
WASHINGTON - Last week, U.S. Small Business Administrator Linda McMahon wrote an op-ed in the Cincinnati Enquirer to highlight the monumental impact the Tax Cuts and Jobs Act is having on local small businesses after hosting a small business roundtable on July 27 with the House Committee on Small Business Chairman Steve Chabot (R-OH) in Cincinnati, Ohio.

"When I visited Cincinnati in September of last year, small business owners who joined a roundtable I hosted were clear on one thing – taxes were a burden taking too much time and money they’d rather be investing in their businesses...

"This truly is a golden age for small business. The unemployment rate is a healthy 4 percent, with more Americans entering the job market (600,000 in June alone!) to access the good jobs employers are now creating. The number of job openings is at a record high, and for the first time on record, there are more job openings than unemployed people looking for work. The unemployment rate for women was recently at the lowest level since 1953. The same can be said for African-American and Hispanic unemployment rates. A Gallup poll found two-thirds of Americans believe now is a good time to find a quality job," said U.S. Small Business Administrator Linda McMahon.

To read Administrator McMahon's full op-ed, click HERE

Chairman Steve Chabot Statement on Proposed Pass-Through Regulations

House Small Business Committee News - Thu, 08/09/2018 - 12:00am

WASHINGTON – This week, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the highly anticipated U.S. Department of Treasury and Internal Revenue Service guidance on the Tax Cuts and Jobs Act’s new 20 percent small business deduction was released:

“This is great news for small businesses and the millions of Americans they employ. Main Street businesses now have the clarity needed to work towards the 20 percent deduction, which will allow businesses to continue to invest in their companies, hire workers, and grow the economy. The Tax Cuts and Jobs Act has been instrumental for small businesses, entrepreneurs, and startups, and I look forward to seeing the new law create even more gains. This guidance is a pivotal next step.”

Background: Last month, the House Committee on Small Business held a hearing to gain further insight on the effects the Tax Cuts and Jobs Act has had on small businesses. From reinvestments in their companies to providing raises, the small business witnesses that testified made it clear that the Tax Cuts and Jobs Act was providing positive results. 

As a resource, the Committee tracks all regulatory proposals through its Regulatory Watch page that have been published in the Federal Register and those that are open for public comment. Small businesses and interested parties are invited to visit Reg Watch to comment on the new 20 percent small business deduction guidance.

ICYMI: Small Business Owners More Optimistic Than Ever

House Small Business Committee News - Wed, 08/08/2018 - 12:00am

WASHINGTON – This week, Wells Fargo/Gallup released a survey touting the record-high optimism U.S. small business owners’ are experiencing, the highest in 15 years.

According to the report:

  • Cash flow and positive financial situation are strong drivers of optimism.
  • 78 percent of small business owners rate their current financial situation as very or somewhat good, compared with 73 percent in the second quarter of 2018.
  • 69 percent of small business owners rate their cash flow in the past 12 months as very or somewhat good, compared to 63 percent last quarter.
  • Owners cite hiring qualified workers as a top challenge.

“It’s clear that small businesses are thriving and small business owners are experiencing more economic confidence as a result of our booming economy. The Tax Cuts and Jobs Act is putting small businesses in the driver’s seat, and I’m proud of the bright future ahead for many,” said House Committee on Small Business Chairman Steve Chabot (R-OH). 

For the Wells Fargo/Gallup survey, click here.

Chairman Chabot Encourages Ways & Means To Consider Tax Legislation that Assists Innovators

House Small Business Committee News - Fri, 08/03/2018 - 12:00am

WASHINGTON – Today, Chairman Steve Chabot (R-OH) sent a letter to Ways and Means Committee Chairman Kevin Brady (R-TX) encouraging the Committee to consider H.R. 3717, the Small Business Owners’ Tax Simplification Act, as they craft Tax Reform 2.0. H.R. 3717 was introduced by Chairman Chabot and would update the United States tax code for entrepreneurs and innovators.

“With the gig and sharing economy growing in importance, tax filing thresholds for independent contractors and worker classification decisions will become even more instrumental. H.R. 3717 addresses these issues, and others, to ensure that our nation’s innovators are not constrained by an outdated code,” said Chabot.

In October 2017, the Committee held a hearing to examine how the proposed changes in H.R. 3717 could impact small businesses.

To read the entire letter, click here.

The Tax Law’s Impact on Main Street

House Small Business Committee News - Wed, 07/25/2018 - 11:00am

The Committee on Small Business will meet for a hearing titled, “The Tax Law's Impact on Main Street.”  The hearing is scheduled to begin at 11:00 A.M. on Wednesday, July 25, 2018 in Room 2360 of the Rayburn House Office Building.

The hearing will examine how the Tax Cuts and Jobs Act has affected small businesses.  Members of the Committee will hear directly from small business owners regarding the impact the law has had on their operations and their outlook moving forward.   

Attachments
1. Hearing Notice
2. Witness List

Witnesses
Mr. Tibi Czentye
Chief Executive Officer
All Pro Solutions
Rock Hill, SC

Mr. Gary Ellerhorst
President / CEO
Crown Plastics Co. 
Harrison, OH

Ms. K. Davis Senseman
Founder
Davis Law Office
Minneapolis, MN
* Testifying on behalf of the Main Street Alliance

Tax Law is Boosting Main Street

House Small Business Committee News - Wed, 07/25/2018 - 12:00am

WASHINGTON – Today, the House Committee on Small Business held a hearing to find out how the Tax Cuts and Jobs Act has affected small businesses. The Tax Cuts and Jobs Act was signed into law on December 22, 2017.

“After more than thirty years of thinking and talking about tax reform, this Congress produced and passed the Tax Cuts and Jobs Act,” said Chairman Steve Chabot (R-OH). “Beyond macroeconomic data trends, this tax law will be judged on its direct impact on the ground…This is what we are here to discuss today: The reactions, the impact, and the effects of the Tax Cuts and Jobs Act on small business owners across this nation.”

What Small Business Owners Said About the Tax Law

“As a direct result of tax reform we have upgraded and replaced 12 doors in the frozen foods section of our store during the past few months. This may not sound like big project to some people but that investment cost over $65,000 and most importantly provided work for our local refrigeration company,” said Mr. Wettlin Treppendahl, Owner of Treppendahl’s Super Foods in Woodville, MS.

 “The tax reduction is huge and the extra in the company’s pocket is a big amount of money a small company can do a lot with. Until last year, many companies, including us, didn’t want to spend their money, but now, because of this big tax cut, any entrepreneur can see the opportunity to invest in its company with the goal to make more money for the company and its employees,” said Mr. Tibi Czentye, Chief Executive Officer of All Pro Solutions in Rock Hill, SC.

“The recent tax reduction in and of itself will have a positive impact on our employees and our business in 2018 and beyond. But when augmented by reduction in regulation and, most importantly, the hugely positive outlook by business leaders and consumers which started the day after the 2016 election, the resulting booming economy takes that positive impact of the tax bill and increases it exponentially,” said Mr. Gary Ellerhorst, President and CEO of Crown Plastics Co. in Harrison, OH.

To read the full witness testimony click here and to watch the full hearing click here.

Investing in Rural America

House Small Business Committee News - Tue, 07/24/2018 - 10:00am

The Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access and the Subcommittee on Agriculture, Energy, and Trade will meet for a joint hearing titled, “Investing in Rural America.”  The hearing is scheduled to begin at 10:00 A.M. on Tuesday, July 24, 2018 in Room 2360 of the Rayburn House Office Building

Access to capital is one of the key ingredients for small business success. Early stage funding such as venture capital can help small businesses expand and hire more individuals in their community. However, venture capital is predominately awarded to businesses in larger cities on the coasts. Various groups, including public-private partnerships, trade associations, and university based organizations, have emerged to help identify opportunities for private investors that support growing rural small businesses across the United States. This hearing will examine venture capital’s role in helping small business to access capital, and provide success stories of organizations that provide resources to small businesses in rural America.

Attachments
1. Hearing Notice
2. Witness List

Witnesses
Mr. Matthew M. McKenna
Executive in Residence, Rural Opportunity Initiative
McDonough School of Business
Georgetown University
Washington, DC

Ms. Falon Donohue
Chief Executive Officer
VentureOhio
Columbus, OH

Ms. Amy H. Gales
Executive Vice President, Regional Agribusiness Banking Group
CoBank
Greenwood Village, CO

Mr. Ross Baird
President
Village Capital
Alexandria, VA

SBC Examines How to Invest in Rural America

House Small Business Committee News - Tue, 07/24/2018 - 12:00am

WASHINGTON – This week, the House Committee on Small Business Subcommittees on Economic Growth, Tax, and Capital Access and Agriculture, Energy, and Trade held a joint hearing to examine venture capital’s role in helping small businesses access capital and highlight success stories of organizations that provide resources to small businesses in rural America.  

“Access to capital continues to remain a top concern for American small businesses—nowhere more than rural America, which has been slower to recover from the recession. Although venture capital has become a popular financing mechanism for small businesses trying to expand, data shows that more than 75 percent of venture capital goes to just three cities in the U.S.,” said Economic Growth, Tax, and Capital Access Subcommittee Chairman Dave Brat (R-VA).

 “Small businesses and entrepreneurs must be able to access capital so that they can continue to operate and expand their businesses and also attract talent, dollars, and jobs to their communities… Investing in and growing rural America is vital not just to the citizens who live there, but also to the future of our country,” said Agriculture, Energy, and Trade Subcommittee Chairman Rod Blum (R-IA).

Witness Testimony: A Need to Expand Venture Capital to Rural Areas

“Investment in venture-backed companies in the United States reached $57 billion in almost 4,000 deals in the first half of 2018. And yet, only a fraction of these dollars found their way to funds and companies based in rural America. The capital deficit is starving innovative and valuable growth opportunities,” said Mr. Matthew M. McKenna, Executive in Residence, Rural Opportunity Initiative of McDonough School of Business at Georgetown University in Washington, D.C.

America’s heartland lacks the critical access to capital enjoyed in Silicon Valley, New York and Boston. Three-quarters of venture capital is being invested in just three states. Our home state of Ohio received less than 1%. Talent is equally distributed but, if capital continues to be concentrated in the hands of a few based on geography, we risk letting this momentum fade away,” said Ms. Falon Donohue, Chief Executive Officer of VentureOhio in Columbus, OH.

The landscape of agriculture and rural America is diverse and complex. Historically, some small and/or emerging farmer-owned cooperatives have been overlooked when it comes to financing and other technical assistance. To truly fulfill our mission and strengthen our rural communities, we also recognized a need to serve these customers whenever possible,” said Ms. Amy H. Gales, Executive Vice President, Regional Agribusiness Banking Group of CoBank in Greenwood Village, CO.

If we are able to expand access to capital to any entrepreneur who faces barriers, more Americans will be able to contribute to the economic vitality of our country,” said Mr. Ross Baird, President of Village Capital and Innovator-in-Residence at Ewing Marion Kauffman Foundation in Alexandria, VA.

To read the full witness testimony click here and to watch the full hearing click here.

Chairman Chabot Speaks in Support of JOBS Act 3.0 and HALOS Act

House Small Business Committee News - Wed, 07/18/2018 - 12:00am

WASHINGTON – This week, House Committee on Small business Chairman Steve Chabot spoke on the House floor in support of the Jobs and Investors Confidence Act, which included legislation he introduced, the Helping Angels Lead Our Startups Act. The HALOS Act, which improves how investors and small businesses connect, passed the House in January of 2017.  

To watch the full video click below.

Small Business Committee Passes 8 Bipartisan Bills

House Small Business Committee News - Wed, 07/18/2018 - 12:00am

WASHINGTON – Today, the House Committee on Small Business held a markup of legislation to amend the Small Business Act and the Small Business Investment Act. All eight bills passed through Committee on bipartisan votes.

“Once again the Small Business Committee has shown we can work together in a bipartisan manner to create real, common-sense legislation to help our nation’s small businesses. I’m proud of all the work our Committee members have put into these bills, especially listening to the needs of our small businesses and acting on those needs,” said Chairman Steve Chabot (R-OH).

H.R. 6348, “Small Business Access to Capital and Efficiency Act” – introduced by Rep. Curtis (R-UT) and Rep. Dwight Evans (D-PA)

H.R. 6348 reduces burdens and conflicting regulations for small businesses by updating the Small Business Administration’s 504/Certified Development Company Loan Program’s commercial real estate appraisal threshold.

H.R. 6347, “7(a) Real Estate Harmonization Act” – introduced by Rep. Dwight Evans (D-PA) and Rep. John Curtis (R-UT)  

H.R. 6347 updates SBA’s 7(a) Loan Program’s commercial real estate appraisal threshold.

H.R. 6330, “Small Business Runway Extension Act of 2018” – introduced by Rep. Steve Knight (R-CA) and Rep. Yvette Clarke (D-NY)

H.R. 6330 modifies SBA’s size calculation to provide small businesses with more time to be considered “small” for the purposes of SBA’s small business programs.

H.R. 6369, “Expanding Contracting Opportunities for Small Businesses Act of 2018” – introduced by Rep. Roger Marshall (R-KS) and Rep. Brad Schneider (D-IL)

H.R. 6369 increases the size of sole source contract awards for women owned service-disabled veteran-owned, and HUBZone small businesses, and implements a new eligibility determination process to ensure sole source awards are made to eligible firms.

H.R. 6367, “Incentivizing Fairness in Subcontracting Act of 2018” – introduced by Rep. Al Lawson (D-FL) and Rep. Trent Kelly (R-MS)

H.R. 6367 provides incentives for large prime contractors to subcontract to small businesses, requires prime contractors to keep records of subcontracting credit claimed at lower tiers, and creates a new dispute process for small subcontractors to bring nonpayment issues to the agency’s small business advocate.

H.R.  6382, “Clarity on Small Business Participation in Category Management Act of 2018” – introduced by Rep. Alma Adams (D- NC) and Chairman Steve Chabot (R-OH)

H.R. 6382 requires the SBA to report federal spending made through designated “best-in-class” vehicles, and to report on the dollars spent through these vehicles awarded to small businesses.

H.R. 6316, “Small Business Advocacy Improvements Act of 2018” – Introduced by Rep. James Comer (R-KY) and Rep. Alma Adams (D-NC)

H.R. 6316 allows the SBA Office of Advocacy to examine the role of small business in international economies and to represent small business views before foreign governments and international entities.

H.R. 6368, “Encouraging Small Business Innovators Act” – introduced by Rep. Adriano Espaillat (D-NY) and Rep. Ralph Norman (R-SC)

H.R. 6368 makes a series of changes to the Small Business Innovation Research and Small Business Technology Transfer programs, making them easier for small firms to use.

To watch the full committee markup click here.

 

Achieving Government-Wide Verification of Service-Disabled Veteran-Owned Small Businesses

House Small Business Committee News - Tue, 07/17/2018 - 2:00pm

The Committee on Small Business Subcommittee on Investigations, Oversight, and Regulations and the Committee on Veterans’ Affairs Subcommittee on Oversight and Investigations will meet for a hearing titled, “Achieving Government-Wide Verification of Service-Disabled Veteran-Owned Small Businesses.”  The hearing is scheduled to begin at 2:00 P.M. on Tuesday, July 17, 2018 in Room 2360 of the Rayburn House Office Building

This hearing will examine the progress of the Department of Veterans Affairs (VA) and the Small Business Administration (SBA) in harmonizing definitions related to service-disabled veteran-owned small businesses (SDVOSBs) and designating SBA with regulatory responsibility for ownership and control and jurisdiction over protests and appeals for SDVOSBs.  The hearing will also examine SBA’s readiness to assume the remaining verification functions from the VA’s Center for Verification and Evaluation and the benefits of extending verification of SDVOSBs government-wide.

Attachments
1. Hearing Notice
2. Witness List 

Witnesses
Mr. Thomas J. Leney
Executive Director
Small and Veteran Business Programs
United States Department of Veterans Affairs
Washington, DC

Mr. Robb Wong
Associate Administrator
Office of Government Contracting & Business Development
United States Small Business Administration
Washington, DC

Mr. Davy G. Leghorn
Assistant Director
The American Legion
Washington, DC

SBC Kicks Off Amazon "Prime Day"

House Small Business Committee News - Tue, 07/17/2018 - 12:00am
WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) and Members of the Committee welcomed Amazon and several small businesses that sell on that platform to a roundtable discussion with Committee Members.

“I thank Amazon and the businesses for their insight into how e-commerce has given these small businesses a platform to not only sell their goods, but sell their products around the world. It wasn’t surprising to me that small businesses make up more than half of Amazon’s sales. This is reflective in our economy as well as small firms continue to be the engine behind job creation. From a party decorations business to a bottled water company, small sellers across the country are propelling our nation forward,” said Chairman Chabot.  

 “Amazon first invited small businesses to sell on Amazon nearly two decades ago, and today, small businesses are a vital part of Amazon’s continued growth and commitment to customers,” said Brian Huseman, Vice President of Public Policy at Amazon. “This is an important roundtable discussion on Prime Day, one of the biggest sales days of the year for the millions of small business owners who sell on Amazon, because many people do not realize that more than half of everything sold on Amazon comes from a small- and medium-sized business. These businesses come from all 50 states and around the globe, offering Amazon customers the opportunity to shop local and support a small business, even when they shop online.”

Innovation Nation: How Small Businesses in the Digital Technology Industry Use Intellectual Property

House Small Business Committee News - Wed, 07/11/2018 - 11:00am

The Committee on Small Business will meet for a hearing titled, “Innovation Nation: How Small Businesses in the Digital Technology Industry Use Intellectual Property.”  The hearing is scheduled to begin at 11:00 A.M. on Wednesday, July 11, 2018 in Room 2360 of the Rayburn House Office Building.

Digital technology allows small businesses to sell their products and services all over the world.  Not only does digital technology benefit small businesses by lowering their operating costs, developing market automation, and improving customer relationships, but small businesses can expand by entering the digital technology industry themselves.  More than just taking advantage of digital tools to improve a pre-existing small business, small businesses are becoming the digital tools, and small businesses in the digital technology industry continue to emerge.  While each company is unique, these small businesses have developed first and foremost because of their utilization of technology.  As a result of their unique innovations, small businesses create intellectual property, but in turn face challenges in protecting their ideas.  This hearing will examine how small business owners in the digital technology industry utilize intellectual property and the issues they face when navigating the intellectual property processes.

Attachments
1. Hearing Notice
2. Witness List 

Witnesses
Mr. Frank Cullen
Vice President of U.S. Policy
The Global Innovation Policy Center
U.S. Chamber of Commerce
Washington, DC

Mr. Morgan Reed
President
ACT | The App Association
Washington, DC

Mr. Christopher Mohr
Vice President for Intellectual Property and General Counsel
Software & Information Industry Association
Washington, DC

Helping Small Businesses Protect Intellectual Property

House Small Business Committee News - Wed, 07/11/2018 - 12:00am

WASHINGTON – Today, the House Committee on Small Business examined how small business owners in the digital technology industry use intellectual property to help their business, and the issues they face when navigating the intellectual property process.

America’s intellectual property is worth $6.6 trillion, and intellectual property-intensive industries employ over 45 million Americans.

However, as Chairman Steve Chabot (R-OH) said during the hearing, “The process for obtaining intellectual property protections can be daunting even for the most experienced small business owner. It can also be very expensive to hire professionals to traverse the intellectual property process. Because of their limited financial abilities, small business owners are vulnerable to their innovations being stolen both here in the United States and internationally, which can be financially devastating.”

What the Witnesses Said

“Intellectual Property (IP), an umbrella term covering copyright, patent, trademark, and trade secrets, is often the secret sauce that gives a new, up-and-coming company its competitive edge. The loss of that edge, through theft or other appropriation, invites unfair competition that can devastate even a large company, much less a small one,” said Mr. Frank Cullen, Vice President of U.S, Policy at the Global Innovation Policy Center for the U.S. Chamber of Commerce.

“I commend the House Small Business Committee for holding this hearing to examine the ways in which small businesses in the digital technology field use IP to survive and grow. Smartphones have become the single most rapidly adopted technology in the history of the world, but the success, growth, and utility of this mobile-driven phenomenon depends on the ingenuity of the small businesses that create new frontiers of opportunity,” said Mr. Morgan Reed, President of ACT | The App Association.

“As academic studies have reported, patent litigation, even the threat of litigation, and the pressures to negotiate a settlement, can have severe negative impacts on small businesses,” said Mr. Christopher Mohr, Vice President for Intellectual Property and General Counsel for the Software & Information Industry Association.

“It is difficult and perilous to start a new company from scratch. For companies built around a new invention or committed to solving a complex problem, it also requires investors with a strong appetite for risk.  To incentivize risk from inventors that results in true technological breakthroughs, we have the promise of patent protection to help ensure returns despite this risk,” said Mr. Chris Israel, Executive Director of Alliance of U.S. Startups & Inventors for Jobs.

This past March, the Committee unanimously passed H.R. 2655, the Small Business Innovation Protection Act of 2017, and it unanimously passed the full House of Representatives yesterday, July 10, 2018.

ZTE: A Threat to America’s Small Businesses

House Small Business Committee News - Wed, 06/27/2018 - 11:00am

The Committee on Small Business will meet for a hearing titled, “ZTE: A Threat to America’s Small Businesses.”  The hearing is scheduled to begin at 11:00 A.M. on Wednesday, June 27, 2018 in Room 2360 of the Rayburn House Office Building

This hearing will examine the imminent threat posed to America’s small businesses by the Chinese telecommunications firm ZTE. The hearing will provide committee Members the opportunity to hear from national security experts and cybersecurity firms on steps the administration can take to protect small businesses and American citizens from the dangers presented by ZTE. The hearing will also investigate ongoing efforts being by both the public and private sectors to reduce the challenges small businesses face in dealing with illicit Chinese backed enterprises.

Attachments
1. Hearing Notice
2. Witness List


Witnesses
Mr. David Linger
President & CEO
TechSolve, Inc.
Cincinnati, OH

Mr. Andy Keiser
Visiting Fellow
National Security Institute
Antonin Scalia Law School, George Mason University
Arlington, VA

Mr. Matthew G. Olsen
President
IronNet Cybersecurity
Kensington, MD

SBC Examines ZTE Threat to Small Businesses

House Small Business Committee News - Wed, 06/27/2018 - 12:00am

WASHINGTON—Today, Members of the House Committee on Small Business heard from a panel of national security experts and cybersecurity firms on the existential threat that the Chinese-owned telecommunications firm, ZTE, poses to American small businesses and citizens.

“Hearings by this Committee have shown that small businesses have become top targets for nefarious state-backed actors because they tend to be the softest targets. They have fewer resources to manage their IT systems and respond to cybersecurity incidents, and they often lack the technical knowledge needed to assess the ever-evolving threats,” said Chairman Steve Chabot (R-OH). “When we talk about existential threats to national security—and that is what ZTE is—it is the federal government’s job to protect Americans and American small businesses.”

Small Business Security is National Security

“These aggressors are seeking to disrupt manufacturing not only through the espionage of intellectual property; but also the destruction of the U.S. supply chain by crippling them both financially and through attacks,” said Mr. David Linger, President and CEO of TechSolve, Inc. in Cincinnati, OH. “In addition to their contributions to the economy, creating jobs, and building products critical to our daily life and defense of this nation, small manufacturers are especially important because they drive innovation. For those of us that work with small manufacturers who have teetered on the brink of closing their doors due to cyber-attacks; their cyber-crimes are personal, real, and distressing.”

“Small business in America is inherently resilient, creative, and able to adapt quickly to market conditions. One thing small business cannot do effectively, however, is compete against nation-state attacks, aggressive, unrelenting international espionage, and theft of trade secrets. And those are exactly the challenges presented by ZTE and Huawei,” said Mr. Andy Keiser, Visiting Fellow from the National Security Institute at George Mason University’s Antonin Scalia Law School in  Arlington, VA.

“For its part, ZTE has proven to be a particularly bad actor, flouting U.S. export control laws and deceiving regulators. In 2016, the U.S. government found that ZTE violated U.S. sanctions against Iran and North Korea, by using various U.S. components in systems it sold to those two countries,” said Mr. Matthew G. Olsen, President of IronNet Cybersecurity in Kensington, MD. “The critical national security concern going forward is the risk that ZTE and other Chinese-backed technology firms may pose to U.S. telecommunications and other critical infrastructure—risks that Congress and the intelligence community have amply documented.”

Click HERE to read full testimony and HERE for full hearing video.

PHOTO RELEASE: Chabot Attends White House Bill Signing with President Trump

House Small Business Committee News - Fri, 06/22/2018 - 12:00am

Yesterday, President Donald J. Trump signed Chairman Steve Chabot's (R-OH) landmark bill, H.R. 4743, the Small Business 7(a) Lending Oversight Reform Act, to increase the Small Business Administration’s (SBA) oversight authority over the 7(a) Loan Program. The bipartisan and bicameral legislation was introduced by House Committee on Small Business Chairman Steve Chabot, and Senate Small Business and Entrepreneurship Committee Chairman Jim Risch (R-ID), and Ranking Member Nydia Velázquez (D-NY) and Senator Jeanne Shaheen (D-NH).

Pictured here, from left to right, is Chairman Jim Risch, SBA Administrator Linda McMahon, President Donald J. Trump, and Chairman Steve Chabot. 

See full statement HERE

Official White House Photo by Shealah Craighead




President Signs Knight Bill To Ensure Small Businesses Have Access to Capital

House Small Business Committee News - Fri, 06/22/2018 - 12:00am

WASHINGTON – This week, the President signed H.R. 2333, the Small Business Investment Opportunity Act, introduced by Contracting and Workforce Subcommittee Chairman Steve Knight (R-CA), to increase the amount of leverage made available to small business investment companies (SBICs).

“No doubt, access to capital remains one of the biggest obstacles for small business owners in growing their companies. Congressman Knight’s bill will allow small businesses to more easily get the financing they need and I thank him for all the hard work he has put into this bill to see it become law,” said Chairman Chabot (R-OH).

“I am very pleased that the Small Business Investment Opportunity Act, has been signed into law. This bill will make improvements to the Small Business Investment Company Program and help ensure that our small businesses have access to the capital they need to flourish and grow. Small businesses are an integral part of our country, and by improving their ability to expand and thrive, we can make the American dream more available for everyone,” said Congressman Knight.

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