Political Quotes

“I thank Ranking Member Chabot for yielding. Mr. Speaker, my bill, H.R. 2345, the Clarifying the Small Business Runway Extension Act, is a bill that does exactly what it says: makes clear the intent of the Small Business Runway Extension Act of 2018. The Small Business Runway Extension Act of 2018 was simple, straightforward, and unambiguous. It simply extended the Small Business Administration's receipts-based size calculation from a 3-year average to 5 years. Recognizing the significance of this bill for small businesses, the Small Business Runway Extension Act of 2018 easily passed through both the House and Senate and became law on December 17, 2018. Within 4 days of the law's passage, the SBA stalled its implementation, issuing an information notice that effectively contradicted the Small Business Runway Extension Act of 2018 by maintaining the 3-year calculation until the agency could go through the rulemaking process. Coincidentally, or perhaps because of the pressure exerted by Congress and the public, the SBA issued its proposed rule for the Small Business Runway Extension Act of 2018 mere days before Chairman Golden and I held a hearing in the Subcommittee on Contracting and Infrastructure to hold the SBA accountable for its delay. Unfortunately, the proposed rule still maintains the current 3- year standard in SBA regulations.…”