House Committee Passes Eight Bills to Strengthen Small Business Ecosystem

Congressman Roger Williams, Chairman of the House Committee on Small Business, led a full committee markup where all eight bills under consideration received unanimous approval from the committee. The bills address diverse aspects of small business operations, from fraud investigations to regulation compliance.

Chairman Williams said, “The bills that were marked up today truly reflect this Committee’s dedication to solving the issues facing America’s small businesses.” He expressed gratitude towards colleagues on both sides of the aisle for their concerted efforts to advocate for the nation’s job creators.

Among the bills passed is H.R. 4666, requiring the Inspector General of the Small Business Administration (SBA) to submit quarterly reports on fraud investigations related to the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDLs). It was introduced by Reps. Bean and Mfume, the bill seeks to improve transparency and oversight in these key pandemic recovery programs.

The “RECLAIM Taxpayer Funds Act” (H.R. 4667), introduced by Reps. Salazar and McGarvey also earned approval. The bill mandates SBA to ensure robust processes are in place to adequately accept, process, and account for PPP funds returned by borrowers, lenders, and financial institutions.

Reps. Davids and Alford introduced the “SERV ACT” (H.R. 4480), which calls for a Government Accountability Office report on veteran small business owners’ access to capital and requires the development of an outreach plan for veterans returning to civilian life.

Further, the “Small Business Contracting Transparency Act of 2023” (H.R. 4670) presented by Reps. Houlahan, Scholten, and Stauber will necessitate the SBA to report on certification activities and contract awards within the Women’s Owned Small Business (WOSB), Historically Underutilized Business Zones (HUBZone), and Service-Disabled Veteran Owned Small Business (SDVOSB) programs.

The “POST IT Act” (H.R. 4668) introduced by Rep. Molinaro, aims to create a centralized location for businesses to find all compliance-related information.

In a similar vein, the “DOE and SBA Research Act” (H.R. 4669) by Rep. LaLota, allows for SBA and the Department of Energy’s National Laboratories to conduct joint research and development.

H.R. 4671, the “Corrective Action Report Oversight and Accountability Act” by Reps. Gluesenkamp Perez and Meuser was also reported favorably. This bill will enhance transparency regarding contracting goals and agency strategies.

Lastly, the “Small Business Regulatory Reduction Act” (H.R. 3995), introduced by Rep. Van Duyne, mandates the SBA to ensure the cost to small businesses of the administration’s rulemaking is not greater than zero.

Collectively, these bills demonstrate the committee’s commitment to enhance the environment for small businesses and support their continued growth and prosperity. They now move to the House for further deliberation and voting.

Image: Envato Elements

Joshua Sophy Joshua Sophy is the Editor for Small Business Trends and has been a member of the team for 16 years. A professional journalist with 20 years of experience in traditional media and online media, he attended Waynesburg University and is a member of the Society of Professional Journalists. He has held roles of reporter, editor and publisher, having founded his own local newspaper, the Pottsville Free Press.