Ernst Touts New Direction at SBA

WASHINGTON – Chair Joni Ernst (R-Iowa) highlighted the damage done by the Biden administration’s loosening of lending rules, enacting more than $1.8 trillion in costly regulations, and rampant fraud within COVID programs during a U.S. Senate Committee on Small Business and Entrepreneurship hearing on the nominations of William Briggs to serve as Deputy Administrator of the Small Business Administration (SBA) and Dr. Casey Mulligan to serve as Chief Counsel for Advocacy.

Click here to watch Chair Ernst’s questioning.

Ernst began her questioning by speaking with Briggs about a concerning rise in defaults and decrease in revenue within the 7(a) loan program that threatens to force taxpayers to foot the bill.

She went on to speak with Dr. Mulligan about the urgent need to bring relief to Main Street by passing her Prove It Act, which would require federal agencies to demonstrate that any new regulation is compliant with existing laws and considers both the direct and indirect cost on small businesses.

Ernst discussed with Briggs how he would work to improve critical relief programs at the SBA after the previous administration routinely fell short in helping victims in need. Most notably during a 66-day disaster funding shortfall but also in assisting Iowans following devasting tornados and flooding last year.

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