"Ernst to Biden-Harris SBA: Stop Playing Politics, Picking Winners and Losers"
Summary
A press release dated September 12, 2024 from the U.S. Senate Small Business and Entrepreneurship Committee, issued for Ranking Member Joni Ernst (R-Iowa), criticizing the Small Business Administration's Green Lending Initiative. The release states that the SBA opened applications that week for three new Small Business Lending Company (SBLC) licenses and an unlimited number of Community Advantage (CA) SBLC licenses. It says the programs will prioritize "reducing climate change" and quotes Ernst saying the levers of government should never be used to pick winners and losers based on political priorities. A background section says Ernst questioned the Green Lending Initiative in August and, the previous year, demanded that the SBA change course on lending changes the release attributes to Vice President Harris.
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Full text
Title: Ernst to Biden-Harris SBA: Stop Playing Politics, Picking Winners and Losers Date: 2024-09-12 Ernst to Biden-Harris SBA: Stop Playing Politics, Picking Winners and Losers September 12, 2024 Read the release on Sen. Ernst's website HERE. WASHINGTON – U.S. Senate Small Business and Entrepreneurship Committee Ranking Member Joni Ernst (R-Iowa) blasted the Biden-Harris Small Business Administration (SBA) for expanding its out-of-touch Green Lending Initiative. This week, the SBA opened applications for three new Small Business Lending Company (SBLC) licenses and an unlimited number of Community Advantage (CA) SBLC licenses. The programs will prioritize “reducing climate change,” instead of the $1.68 trillion regulatory burden that is disproportionately impacting small businesses already operating on razor-thin margins. “The Biden-Harris administration talks about creating an ‘opportunity economy,’ but the only opportunities seem to be for radical left-wing climate groups,” said Ranking Member Ernst. “The levers of government should never be used to pick winners and losers based on political priorities. Instead of wasting tax dollars on another Green New Deal program, the SBA needs to prioritize lowering costs for the millions of small businesses struggling from the Biden-Harris 20 percent inflation price hike.” Background: In August, Ernst questioned the SBA’s new Green Lending Initiative, which dramatically changed lending programs in order to push one of Vice President Harris’ key Green New Deal priorities at the expense of small businesses. Last year, Ernst demanded the SBA change course on irresponsible lending changes championed by Vice President Harris that would lead to predatory loans. ### Permalink: https://www.sbc.senate.gov/public/index.cfm/2024/9/ernst-to-biden-harris-sba-stop-playing-politics-picking-winners-and-losers
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