February 25, 2020
By Caity Witucki
Contributing Editor, Hot Topic Tuesday
Hot Topic Tuesday — SBA Administrator Addresses FY 2021 Budget
Last week, House Small Business Committee Chairwoman Nydia M. Velázquez announced that the newly confirmed head of the Small Business Administration will be testifying before the full Committee on Wednesday, February 26th at 11:30 A.M. Eastern. The hearing is titled “A Discussion with SBA Administrator Jovita Carranza: Current Issues and the FY 2021 Budget,” and will be live-streamed on the House Small Business Committee’s YouTube channel.
Prior to her appointment as the 26th SBA Administrator, Carranza said that she planned to focus on providing more entrepreneurs in disadvantaged communities with access to SBA resources. However, earlier this month, the White House released the Budget of the United States Government for Fiscal Year 2021. The budget requested $739 million in budget authority for the SBA, a $243 million (25%) decrease from the 2020 enacted level. U.S. Senate Committee Ranking Member, Cardin, and House Small Business Committee Chairwoman, Velázquez, have already voiced their concern with how the new budget will affect the SBA’s goals.
At the hearing on Wednesday, House Small Business Committee members will hear Administrator Carranza’s vision for the agency, explore the Administration’s FY 2021 budget request, and have an opportunity to discuss the challenges that exist for small businesses participating in SBA’s programs.
“I am looking forward to the opportunity to gain a greater understanding of Administrator Carranza’s plans to run the agency, which include overseeing billions of dollars in small business loans, ensuring the timely dispersal of disaster assistance, and managing a wide array of entrepreneurial development initiatives across the country,” says Chairwoman Velázquez. “As SBA begins a new chapter under Administrator Carranza’s leadership, the Committee will continue to fulfill our oversight responsibilities to ensure the agency is best serving America’s hardworking entrepreneurs.”
The hearing will be publicly streamed here on February 26th at 11:30 A.M. Eastern.