President Barack Obama wants to consolidate several federal agencies responsible for items regarding business, he said in a Monday interview with MSNBC’s “Morning Joe” program.
“We should have one secretary of business, instead of nine different departments that are dealing with things like getting loans to SBA (Small Business Administration) or helping companies with exports,” Obama said. “There should be a one-stop shop.”
Obama originally proposed a merger of several business-related in agencies in January by seeking reorganizational authority from Congress.
That plan included placing under one roof the Commerce Department‘s core business and trade functions, the SBA, the Office of the U.S. Trade Representative, the Export-Import Bank, the Overseas Private Investment Corporation and the Trade and Development Agency.
According to Kent Hoover’s report for the Business Journal, the SBA currently has separate committees in both chambers of Congress, while the chambers also have separate commerce committees.