January 18, 2024
Testimony on: Avenues to Capital Access
In testimony before the U.S. House of Representatives Committee on Small Business, AAF President Douglas Holtz-Eakin discusses access to capital and the growth prospects of America’s small businesses.
His key points:
- The current macroeconomy is characterized by slowing economic growth, the stubborn remainder of high inflation, and the challenge of returning inflation to the Federal Reserve’s 2 percent target;
- In general, the Biden Administration is imposing regulatory burdens at a record rate, while the Basel III endgame capital rules threaten to needlessly raise the cost of all credit products; and
- Additional policy uncertainty stems from the budgetary outlook, the tax treatment of investments and research and development expenditures, and the 2025 sunsets of broad swaths of the 2017 tax law.