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Small Business

Timmons, Levin Introduce Bipartisan Bill to Expand Credit Access for Veterans

| Posted in Press Releases

Rep. William Timmons (R-SC) and Rep. Mike Levin (D-CA) recently introduced H.R. 8758, the Building Credit Access for Veterans Act to help expand credit options for veterans and members of the Armed Forces who are eligible for Department of Veterans Affairs (VA) housing or small business loans and have an insufficient credit history. This bill requires the VA to evaluate the use of…

Timmons Opposes Reckless Tax Hikes and Spending

| Posted in Press Releases

Congressman William Timmons (SC-04) released the following statement after voting against the Democrats' latest spending bill. “Americans are feeling the effects of the Biden economy and 40-year-high-inflation at the grocery store, at the pump, and at the end of the month trying to make ends meet. Instead of real relief from the rising costs, today Democrats handed the American people…

Timmons Statement on GDP Numbers Indicating Economic Recession

| Posted in Press Releases

In response to the preliminary estimate released by the Bureau of Economic Analysis showing that real gross domestic product (GDP) decreased at an annual rate of 0.9% in the second quarter of 2022, marking two consecutive quarters of negative GDP growth, Congressman William Timmons (SC-04) released the following statement: “No matter how the Biden Administration tries to spin it,…

Timmons and Senator Scott Urge CFPB to Reconsider Rule Harming South Carolina Farmers

| Posted in Press Releases

Congressman William Timmons (SC-04) and Senator Tim Scott (R-SC) sent a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra regarding a new data collection rule that would place undue burden on South Carolina small business owners, farmers, and lenders. “We feel that the CFPB has failed to take the appropriate steps to engage with these institutions on this…

Timmons Introduces Legislation to Help Entrepreneurs Access More Capital

| Posted in Press Releases

Washington, DC — Congressman William Timmons (SC-04) recently introduced H.R. 4243, the Improving Capital Allocation for Newcomers (ICAN) Act of 2021. This bill modifies the Qualifying Venture Capital Fund Exemption under Section 3(c)(1) of the Investment Company Act of 1940 by increasing the cap from $10 million to $150 million and increasing the allowable number of investors from 250 to…

Timmons Statement on DOJs Paycheck Protection Program Fraud Enforcement Efforts

| Posted in Press Releases

Today, Acting Assistant Attorney General Brian C. Rabbitt of the Criminal Division announced new charges and progress in Paycheck Protection Program Fraud cases. Since the program was enacted, 57 people have been charged with Paycheck Protection Program fraud. Congressman William Timmons (SC-04) released the following statement: “I applaud the Department of Justice for taking…