C-Suite Wednesday — Jim Risch Named Senate Small Biz Head, House Introduces Small Biz Bills

January 4, 2017

By Bob Coleman
Editor, C-Suite Wednesday

C-Suite Wednesday — Jim Risch Named Senate Small Biz Head, House Introduces Small Biz Bills

Republican Idaho Senator Jim Risch has formally been chosen as head of the Small Business Committee.

Senator Risch previously supported the SBA 504 refinance act.

Unknown, is his position on previous chairman David Vitter’s bill to lower the federal government tax on SBA 7(a) secondary market premiums — lowering the threshold of splitting premiums from 110 to 108.

That bill passed the Senate, but died when no corresponding bill was introduced in the House.

On the other side of Congress, House Small Business Committee Chairman, Steve Chabot has introduced two small business friendly bills in just two days.

Today’s bill will allow angel investor groups established by local governments, non-profits, universities and other organizations to host events designed to let entrepreneurs showcase their work and connect with potential backers.

“When entrepreneurs are looking for ways to access the early capital they need to get off the ground, they look at every avenue available to them,” says Chairman Chabot. “If we’re going to help open doors for the next generation of job creators, we need to take the same approach. This measure will help startups and investors cut through unnecessary red tape and provide them with new opportunities to succeed.”

Yesterday’s bill, the Small Business Regulatory Flexibility Improvements Act, proposes to reduce the regulatory burden on small businesses and entrepreneurs.

“Small businesses are often hit first and worst by regulatory decisions made by Washington bureaucrats with little to no consideration about what they will mean for small businesses and their employees,” says Chairman Chabot. “The Small Business Regulatory Flexibility Improvements Act represents a better way to grow our economy by ensuring that small businesses are no longer an afterthought in federal rulemaking. By giving small businesses and the people who depend on them a say in the regulations they must live under, it will force the federal government to think about what is best for our job creators before it acts, not after.”