WASHINGTON – United States Senator Mary L. Landrieu, D-La., Chair of the Senate Committee on Small Business and Entrepreneurship sent of letter today to the U.S. Small Business Administration (SBA) requesting more detailed information on the impact of the Small Business Jobs Act of 2010 [Public Law 111-240] on small businesses nationwide. More than six months have passed since the passage of the Jobs Act and the SBA has completed implementation of 28 of the bill’s 39 provisions. Despite this progress, information on the success of the bill to date has been limited to SBA lending data and success stories from individual businesses helped by the Jobs Act’s provisions.
“We worked so hard to pass the Jobs Act to give entrepreneurs the avenue to expand or start their business and generate new, good-paying jobs for the millions of Americans out of work,” Senator Landrieu said. “I am pleased that the SBA has worked hard to implement the Jobs Act provisions. The next step is making sure these provisions are getting the much-needed results. Congress must make sure the legislation we worked tirelessly for is serving America today.
“We passed significant legislation, and it’s time to drill down to see the actual benefits. With this data, we will receive a better picture of how the bill is spurring job growth, generating economic activity, and making a difference for small businesses around the country.”
The letter requests that the SBA provide the Committee with information on the five categories of provisions from the Jobs Act:
• Access to Credit
• Trade and Exporting
• Management and Counseling Assistance
• Disaster Loan Improvement
In addition, Senator Landrieu requested more detailed data on:
• estimated jobs created or saved
• businesses assisted or referred
• contracts/dollars awarded
• increases in economic activity
• any benefits or assistance that would not otherwise have been available without Jobs Act provisions
• any additional information that may be of interest to the Committee
Senator Landrieu chaired a hearing last month to examine the federal government’s implementation of the Small Business Jobs Act of 2010 passed last year. SBA and small business owners testified before the Small Business Committee. This letter is a follow up to the review of the implementation process last month.
To see a copy of today’s letter, please click here.
To see the last month’s hearing in its entirety as well as testimony, please click here.