FEDERALhearing transcript

Congressional Hearing on Small Business and the Economy

Original title: JOB CREATION, COMPETITION, AND SMALL BUSINESS' ROLE IN THE UNITED STATES ECONOMY

January 1, 2018

small business economic growth access to capital tax policy lending job creation

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The Frame

What this does

This hearing serves as a formal record of Congressional inquiry into how federal tax and lending policies affect the ability of small businesses to secure capital and create jobs.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Small business owners

They are the primary subjects of the committee's inquiry regarding access to capital and the impact of federal tax policies.

Goldman Sachs

The firm provided research and initiatives that were cited as models for potential federal policy.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

The House Committee on Small Business held a hearing on February 14, 2018, to discuss the role of small businesses in the U.S. economy. The discussion focused on the impact of recent tax changes, the current lending environment for small firms, and strategies to improve access to capital for entrepreneurs.

Key Facts

The hearing was held on February 14, 2018, in the Rayburn House Office Building.
Chairman Chabot stated that small businesses face a rigid lending environment compared to large corporations.
The committee discussed the '10,000 Small Businesses Initiative' by Goldman Sachs, which has assisted over 7,000 firms.
The hearing addressed the impact of recent tax cuts on employee bonuses at both large and small companies.
Research presented suggests that credit market access remains uneven across urban and rural areas.
The committee heard testimony from three witnesses: Steven H. Strongin, JR Foster, and Jessica Johnson-Cope.

Frequently Asked Questions

What was the purpose of this hearing?

To examine the role of small businesses in the American economy and discuss how the federal government can improve access to capital for small business owners.

Who testified at the hearing?

Steven H. Strongin (Goldman Sachs), JR Foster (Robert Louis Group), and Jessica Johnson-Cope (Johnson Security Bureau, Inc.).

Why It Matters

This hearing serves as a formal record of Congressional inquiry into how federal tax and lending policies affect the ability of small businesses to secure capital and create jobs.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Focus on Private-Public Partnerships

The committee explicitly discussed mimicking private sector initiatives like Goldman Sachs' '10,000 Small Businesses' to inform federal policy.

Goldman Sachs House Committee on Small Business

Connected Entities

organizationGoldman Sachs“Provided research on credit markets and the 10,000 Small Businesses Initiative”Map →

organizationHouse Committee on Small Business“The committee conducting the hearing”Map →

personNydia Velazquez“Ranking Member of the House Committee on Small Business”Map →

personJessica Johnson-Cope“President of Johnson Security Bureau, Inc.”Map →

personSteve Chabot“Chairman of the House Committee on Small Business”Map →

personJR Foster“CEO of Robert Louis Group”Map →

personSteven H. Strongin“Head of Global Investment Research at Goldman Sachs”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance40
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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