Velazquez on Oversight of Small Business Administration Programs

WASHINGTON, July 28 /PRNewswire-USNewswire/ -- Rep. Nydia M. Velazquez (D-NY), the Chairwoman of the House Committee on Small Business, delivered the following statement today at a hearing entitled, "Oversight of the Small Business Administration and its Programs:"

"H.Res. 40, which was passed at the beginning of this Congress, amended Clause 2(n) of House Rule XI by requiring that committees undertake intensive and regular examination of executive branch activities.  Such actions are necessary to not only safeguard taxpayer dollars, but to also improve the operations of federal agencies.

"This Committee has taken this role very seriously. We have exceeded the quarterly requirement and held 10 hearings on the Small Business Administration and its programs.  This has included 4 GAO investigations, all of which were requested by this Committee.  

"With 3,500 employees, 84 district and regional offices, and a broad range of programs, congressional oversight is essential to the operation of the SBA.  This ensures that resources are directed more efficiently and effectively to small businesses.  

"We have examined every area of the agency, including its access to capital, entrepreneurial development, and contracting initiatives.  The Committee has convened hearings on the agency's lending programs and how they are meeting the needs of small firms in today's economy.  In addition, we worked with the GAO to oversee the disaster program so that businesses are better able to secure the funds they need to rebuild after a catastrophe.

"A main focus of the Committee's oversight work has been the agency's procurement programs. With large businesses receiving small business contracts and fraud regularly being uncovered, it is critical that the Committee examine these programs.  We will continue our investigations until the agency fully resolves these issues.

"Finally, the Committee has held hearings about the agency's entrepreneurial development and innovation programs.  This has included testimony from a wide range of experts that allowed us to consider how the agency's resources can be improved without unnecessarily increasing taxpayer expense.

"Today's hearing continues the Committee's strong commitment to thorough oversight. Doing so provides a basis for not only taxpayer savings, but also the long-term modernization of the agency.  This is critical because small businesses are counting on the SBA, its staff, and its programs more than at any other time in the past decade.

"The agency has risen to the task before and I know – with all of the resources it has at its disposal – that it will again.  By doing so, we will allow entrepreneurs to do what they do best – create the ideas and the jobs that our economy needs to move forward."

SOURCE Chairwoman Nydia M. Velazquez (D-NY), House Committee on Small Business