NEW YORK – From Goldman Sachs 10,000 Small Businesses:
As Congress returns to session this week for the first time since the midterm election, and as newly elected members attend orientation, Goldman Sachs 10,000 Small Businesses Voices announces a new grassroots campaign to encourage lawmakers to review the Small Business Administration (SBA ) in 2023 for the first time in more than two decades — a move that would modernize the agency and ensure it is best equipped to meet the needs of today’s small business owners.
The new attempt officially started today with the delivery of a Letter signed by more than 3,000 small business owners from all 50 states calling on members of Congress to work together on legislation to reauthorize the SBA. The program launched a bipartisan television ad featuring both Republican and Democratic senators calling for a modernized SBA. Over the coming months, the new campaign will use public events, paid advertising and other measures to ensure small business owners’ voices are heard in the convention halls.
“Congress helped small businesses weather the COVID-19 pandemic. With a potential recession looming, it’s more important than ever for policymakers to ensure the Small Business Administration is best equipped to meet the needs of today’s small business owners,” said Jill Bommarito, founder and CEO of Ethel’s Baking Company in Shelby Township. Me. “This is an issue that affects every community in every state in our country. It is crucial that we get the job done.”
The last time Congress reauthorized the SBA was in December 2000:
- Tom Brady was a backup quarterback for Drew Bledsoe,
- Jim Carrey’s “How the Grinch Stole Christmas” topped the Christmas box office and
- 68% of the small businesses operating today didn’t exist yet.
While Congress has since enacted important policies to benefit small businesses, it hasn’t taken the step to actually reauthorize the SBA, which will allow lawmakers and the agency to step back and ask in-depth questions about its mission and structure . It offers an opportunity to double down on SBA’s strengths and ensure it can adapt to a shift landscape and continue to serve thousands of small businesses each year.
With President Joe Biden in the White House, Republicans controlling the House, and Democrats controlling the Senate, reauthorizing the SBA might be one of the only things members of both parties can work together to get results for the american people.
“Few things are more important than ensuring small business owners have the tools and resources they need to thrive,” said Joe Wall, national director of Goldman Sachs 10,000 Small Businesses Voices. “That’s why we are fully committed to having Congress reauthorize the SBA next year for the first time in 22 years so that the federal government’s programs and services are better tailored to the needs of small business owners today.”
The full text of the letter, which was delivered to Capitol Hill today, is embedded below. A PDF copy with a list of signers is available for download here.