United States Senate Committee On Small Business and Entrepreneurship - History

History

The Senate Committee on Small Business was first established as the Select Committee on Small Business on February 20, 1950, with approval of Senate Resolution 58 during the 81st Congress. That first committee had just nine members. It was the first select committee created by the Senate that still operates today.

The committee's jurisdiction has been changed several times since it was first created, through additional powers or by changing the manner in which committee members are appointed. While first established as a select committee with limited responsibilities, it now possesses virtually all the characteristics of a standing committee, as outlined under Senate Rule 25.

During the 96th Congress, the committee acted on legislation to reauthorize the Small Business Administration that expanded the agency to include loan programs for employee ownership, Small Business Development Centers, and increased export development assistance for small businesses.

Since its creation, the committee has held hearings on paperwork reduction and elimination (which eventually led to the Paperwork Reduction Act), capital formation, tax and securities law reform for small business, steel plant shutdowns, and the impact of inflation on governmental actions on the housing industry.

The committee was changed to the Committee on Small Business and Entrepreneurship beginning in 1981.