Good Morning, Thank you all for being with us today. I call this hearing to order.
To bolster our economy,
In light of this,
Along with identifying areas of overlap in government financial assistance programs, GAO has offered recommendations to federal government agencies on best practices to ensure that programs are meeting their goals.
Progress in eliminating overlap, however, is dependent on the agencies placing a priority on implementing GAO's recommendations and best practices. Not only will this help agencies focus on programmatic improvements, but it will also provide entrepreneurs and government resource partners with a clear understanding of the goals of each program and how it can best work for local businesses.
Unfortunately, the agencies have not taken GAO's recommendations as seriously as we had hoped, and we still have three programs, spread across two different federal agencies, that can offer similar assistance in the form of government-guaranteed loans to similar beneficiaries - in this case - small businesses.
Today we are here to learn what steps agencies have taken to implement GAO's recommendations to eliminate duplication in the federal guaranteed lending programs and what legislative changes, if any, are necessary to assist these agencies in their efforts to eliminate overlap and duplication.
With that, I would again like to again thank our witnesses for being here today and I yield to Ranking Member Murphy for his opening statement.
Read this original document at: http://smbiz.house.gov/UploadedFiles/2.6.2014_Opening_Statement-Press.pdf
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