August 6, 2019
By Caity Witucki
Contributing Editor, SBA Hot Topic Tuesday
SBA Hot Topic Tuesday – Trump Nominates Carranza as the New Chief of SBA
Last week, President Donald Trump formally announced his intention to nominate U.S. Treasurer, Jovita Carranza, as the new chief of the Small Business Administration.
According to The Guardian, “Carranza is certainly qualified. She’s the U.S. Treasurer, an adviser to the Treasury Secretary, Steven Mnuchin, and previously served as Deputy Administrator at the SBA. Before that, she was a vice-president at United Parcel Services (UPS).”
U.S. Treasury Secretary, Steven T. Mnuchin, issued a statement in April when Carranza was first being considered for the role: “Jovita Carranza is exceptionally qualified to lead the Small Business Administration. As Treasurer of the United States, Jovita played an important role in the passage of the Tax Cuts and Jobs Act, which reduced taxes on small businesses to the lowest level in nearly eighty years and led to the strongest U.S. economy and job markets in generations. Jovita’s experience—including time as Deputy Administrator for the Small Business Administration—will be an asset to President Trump and the SBA, as they continue to promote pro-growth economic policies, eliminate job-killing regulations and fight for the small businesses that are the lifeblood of the American economy.”
However, Carranza will have her work cut out for her. “The agency – which has close to 70 offices and 3,000 employees suffers from a severe lack of awareness among the small business community and faces regular threats of elimination, or at least, consolidation into the Department of Commerce,” says The Guardian columnist, Gene Marks.
Although the SBA has not experienced many changes over the past couple of decades, Carranza is expected to refocus and expand the Small Business Administration to make it better.