Today, Sen. David Vitter (R-La.) announced that he’s been elected as the Chairman of the Small Business & Entrepreneurship Committee in the 114th Congress. Sen. Ben Cardin (D-Md.) will serve as the Ranking Member.

“The reason why the saying ‘small business is the backbone of the American economy’ is so popular is because it’s true,” said Vitter. “In my new role, I am committed to shaping policy that helps all of America’s businesses. We will make important efforts to grow our energy industry, get rid of the government impediments to growth, reduce the tax burden on small businesses, and of course, repeal and replace Obamacare.”

The Small Business & Entrepreneurship Committee has jurisdiction over the Small Business Administration, and also provides oversight of federal regulations affecting small businesses. Vitter is expected to announce the Committee’s first hearing in the coming days.

Republican members sitting on the Committee include Sens. Jim Risch (R-Idaho), Mike Enzi (R-Wyo.), Rand Paul (R-Ky.), Marco Rubio (R-Fla.), Kelly Ayotte (R- N.H.), Deb Fischer (R-Neb.), Tim Scott (R- S.C.), Cory Gardner (R-Colo.), and Joni Ernst (R-Iowa).

Democrats named to the Committee include Sens. Ben Cardin (D-Md.), Maria Cantwell (D-Wash.), Jeanne Shaheen (D-N.H.), Heidi Heitkamp (D-N.D.), Ed Markey (D-Mass.), Cory Booker (D-N.J.), Chris Coons (D-Del.), Mazie Hirono (D-Hawaii), and Gary Peters (D-Mich.).