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Updated: 2 hours 41 min ago

Chairman Chabot Praises Small Business Benefits of Tax Reform

Thu, 12/20/2018 - 12:00am

Washington – Today, the House of Representatives passed the final version of H.R. 88, the Retirement, Savings, and Other Tax Relief Act and the Taxpayer First Act.  Key provisions of this legislation would significantly benefit American small businesses.  Whether it is through assisting business owners with providing employee retirement plans or redesigning a more taxpayer friendly Internal Revenue Service (IRS), this legislation is another step by Congress to spur economic growth and modernize the tax code. 

House Committee on Small Business Chairman Steve Chabot (R-OH) said this in response to the passage of the legislation:

“Time and again we have heard about the benefits of last year’s Tax Cuts and Jobs Act for small businesses throughout the country.  The legislation that the House passed today would build on that success by providing entrepreneurs with the assistance and clarity they need to compete and succeed.”

With the one-year anniversary of the historic Tax Cuts and Jobs Act just a few days away, the House of Representatives remains focused on creating a streamlined and reliable tax code on which American entrepreneurs can rely.    

Chairman Chabot Praises Small Business Benefits of Tax Reform

Thu, 12/20/2018 - 12:00am

Washington – Today, the House of Representatives passed the final version of H.R. 88, the Retirement, Savings, and Other Tax Relief Act and the Taxpayer First Act.  Key provisions of this legislation would significantly benefit American small businesses.  Whether it is through assisting business owners with providing employee retirement plans or redesigning a more taxpayer friendly Internal Revenue Service (IRS), this legislation is another step by Congress to spur economic growth and modernize the tax code. 

House Committee on Small Business Chairman Steve Chabot (R-OH) said this in response to the passage of the legislation:

“Time and again we have heard about the benefits of last year’s Tax Cuts and Jobs Act for small businesses throughout the country.  The legislation that the House passed today would build on that success by providing entrepreneurs with the assistance and clarity they need to compete and succeed.”

With the one-year anniversary of the historic Tax Cuts and Jobs Act just a few days away, the House of Representatives remains focused on creating a streamlined and reliable tax code on which American entrepreneurs can rely.    

Chairman Chabot: Our country has experienced unprecedented growth…

Tue, 12/11/2018 - 12:00am

WASHINGTON – Today, the National Federation of Independent Business (NFIB) released its November 2018 Small Business Optimism Index, which reports optimism remaining high in November.

Following the release of the report, Chairman Chabot (R-OH) said:

“Small business optimism has remained solid over the past month, which demonstrates the enthusiasm and strong economic growth driven by wage increases that have reached a 30-year high and the creation of thousands of new jobs. There’s no question that over the past two years our country has experienced unprecedented growth that has produced a fertile ground for small business owners and entrepreneurs. I’m pleased that the implementation of the new tax law and regulatory rollbacks have fueled our economy and paved the way for Main Street to thrive.”

For the full NFIB Small Business Optimism Index, click here.

Chairman Chabot: Our country has experienced unprecedented growth…

Tue, 12/11/2018 - 12:00am

WASHINGTON – Today, the National Federation of Independent Business (NFIB) released its November 2018 Small Business Optimism Index, which reports optimism remaining high in November.

Following the release of the report, Chairman Chabot (R-OH) said:

“Small business optimism has remained solid over the past month, which demonstrates the enthusiasm and strong economic growth driven by wage increases that have reached a 30-year high and the creation of thousands of new jobs. There’s no question that over the past two years our country has experienced unprecedented growth that has produced a fertile ground for small business owners and entrepreneurs. I’m pleased that the implementation of the new tax law and regulatory rollbacks have fueled our economy and paved the way for Main Street to thrive.”

For the full NFIB Small Business Optimism Index, click here.

Chairman Chabot Highlights 15-Year High for Small Business Optimism

Tue, 12/04/2018 - 12:00am

WASHINGTON – Today, the latest quarterly Wells Fargo/Gallup Small Business Index was released, indicating a significant jump of optimism among small business owners and the highest score in the survey’s 15-year history.

Upon the release of this report, Chairman Chabot (R-OH) said:

“Small business owners are experiencing the positive effects of our booming economy, with indicators for a hopeful future ahead. With small business optimism reaching historic highs, our policies are not only helping small business owners, they are bringing more people into the job market. Easier access to credit means more growth and more jobs. I look forward to this momentum continuing as small business owners and entrepreneurs gear up for a new year.”

The Wells Fargo/Gallup Small Business Index showed:

  • 80 percent of respondents regarded their financial situation as very good or somewhat good.
  • 55 percent of respondents recorded increases in revenue for their small businesses.
  • 27 percent of small business owners say over the past 12 months, the number of jobs in their company has increased.
  • 47 percent of companies found it somewhat or very easy to obtain credit.
For the full Wells Fargo/Gallup Small Business Index, click here.

Chairman Chabot Highlights 15-Year High for Small Business Optimism

Tue, 12/04/2018 - 12:00am

WASHINGTON – Today, the latest quarterly Wells Fargo/Gallup Small Business Index was released, indicating a significant jump of optimism among small business owners and the highest score in the survey’s 15-year history.

Upon the release of this report, Chairman Chabot (R-OH) said:

“Small business owners are experiencing the positive effects of our booming economy, with indicators for a hopeful future ahead. With small business optimism reaching historic highs, our policies are not only helping small business owners, they are bringing more people into the job market. Easier access to credit means more growth and more jobs. I look forward to this momentum continuing as small business owners and entrepreneurs gear up for a new year.”

The Wells Fargo/Gallup Small Business Index showed:

  • 80 percent of respondents regarded their financial situation as very good or somewhat good.
  • 55 percent of respondents recorded increases in revenue for their small businesses.
  • 27 percent of small business owners say over the past 12 months, the number of jobs in their company has increased.
  • 47 percent of companies found it somewhat or very easy to obtain credit.
For the full Wells Fargo/Gallup Small Business Index, click here.

Chairman Chabot and House Committee on Veterans’ Affairs Chairman Roe Introduce the VA-SBA Act

Tue, 11/27/2018 - 12:00am

WASHINGTON - Today, House Committee on Small Business Chairman Steve Chabot (R-OH) and House Committee on Veterans’ Affairs Chairman Phil Roe, M.D. (R-TN) released statements following the introduction of new legislation to better enable the Small Business Administration (SBA) and Department of Veterans Affairs (VA) to fulfill their designated responsibilities and streamline programs within the agencies. H.R. 7169, the Verification Alignment and Service-Disabled Business Adjustment (VA-SBA) Act was introduced by the House Small Business Committee’s Chairman of the Subcommittee on Investigations, Oversight, and Regulations Trent Kelly (R-MS).

Currently, SBA certifies small businesses that participate in federal contracting preference programs. However, Service Disabled Veteran Owned Small Businesses (SDVOSB) are the exception – they are verified by VA to qualify for VA contracts, and are uniquely allowed to self-certify through SBA to obtain federal contracts from all other federal government agencies. The ability of SDVOSBs to do so has led to years of fraud, waste, and abuse, as it has allowed companies not owned by service-disabled veterans to take advantage of the system. It also has created two separate classes of SDVOSBs: those that are verified by VA, and those that have self-certified at SBA. The VA-SBA Act would require SBA to certify all SDVOSB applications, as it does for all other small businesses, and would preserve the unique Veterans Owned Small Business contracting preference in VA.

“Our nation’s veterans learn skills while serving that make them top notch entrepreneurs,” said Chairman Chabot. “With 2.52 million small businesses majority-owned by veterans, it’s important they have access to the resources they need to start a small business without the red tape and confusion that can come from government agencies. The VA-SBA Act will open doors for veteran-owned small businesses and expedite the process of becoming an entrepreneur. I look forward to ensuring veterans are able to continue their contributions to the American economy. I thank the House Committee on Veterans’ Affairs Chairman Roe, House Committee on Small Business Subcommittee on Investigations, Oversight and Regulations Chairman Kelly, and Veterans' Affairs Subcommittee on Oversight and Investigations Chairman General Bergman for their dedication and leadership to ensure this program gets a necessary update. America’s heroes deserve the full support of Congress in all aspects of life, especially as they work to bring their business dreams to life.”

“Different treatment of SDVOSBs depending on which federal agency they contract with is confusing and inefficient," said Chairman Roe. "VA requires a rigorous verification process, while other agencies allow nearly anyone to self-certify. This situation has created more problems than good, and it is high time to fix it. Bad actors are taking advantage of this exception and companies that are not owned and controlled by service-disabled veterans are fraudulently representing themselves to obtain contracts. This legislation fixes the disparity in the law and ensures that SBA is able to fully manage all small business certifications, as they should, and allows the workforce VA to focus on their core mission. I am grateful to full committee Chairman Chabot, House Committee on Veterans' Affairs' Subcommittee on Oversight and Investigations Chairman General Jack Bergman (R-Mich.) and subcommittee Chairman Kelly for their efforts to provide this necessary reform to the law.”

“Service-disabled veteran-owned small businesses (SDVOSBs) and veteran-owned small businesses (VOSBs) are essential components of our nation’s small business operations,” said Rep. Kelly. “It is important that we relieve regulatory burdens that make it more difficult for them to compete for government contracts. Additionally, it is vital that the process become more streamlined which is the purpose of this important legislation.”

"This legislation is the result of a close partnership between our two committees," said Rep. Bergman. "Chairman Kelly and I convened a joint oversight hearing to study the issue in July, and after months of consultation with the veterans service organizations, the veteran small business community and the agencies, the VA-SBA Act is a sound solution,” said Bergman. “It will make the federal government operate more efficiently and logically by instituting badly needed safeguards in the SDVOSB contracting program. Every contract that gets siphoned off by a fraudulent company denies a service-disabled veteran entrepreneur a contracting opportunity that he or she earned. The loophole that allows this to happen must be closed."

Chairman Chabot and House Committee on Veterans’ Affairs Chairman Roe Introduce the VA-SBA Act

Tue, 11/27/2018 - 12:00am

WASHINGTON - Today, House Committee on Small Business Chairman Steve Chabot (R-OH) and House Committee on Veterans’ Affairs Chairman Phil Roe, M.D. (R-TN) released statements following the introduction of new legislation to better enable the Small Business Administration (SBA) and Department of Veterans Affairs (VA) to fulfill their designated responsibilities and streamline programs within the agencies. H.R. 7169, the Verification Alignment and Service-Disabled Business Adjustment (VA-SBA) Act was introduced by the House Small Business Committee’s Chairman of the Subcommittee on Investigations, Oversight, and Regulations Trent Kelly (R-MS).

Currently, SBA certifies small businesses that participate in federal contracting preference programs. However, Service Disabled Veteran Owned Small Businesses (SDVOSB) are the exception – they are verified by VA to qualify for VA contracts, and are uniquely allowed to self-certify through SBA to obtain federal contracts from all other federal government agencies. The ability of SDVOSBs to do so has led to years of fraud, waste, and abuse, as it has allowed companies not owned by service-disabled veterans to take advantage of the system. It also has created two separate classes of SDVOSBs: those that are verified by VA, and those that have self-certified at SBA. The VA-SBA Act would require SBA to certify all SDVOSB applications, as it does for all other small businesses, and would preserve the unique Veterans Owned Small Business contracting preference in VA.

“Our nation’s veterans learn skills while serving that make them top notch entrepreneurs,” said Chairman Chabot. “With 2.52 million small businesses majority-owned by veterans, it’s important they have access to the resources they need to start a small business without the red tape and confusion that can come from government agencies. The VA-SBA Act will open doors for veteran-owned small businesses and expedite the process of becoming an entrepreneur. I look forward to ensuring veterans are able to continue their contributions to the American economy. I thank the House Committee on Veterans’ Affairs Chairman Roe, House Committee on Small Business Subcommittee on Investigations, Oversight and Regulations Chairman Kelly, and Veterans' Affairs Subcommittee on Oversight and Investigations Chairman General Bergman for their dedication and leadership to ensure this program gets a necessary update. America’s heroes deserve the full support of Congress in all aspects of life, especially as they work to bring their business dreams to life.”

“Different treatment of SDVOSBs depending on which federal agency they contract with is confusing and inefficient," said Chairman Roe. "VA requires a rigorous verification process, while other agencies allow nearly anyone to self-certify. This situation has created more problems than good, and it is high time to fix it. Bad actors are taking advantage of this exception and companies that are not owned and controlled by service-disabled veterans are fraudulently representing themselves to obtain contracts. This legislation fixes the disparity in the law and ensures that SBA is able to fully manage all small business certifications, as they should, and allows the workforce VA to focus on their core mission. I am grateful to full committee Chairman Chabot, House Committee on Veterans' Affairs' Subcommittee on Oversight and Investigations Chairman General Jack Bergman (R-Mich.) and subcommittee Chairman Kelly for their efforts to provide this necessary reform to the law.”

“Service-disabled veteran-owned small businesses (SDVOSBs) and veteran-owned small businesses (VOSBs) are essential components of our nation’s small business operations,” said Rep. Kelly. “It is important that we relieve regulatory burdens that make it more difficult for them to compete for government contracts. Additionally, it is vital that the process become more streamlined which is the purpose of this important legislation.”

"This legislation is the result of a close partnership between our two committees," said Rep. Bergman. "Chairman Kelly and I convened a joint oversight hearing to study the issue in July, and after months of consultation with the veterans service organizations, the veteran small business community and the agencies, the VA-SBA Act is a sound solution,” said Bergman. “It will make the federal government operate more efficiently and logically by instituting badly needed safeguards in the SDVOSB contracting program. Every contract that gets siphoned off by a fraudulent company denies a service-disabled veteran entrepreneur a contracting opportunity that he or she earned. The loophole that allows this to happen must be closed."

Chairman Chabot on FoxNews.com: Small Business Saturday Helps American Entrepreneurs

Mon, 11/26/2018 - 12:00am

WASHINGTON – Last week, House Committee on Small Business Chairman Steve Chabot (R-OH) penned an op-ed in Fox News on the value of Small Business Saturday to communities and entrepreneurs. Read the full op-ed below.

Serving as Chairman of the House Committee on Small Business over the past four years, I’ve had the honor of advocating and fighting for Main Street.

This year on Small Business Saturday, November 24, 2018, I hope Americans will celebrate the 30 million small businesses and the millions of workers they employ by shopping locally. This day is an incredible opportunity to support our local independent businesses during their most critical time of year.

In 2010, the Small Business Saturday campaign was launched to help small businesses that were hurting from the recession by boosting sales and encouraging shopping.

Every year since 2011, both chambers of Congress have introduced resolutions to recognize and promote Small Business Saturday as the Saturday after Thanksgiving. This year, I had the privilege of introducing a resolution to continue this tradition and recognize November 24, 2018 as Small Business Saturday, and support efforts to increase awareness of the value of locally owned small businesses. This day gives us an opportunity to refocus our efforts and reaffirm our commitment to helping small businesses thrive.

With 99 percent of all employers in the United States being small businesses, it’s critical we fuel this engine of job creation and innovation. By shopping small, Americans can stimulate our economy and support the two-thirds of net new jobs that small businesses produce.

In Ohio alone, there are 944,797 total small businesses that employ 2.2 million people, according to the Small Business Administration’s (SBA) most recent data. With American Express reporting that 90 percent of consumers say that Small Business Saturday has had a positive impact on their community, can you imagine the impact this day has had on Ohio alone? And, the impact that Small Business Saturday can have throughout our nation is huge.

The 2017 Small Business Saturday Consumer Insights Survey from the National Federation of Independent Business (NFIB) and American Express highlights this impact. The survey notes that last year, 108 million shoppers spent $12.9 billion at a variety of businesses, from restaurants to clothing stores to coffee shops, on Small Business Saturday.

When you reflect on these numbers, there is nothing ‘small’ about small business.

In my 22 years serving on the Small Business Committee, I’ve seen first-hand the hard work and dedication small business owners put into their companies to get them off the ground and succeed.

The Committee has held hearings and roundtables to hear from entrepreneurs and talk through the joys and challenges of running a business. It has always been the mission of the Committee, as it must be for Congress, to offer solutions that will help grow businesses.

Further, the Committee has been working diligently with the Administration to reduce regulatory costs and burdens. In fact, for every new regulation issued, the Administration has eliminated 12, resulting in $33 billion in net regulatory savings over the last two years. American business owners should be investing in the American Dream, not squandering their resources on regulatory compliance.

To help amplify this effort, the Committee has an online resource called Regulatory Watch. This resource is for small businesses that want to participate in the regulatory development process, but do not have the time or ability to monitor federal agencies’ activities. The webpage is updated regularly to highlight proposed regulations that could impact small businesses, allowing owners the opportunity to submit comments, plan ahead, or simply better understand the process.

Monte Wiederhold, a small business owner from my home state of Ohio, said it best when he testified before our Committee this Congress about one-size-fits-all regulations impacting his business:

“Time and time again, this approach punishes small businesses, stifles competition, and overregulates an industry deregulated by design. Too often, these costly and burdensome regulations are advanced at the behest of corporate motor carriers, who use the legislative and regulatory process to gain competitive advantages over smaller operators like me.”

Fortunately for Mr. Wiederhold, our economy is on the uphill swing, with unemployment at an all-time low and small business optimism setting record highs.

This past June, President Trump signed the Small Business 7(a) Lending Oversight Reform Act, a bill I introduced to ensure appropriate oversight of the SBA’s flagship loan program and improve access to capital for small business owners. Getting a loan for a small business can be the difference between expanding their company and creating jobs or never getting off the ground. This was a huge win for small businesses and the workers they will hire because of it.

It’s important that we do all we can to help America’s entrepreneurs who not only dare to dream but dare to make those dreams a reality. On Small Business Saturday, I encourage you to get involved in your community, whether you are in Carson City, Nevada, or Cincinnati, Ohio – my hometown – and shop small. Your support allows small business owners to continue to dream big, take risks, and drive innovation for the next generation of Americans.


Republican Steve Chabot represents Ohio's 1st congressional district in the U.S. House of Representatives where he serves as chairman of the Small Business Committee.

Chairman Chabot on FoxNews.com: Small Business Saturday Helps American Entrepreneurs

Mon, 11/26/2018 - 12:00am

WASHINGTON – Last week, House Committee on Small Business Chairman Steve Chabot (R-OH) penned an op-ed in Fox News on the value of Small Business Saturday to communities and entrepreneurs. Read the full op-ed below.

Serving as Chairman of the House Committee on Small Business over the past four years, I’ve had the honor of advocating and fighting for Main Street.

This year on Small Business Saturday, November 24, 2018, I hope Americans will celebrate the 30 million small businesses and the millions of workers they employ by shopping locally. This day is an incredible opportunity to support our local independent businesses during their most critical time of year.

In 2010, the Small Business Saturday campaign was launched to help small businesses that were hurting from the recession by boosting sales and encouraging shopping.

Every year since 2011, both chambers of Congress have introduced resolutions to recognize and promote Small Business Saturday as the Saturday after Thanksgiving. This year, I had the privilege of introducing a resolution to continue this tradition and recognize November 24, 2018 as Small Business Saturday, and support efforts to increase awareness of the value of locally owned small businesses. This day gives us an opportunity to refocus our efforts and reaffirm our commitment to helping small businesses thrive.

With 99 percent of all employers in the United States being small businesses, it’s critical we fuel this engine of job creation and innovation. By shopping small, Americans can stimulate our economy and support the two-thirds of net new jobs that small businesses produce.

In Ohio alone, there are 944,797 total small businesses that employ 2.2 million people, according to the Small Business Administration’s (SBA) most recent data. With American Express reporting that 90 percent of consumers say that Small Business Saturday has had a positive impact on their community, can you imagine the impact this day has had on Ohio alone? And, the impact that Small Business Saturday can have throughout our nation is huge.

The 2017 Small Business Saturday Consumer Insights Survey from the National Federation of Independent Business (NFIB) and American Express highlights this impact. The survey notes that last year, 108 million shoppers spent $12.9 billion at a variety of businesses, from restaurants to clothing stores to coffee shops, on Small Business Saturday.

When you reflect on these numbers, there is nothing ‘small’ about small business.

In my 22 years serving on the Small Business Committee, I’ve seen first-hand the hard work and dedication small business owners put into their companies to get them off the ground and succeed.

The Committee has held hearings and roundtables to hear from entrepreneurs and talk through the joys and challenges of running a business. It has always been the mission of the Committee, as it must be for Congress, to offer solutions that will help grow businesses.

Further, the Committee has been working diligently with the Administration to reduce regulatory costs and burdens. In fact, for every new regulation issued, the Administration has eliminated 12, resulting in $33 billion in net regulatory savings over the last two years. American business owners should be investing in the American Dream, not squandering their resources on regulatory compliance.

To help amplify this effort, the Committee has an online resource called Regulatory Watch. This resource is for small businesses that want to participate in the regulatory development process, but do not have the time or ability to monitor federal agencies’ activities. The webpage is updated regularly to highlight proposed regulations that could impact small businesses, allowing owners the opportunity to submit comments, plan ahead, or simply better understand the process.

Monte Wiederhold, a small business owner from my home state of Ohio, said it best when he testified before our Committee this Congress about one-size-fits-all regulations impacting his business:

“Time and time again, this approach punishes small businesses, stifles competition, and overregulates an industry deregulated by design. Too often, these costly and burdensome regulations are advanced at the behest of corporate motor carriers, who use the legislative and regulatory process to gain competitive advantages over smaller operators like me.”

Fortunately for Mr. Wiederhold, our economy is on the uphill swing, with unemployment at an all-time low and small business optimism setting record highs.

This past June, President Trump signed the Small Business 7(a) Lending Oversight Reform Act, a bill I introduced to ensure appropriate oversight of the SBA’s flagship loan program and improve access to capital for small business owners. Getting a loan for a small business can be the difference between expanding their company and creating jobs or never getting off the ground. This was a huge win for small businesses and the workers they will hire because of it.

It’s important that we do all we can to help America’s entrepreneurs who not only dare to dream but dare to make those dreams a reality. On Small Business Saturday, I encourage you to get involved in your community, whether you are in Carson City, Nevada, or Cincinnati, Ohio – my hometown – and shop small. Your support allows small business owners to continue to dream big, take risks, and drive innovation for the next generation of Americans.


Republican Steve Chabot represents Ohio's 1st congressional district in the U.S. House of Representatives where he serves as chairman of the Small Business Committee.

Chairman Chabot Recognizes National Entrepreneurs’ Day

Tue, 11/20/2018 - 12:00am

WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement in recognition of November 20, 2018, as National Entrepreneurs’ Day.

“As Chairman of the Small Business Committee, I believe it’s important we do all we can to promote American entrepreneurship and new business creation. Small businesses make up 99.9 percent of all firms in the United States and employ about half of all United States workers. National Entrepreneurs’ Day is an opportunity for all of us to recognize the contributions of our nation’s best job creators.”

Chairman Chabot Recognizes National Entrepreneurs’ Day

Tue, 11/20/2018 - 12:00am

WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement in recognition of November 20, 2018, as National Entrepreneurs’ Day.

“As Chairman of the Small Business Committee, I believe it’s important we do all we can to promote American entrepreneurship and new business creation. Small businesses make up 99.9 percent of all firms in the United States and employ about half of all United States workers. National Entrepreneurs’ Day is an opportunity for all of us to recognize the contributions of our nation’s best job creators.”

Small Business Committee Members Introduce Bipartisan Small Business Saturday Resolution

Tue, 11/13/2018 - 12:00am

WASHINGTON – Today, Members of the House Small Business Committee joined together to introduce a bipartisan House resolution recognizing the Saturday after Thanksgiving, November 24, 2018, as “Small Business Saturday.”

“Small Business Saturday is an incredible opportunity for communities to rally around the more than 30 million small businesses during the holiday season,” said Small Business Committee Chairman Steve Chabot (R-OH). “With two out of three net new jobs generated from small businesses, it’s vital we ensure they continue to grow. I encourage everyone to shop small on November 24th and support those who are working to achieve the American Dream.”

“Every year, Small Business Saturday gives consumers across the country a special opportunity to focus on the value of patronizing their local Main Street businesses,” said Rep. Nydia M. Velázquez (D-NY), Ranking Member, House Committee on Small Business. “From driving local economic growth to creating good jobs and spurring innovation, small businesses are the backbone of the American economy. I am glad to join Chairman Chabot and my fellow Committee members in a resolution recognizing November 24, 2018 as Small Business Saturday, especially as we continue to work across the aisle on legislation to support America’s 30 million small businesses.”

This resolution underscores the critical role small businesses play in our nation’s thriving economy. The over 30 million small businesses in the United States:

  • Represent 99.9 percent of all businesses with employees
  • Employ nearly 48 percent of private sector employees
  • Pay 40.8 percent of the total payroll of private sector employees
  • Constitute nearly 98 percent of firms exporting goods
  • Have generated 1.9 million net new jobs

Small Business Committee Members Introduce Bipartisan Small Business Saturday Resolution

Tue, 11/13/2018 - 12:00am

WASHINGTON – Today, Members of the House Small Business Committee joined together to introduce a bipartisan House resolution recognizing the Saturday after Thanksgiving, November 24, 2018, as “Small Business Saturday.”

“Small Business Saturday is an incredible opportunity for communities to rally around the more than 30 million small businesses during the holiday season,” said Small Business Committee Chairman Steve Chabot (R-OH). “With two out of three net new jobs generated from small businesses, it’s vital we ensure they continue to grow. I encourage everyone to shop small on November 24th and support those who are working to achieve the American Dream.”

“Every year, Small Business Saturday gives consumers across the country a special opportunity to focus on the value of patronizing their local Main Street businesses,” said Rep. Nydia M. Velázquez (D-NY), Ranking Member, House Committee on Small Business. “From driving local economic growth to creating good jobs and spurring innovation, small businesses are the backbone of the American economy. I am glad to join Chairman Chabot and my fellow Committee members in a resolution recognizing November 24, 2018 as Small Business Saturday, especially as we continue to work across the aisle on legislation to support America’s 30 million small businesses.”

This resolution underscores the critical role small businesses play in our nation’s thriving economy. The over 30 million small businesses in the United States:

  • Represent 99.9 percent of all businesses with employees
  • Employ nearly 48 percent of private sector employees
  • Pay 40.8 percent of the total payroll of private sector employees
  • Constitute nearly 98 percent of firms exporting goods
  • Have generated 1.9 million net new jobs

Chairman Chabot Recognizes National Veterans Small Business Week

Mon, 11/05/2018 - 12:00am

WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement in recognition of National Veterans Small Business Week; November 5-9, 2018. According to the United States Small Business Administration, there are 2.5 million veteran-owned small businesses in the United States, with a 3 percent growth from 2007-2012.

“Our nation’s heroes work hard to preserve and protect the homeland. They deserve to have the necessary resources to bring their business dreams to life as they continue to contribute to the American economy. With nearly one in ten small businesses owned by a veteran, it’s critical we work together to ensure our veteran entrepreneurs have the tools they need to succeed.”

This Congress, Chairman Chabot is an original co-sponsor of H.Res. 588, which supports National Veterans Small Business Week.

Chairman Chabot Recognizes National Veterans Small Business Week

Mon, 11/05/2018 - 12:00am

WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement in recognition of National Veterans Small Business Week; November 5-9, 2018. According to the United States Small Business Administration, there are 2.5 million veteran-owned small businesses in the United States, with a 3 percent growth from 2007-2012.

“Our nation’s heroes work hard to preserve and protect the homeland. They deserve to have the necessary resources to bring their business dreams to life as they continue to contribute to the American economy. With nearly one in ten small businesses owned by a veteran, it’s critical we work together to ensure our veteran entrepreneurs have the tools they need to succeed.”

This Congress, Chairman Chabot is an original co-sponsor of H.Res. 588, which supports National Veterans Small Business Week.

Chairman Chabot Praises Jobs, Wage Growth, and Economic Boost

Fri, 11/02/2018 - 12:00am

WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the United States Department of Labor announced an additional 250,000 jobs were added in October.

“With 250,000 jobs added this October, unemployment remaining at 3.7 percent, and wage growth at the fastest pace in a decade, America's 30 million small businesses are experiencing a boost in economic growth like never before. I’m pleased to see the positive effects of our economic policies coming to fruition through rising incomes and steady paychecks for millions of Americans.”

To read the full report from the Department of Labor, click here.

Chairman Chabot Praises Jobs, Wage Growth, and Economic Boost

Fri, 11/02/2018 - 12:00am

WASHINGTON – Today, House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the United States Department of Labor announced an additional 250,000 jobs were added in October.

“With 250,000 jobs added this October, unemployment remaining at 3.7 percent, and wage growth at the fastest pace in a decade, America's 30 million small businesses are experiencing a boost in economic growth like never before. I’m pleased to see the positive effects of our economic policies coming to fruition through rising incomes and steady paychecks for millions of Americans.”

To read the full report from the Department of Labor, click here.

Chairman Chabot Celebrates Rule to Increase Access to Health Care Options for Small Business

Thu, 11/01/2018 - 12:00am

WASHINGTON – House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the proposed rule on Health Reimbursement Arrangements (HRA) by the Departments of Labor, Health and Human Services, and the Treasury was published on October 29.

“Since 2013, the year before many of Obamacare’s regulations and mandates took effect, premiums have doubled for Obamacare’s individual health insurance plans. For this reason, this rule is vital for the health of America’s 30 million small businesses. It’s time we foster fairness and balance for large and small businesses alike, so that innovators are able have access to affordable, quality health care options for their families. I am pleased that the Administration is fighting for small business owners and working to eliminate the unnecessary red tape that Obamacare imposed.”

According to the Administration, for firms that employ 3-24 workers, the percentage of workers covered by employer health benefits, has fallen from 44 percent in 2010 to 30 percent in 2018. For firms that employ 25-49 workers, the percentage of workers covered by employer health benefits has fallen from 59 percent in 2010 to 44 percent in 2018. This rule would allow small employers to give their employees funds to pay for health care coverage selected by the employees. Preliminary estimates from the Treasury Department indicate that initially roughly 800,000 employers are expected to provide HRAs that would pay for coverage for more than ten million employees. Chairman Chabot has demonstrated his support of rules to provide more options for small business employers and employees, and also cosponsored H.R. 1101the Small Business Health Fairness Act, which passed the House last year.

Chairman Chabot Celebrates Rule to Increase Access to Health Care Options for Small Business

Thu, 11/01/2018 - 12:00am

WASHINGTON – House Committee on Small Business Chairman Steve Chabot (R-OH) released the following statement after the proposed rule on Health Reimbursement Arrangements (HRA) by the Departments of Labor, Health and Human Services, and the Treasury was published on October 29.

“Since 2013, the year before many of Obamacare’s regulations and mandates took effect, premiums have doubled for Obamacare’s individual health insurance plans. For this reason, this rule is vital for the health of America’s 30 million small businesses. It’s time we foster fairness and balance for large and small businesses alike, so that innovators are able have access to affordable, quality health care options for their families. I am pleased that the Administration is fighting for small business owners and working to eliminate the unnecessary red tape that Obamacare imposed.”

According to the Administration, for firms that employ 3-24 workers, the percentage of workers covered by employer health benefits, has fallen from 44 percent in 2010 to 30 percent in 2018. For firms that employ 25-49 workers, the percentage of workers covered by employer health benefits has fallen from 59 percent in 2010 to 44 percent in 2018. This rule would allow small employers to give their employees funds to pay for health care coverage selected by the employees. Preliminary estimates from the Treasury Department indicate that initially roughly 800,000 employers are expected to provide HRAs that would pay for coverage for more than ten million employees. Chairman Chabot has demonstrated his support of rules to provide more options for small business employers and employees, and also cosponsored H.R. 1101the Small Business Health Fairness Act, which passed the House last year.

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