Roger Williams

So we must get an accurate picture of what money was obtained illegally so we can bring the criminals who took advantage of taxpayers to justice and get money back to the Treasury Department.

The American people need accountability and transparency, and if a small business accounts receivable were as high as the SBA's, they would take all action possible to get this money back.

You would think that a report from a nonpartisan watchdog claiming hundreds of billions of dollars were disbursed to criminals through the SBA would warrant her showing up to this Committee today, but that obviously isn't the case for…

They are concerned about the SEC's push to implement costly environmental, social, and political regulatory requirements.

It is critical that we understand that slashing agency budgets prevents public servants from doing their jobs and serving our constituents.

Do you think it eases it?

This is a hard time for small business. And the Section 1071 rule is an attack on Main Street America.

This out-of-touch rule will only build on these issues.

We don't feel too protected. And ever since you joined the CFPB, your agency continues to add burdensome requirements.

I don't like well-run Texas banks--I want to go on record with this--bailing out badly-run California banks.

Small businesses want to comply. It is just like LIFO. We need to know the rules.

Over the past few years, businesses across the country have struggled to maintain necessary inventory due to the global supply chain constraints.

They have expressed their frustration with insufficient information coming out of Treasury on how to comply and file returns properly.

It literally is going to save Main Street. It is going to save small businesses, and they will pay tax when they need to and not pay tax when they don't need to.

I have been working with my colleagues to pass the Supply Chain Disruptions Relief Act.

We as small business owners can't control that, given the current supply chain disruptions.

Madam Secretary, what action is Treasury taking to educate small businesses like mine in Texas on their upcoming obligations?

This will impact 32 million small businesses that will be expected to comply come 2024.

Well, ask them to do that because it is bipartisan. There are people in here who have all agreed this needs to be done.

When talking to business owners back in my district... they have expressed their frustration.

This proposed rule goes beyond the simple statute and lacks clarity on compliance guidelines.

This is not a partisan issue. It literally is going to save Main Street.

Treasury has the ability to alleviate this financial burden on small businesses and provide relief through Section 473 of the Internal Revenue Code.

As a small business owner and auto dealer, I have dealt with the supply chain challenges firsthand.

I think you see on this committee, we agree to a lot of things, which is important because we need to agree on main street, America and so forth.