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Read. Follow. Verify.House Small Business Committee Hearing: The American Dream and Small Business
Record date · January 1, 2023
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What This Bill Does
The House Committee on Small Business held its first hearing of the 118th Congress to discuss the challenges and experiences of American entrepreneurs. The session featured testimony from four small business owners and banking representatives regarding the current economic climate.
This hearing serves as the foundational policy-setting session for the 118th Congress's Small Business Committee, identifying the primary economic concerns—such as inflation, labor shortages, and supply chain issues—that will guide future legislative priorities for small business owners.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Small business owners
The committee is evaluating policy changes that directly impact the regulatory and economic environment in which these businesses operate.
House Committee on Small Business members
Members are responsible for drafting and reviewing legislation based on the testimony provided.
Key Facts
- The hearing took place on February 28, 2023, in the Rayburn House Office Building.
- The committee identified five primary challenges facing small businesses: COVID-19 pandemic impacts, inflation, supply chain disruptions, high interest rates, and national labor shortages.
- Small businesses account for more than half of the total payroll in the United States.
- The committee heard testimony from four witnesses: Zan Prince (First Bank Texas), Drew Davis (Crippling Hot Sauce), Roy Heim (Heim Construction Company), and Corrine Hendrickson (Corrine's Little Explorers).
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- The hearing was the first session of the 118th Congress for the Committee on Small Business.
- No questions or answers for the record were submitted following the hearing.
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Discoveries
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Focus on Economic Headwinds
The committee explicitly framed the 118th Congress agenda around five specific economic stressors: inflation, supply chains, interest rates, labor shortages, and pandemic recovery.
Connected Entities
Sources
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Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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