Chairman Williams' Bill to Go After Stolen Pandemic Loan Funds Heads to House Floor (January 31, 2024)

Summary

A press release dated January 31, 2024 states that Congressman Roger Williams (R-TX), Chairman of the House Committee on Small Business, released a statement after his bill, H.R. 7129, The Put America on Commission Act of 2024, passed out of Committee. The statement says the SBA's Office of Inspector General estimates that $200 billion dollars in fraud flowed through the pandemic lending programs. The background section says the bill establishes an Office of Whistleblower Awards within the SBA, with monetary awards for credible tips on stolen funds if the tip results in a conviction.

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Chairman Williams’ Bill to Go After Stolen Pandemic Loan Funds Heads to House Floor
Source(print): https://smallbusiness.house.gov/news/documentprint.aspx?DocumentID=405863

Chairman Williams’ Bill to Go After Stolen Pandemic Loan Funds Heads to House Floor 

 smallbusiness.house.gov 

 Cmte Small Business (R) 

 Contact: 

 Chairman Williams’ Bill to Go After Stolen Pandemic Loan Funds Heads to House Floor 

 Washington ,
 January 31, 2024 
 -

 WASHINGTON, D.C. – Today, Congressman Roger Williams (R-TX), Chairman of the House Committee on Small Business, released the following statement after his bill, H.R. 7129, The Put America on Commission Act of 2024, passed out of Committee. 
 “The SBA’s Office of Inspector General estimates that $200 billion dollars in fraud flowed through the pandemic lending programs,” said Chairman Williams. “We must think of innovative ways to help get this money back for the American people, and as a business owner, I know that incentives matter. This legislation will empower people to provide information to the Inspector General and be rewarded monetarily. Commission works, and I am happy to bring my private sector experience to the forefront within the Committee on Small Business.” 
 The text of the bill can be found here . 
 Background: 
 The Committee learned, through a hearing with the Small Business Administration (SBA) Office of Inspector General (SBA OIG) last year, that the SBA was subjected to an estimated $200 billion in COVID-19 fraudulent loans. This bill maximizes recovery efforts of fraudulent pandemic loan funds by establishing an Office of Whistleblower Awards within the SBA. Individuals that come forward with credible tips on stolen funds will receive a monetary award if the tip results in a conviction. This new office will be established within the SBA’s existing Office of Performance, Planning, and Chief Financial Officer. 
 All Republican Members of the Committee on Small Business have signed on as original co-sponsors of this legislation: 
 
 Rep. Roger Williams (TX-25), Chairman 
 Rep. Blaine Luetkemeyer (MO-03), Vice Chairman 
 Rep. Pete Stauber (MN-08) 
 Rep. Dan Meuser (PA-09) 
 Rep. Beth Van Duyne (TX-24) 
 Rep. Maria Salazar (FL-27) 
 Rep. Tracey Mann (KS-01) 
 Rep. Jake Ellzey (TX-06) 
 Rep. Marc Molinaro (NY-19) 
 Rep. Mark Alford (MO-04) 
 Rep. Eli Crane (AZ-02) 
 Rep. Aaron Bean (FL-04) 
 Rep. Wesley Hunt (TX-38) 
 Rep. Nick LaLota (NY-01) 
 Rep. Celeste Maloy (UT-02) 
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