During a House Small Business Committee hearing, Rep. Roger Williams (R-TX) asked Small Business Administrator Kelly Loeffler about loan programs and the Trump Administration approach.
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00:00Administrator Leffler, I'm honored to work with you and President Trump to revitalize American manufacturing.
00:06And to fuel these efforts, I introduced H.R. 3174, the Made in America Manufacturing Finance Act,
00:12along with Senate Small Business and Entrepreneurship Committee Chair Ernst,
00:16to increase access to capital for America's small manufacturers.
00:20H.R. 3174 increases the maximum SBA loan size for small manufacturers from $5 million to $10 million.
00:26This bill addresses a concern that members from both sides of the aisle have discussed.
00:31So, Administrator Leffler, can you explain how increasing access to capital in SBA lending programs
00:36will actually help America's small manufacturers?
00:40Thank you, Chairman, and thank you for the opportunity to visit your district last week.
00:44It was wonderful to visit two manufacturers, Staccato and Ida Mae Home.
00:48It was really confirmative of our move to expand access to capital for manufacturers.
00:53We see that Made in America is happening and it's growing across this country.
00:58But what we also see is that our great manufacturers, of which there are thousands in everyone's home state
01:04and they're growing, is that advanced manufacturing, robotics, AI,
01:09there's a tremendous opportunity to increase productivity and growth through these factories
01:14by allowing them to invest more.
01:15So, doubling that loan from $5 million to $10 million will provide needed access,
01:20not just for capital equipment, but for hiring and investing in R&D,
01:25which is perfectly timed with the Big Beautiful Bill Act,
01:28which will encourage these manufacturers, which are spring-loaded, to invest and hire in this country.
01:34So, it's all part of the administration's pro-growth, pro-worker agenda
01:39that is going to fuel economic opportunity across every community in America.
01:43So, thank you.
01:44And I do hope to earn the bipartisan support of this committee for your important bill.
01:49One thing we know well in Texas, Washington, D.C., does not know best.
01:56Now, the Biden-Harris administration expanded the SBA's mission to include actions unrelated to entrepreneurs,
02:02such as cutting deals with the state of Michigan, to engage in electioneering efforts in 2024.
02:07So, how have you been right-sizing the SBA and redirecting the agency back to its mission of helping Main Street America?
02:15Chairman, you're right.
02:16We uncovered the MOU that you referenced with the state of Michigan for electioneering voter registration,
02:25and we've certainly heard from other states where that was attempted.
02:27We won't tolerate partisan activity, but we certainly must return to our mission of supporting small businesses on Main Street across this country
02:38and not get distracted from that mission of serving small businesses.
02:42So, we have undertaken an aggressive effort to ensure our loan programs are more available to more entrepreneurs.
02:50That's already working.
02:51We have seen an 80 percent increase in our loan growth to 26,000 loans in President Trump's first 100 days.
02:58So, we're on track for a record year.
03:00That's about 2,000 loans to Main Street across America every single week.
03:06So, we're excited about that refocused mission of this agency.
03:10Now, you have an inspiring background that makes you incredibly well-positioned to fight for Main Street as the head of the SBA.
03:17From businesswoman to senator, you have a unique perspective and knowledge based on what it takes for small businesses to thrive
03:24and how important it is to foster an environment that allows small businesses to do what they do best.
03:30That's why it's critical to pass the One Big Beautiful Bill Act and unleash American entrepreneurship.
03:35So, in the time that I have remaining, can you explain why it is so important to preserve the favorable small business provisions?
03:42Chairman, you're right.
03:43I was raised in a fourth-generation farm family, now five generations.
03:49They also started a small trucking company, great entrepreneurs that never called themselves entrepreneurs,
03:55but had all the challenges facing taxation, excessive regulation.
04:01And this bill, what it does is return power to small businesses by making sure their taxes stay low.
04:07And I was disappointed to see that every Democrat member of this committee voted against small business tax relief.
04:15What it does is provide small businesses that certainty that they will have a 23 percent 199A pass-through deduction.
04:24They will have 179 expensing, accelerated depreciation, 100 percent expensing for Made in America.
04:30And it comes with a $1.6 trillion spending cut that reduces the massive inflation and the cost of government in this country.
04:40That's what taxpayers voted for under President Trump.
04:43This bill is pro-small business, it's pro-worker, and it's pro-growth.
04:48So, we at the SBA are proud to support it.
04:50Thank you very much.
04:51I now recognize, I remain in my time, I now recognize the ranking member for five minutes of questions.