The U.S. House Committee on Small Business held a Hearing on the Impact of Online Advertising on Small Firms last Wednesday, and one of the speakers on the witness list was Tim Carter, Founder of AskTheBuilder.com.

ClickZ summarized the hearing, which ultimately revealed that House members oppose online ad regulation for the time being.

While witnesses touted online advertising, and search engine marketing in particular, Democratic Congressman Charlie Gonzalez suggested more industry regulation may be needed sometime down the road, and indicated Yahoo’s search ad agreement with Google could be an impetus.

“The issue is you may reach a point where there is a problem, but you just don’t have the competition or the players to do anything about remedying the problem,” said Gonzalez in regards to potential monopolies in the online ad industry. Calling competition a good thing, the Texas Representative said the Google-Yahoo deal needs to be explored further by Congress. It has already received some government inspection.

Watch Tim in action on Capitol Hill at http://www.youtube.com/watch?v=dhSwZb49WKs and read Tim’s testimony.

Nice work, Tim. Great to see you spreading the word to the folks in Washington.

See Tim Carter speak about online video at the last Affiliate Summit at http://www.affiliatesummit.tv.