Markup Of: H.R. 4256, "Investing In Main Street Act Of 2021", H.R. 4481, "Small Business 7(A) Loan Agent Transparency Act", H.R. 4531, "7(A) Loan Agent…
Summary
Markup transcript of the House Committee on Small Business, hearing of July 29, 2021, Small Business Committee Document Number 117-029, with Nydia Velazquez as Chairwoman. The bills named in the heading include the Investing in Main Street Act of 2021 and the Small Business 7(A) Loan Agent Transparency Act. In opening statements, Chairwoman Velazquez and Ranking Member Luetkemeyer describe bills on capital access, cybersecurity and veteran entrepreneurs. Ms. Chu and Mr. Garbarino speak on the Investing in Main Street Act of 2021, which would raise the amount banks can invest in SBICs from 5 percent to 15 percent. The closing portion states that the ayes have it and H.R. 4513 is reported to the House.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Cite this document
“Markup Of: H.R. 4256, ‘Investing In Main Street Act Of 2021’, H.R. 4481, ‘Small Business 7(A) Loan Agent Transparency Act’, H.R. 4531, ‘7(A) Loan Agent….”
Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/committee-1eac0b9e06b4cdf6/
, SHA-256 43bd441112ecf6e806757850e8745a575da9fb025717055d4a866445a387c211.Full text
[House Hearing, 117 Congress]
[From the U.S. Government Publishing Office]
MARKUP OF: H.R. 4256, ``INVESTING IN MAIN STREET ACT OF 2021'', H.R.
4481, ``SMALL BUSINESS 7(A) LOAN AGENT TRANSPARENCY ACT'', H.R. 4531,
``7(A) LOAN AGENT OVERSIGHT ACT'', H.R. 3469, ``VETERAN
ENTREPRENEURSHIP TRAINING ACT OF 2021'', H.R. 3462, ``SBA CYBER
AWARENESS ACT'', H.R. 4515, ``SMALL BUSINESS DEVELOPMENT CENTER CYBER
TRAINING ACT OF 2021'', H.R. 4513, ``SMALL BUSINESS ADVANCED
CYBERSECURITY ENHANCEMENTS ACT OF 2021''
HEARING
BEFORE THE
COMMITTEE ON SMALL BUSINESS
UNITED STATES
HOUSE OF REPRESENTATIVES
ONE HUNDRED SEVENTEENTH CONGRESS
FIRST SESSION
__________
HEARING HELD
JULY 29, 2021
__________
[GRAPHIC NOT AVAILABLE IN TIFF FORMAT]
Small Business Committee Document Number 117-029
Available via the GPO Website: www.govinfo.gov
__________
U.S. GOVERNMENT PUBLISHING OFFICE
45-660 WASHINGTON : 2021
-----------------------------------------------------------------------------------
HOUSE COMMITTEE ON SMALL BUSINESS
NYDIA VELAZQUEZ, New York, Chairwoman
JARED GOLDEN, Maine
JASON CROW, Colorado
SHARICE DAVIDS, Kansas
KWEISI MFUME, Maryland
DEAN PHILLIPS, Minnesota
MARIE NEWMAN, Illinois
CAROLYN BOURDEAUX, Georgia
TROY CARTER, Louisiana
JUDY CHU, California
DWIGHT EVANS, Pennsylvania
ANTONIO DELGADO, New York
CHRISSY HOULAHAN, Pennsylvania
ANDY KIM, New Jersey
ANGIE CRAIG, Minnesota
BLAINE LUETKEMEYER, Missouri, Ranking Member
ROGER WILLIAMS, Texas
JIM HAGEDORN, Minnesota
PETE STAUBER, Minnesota
DAN MEUSER, Pennsylvania
CLAUDIA TENNEY, New York
ANDREW GARBARINO, New York
YOUNG KIM, California
BETH VAN DUYNE, Texas
BYRON DONALDS, Florida
MARIA SALAZAR, Florida
SCOTT FITZGERALD, Wisconsin
Melissa Jung, Majority Staff Director
Ellen Harrington, Majority Deputy Staff Director
David Planning, Staff Director
C O N T E N T S
OPENING STATEMENTS
Page
Hon. Nydia Velazquez............................................. 1
Hon. Blaine Luetkemeyer.......................................... 2
APPENDIX
Additional Material for the Record:
H.R. 4256.................................................... 20
H.R. 4481.................................................... 22
H.R. 4531.................................................... 26
H.R. 3469.................................................... 29
H.R. 3462.................................................... 38
H.R. 4515.................................................... 43
H.R. 4513.................................................... 47
Mark-up Remarks--Boots to Business submitted by Rep. Brad
Schneider.................................................. 57
America's SBDC............................................... 61
MARKUP OF: H.R. 4256, ``INVESTING IN MAIN STREET ACT OF 2021'', H.R.
4481, ``SMALL BUSINESS 7(A) LOAN AGENT TRANSPARENCY ACT'', H.R. 4531,
``7(A) LOAN AGENT OVERSIGHT ACT'', H.R. 3469, ``VETERAN
ENTREPRENEURSHIP TRAINING ACT OF 2021'', H.R. 3462, ``SBA CYBER
AWARENESS ACT'', H.R. 4515, ``SMALL BUSINESS DEVELOPMENT CENTER CYBER
TRAINING ACT OF 2021'', H.R. 4513, ``SMALL BUSINESS ADVANCED
CYBERSECURITY ENHANCEMENTS ACT OF 2021''
----------
THURSDAY, JULY 29, 2021
House of Representatives,
Committee on Small Business,
Washington, DC.
The committee met, pursuant to call, at 10:01 a.m., in Room
2360 Rayburn House Office Building and via Zoom, Hon. Nydia
Velazquez [chairwoman of the Committee] presiding.
Present: Representatives Velazquez, Golden, Crow, Davids,
Mfume, Phillips, Newman, Carter, Bourdeaux, Chu, Evans,
Delgado, Houlahan, Andy Kim, Craig, Luetkemeyer, Williams,
Stauber, Meuser, Tenney, Garbarino, Young Kim, Van Duyne,
Donalds, and Fitzgerald.
Chairwoman VELAZQUEZ. Good morning. With a quorum being
present, I call this morning's meeting of the Committee on
Small Business to order. Without objection, the Chair is
authorized to declare recess at any time.
I would like to begin by noting some important
requirements. In accordance with the Attending Physician's most
recent guidance, all Members and staff who attend this hybrid
markup in person will be required to wear masks in the hearing
room. Furthermore, all Members and staff who have not been
fully vaccinated must also maintain 6-foot social distancing
from others. With that said, Members will be allowed to briefly
remove their masks if they have been recognized to speak.
As required by House rule, copies of the measures have been
made available to Members and the public at least 24 hours in
advance.
Today, we will be considering seven bipartisan bills that
will make it easier for small business owners across America to
launch and grow their small businesses. As we know, access to
capital remains one of the biggest challenges facing small
businesses today, and we will take up three bills to improve
SBA programs to meet the capital needs for small firms.
Besides access to capital, cybersecurity is increasingly
becoming a threat to entrepreneurial success. To that end, we
will consider three bills to address the increasing and
evolving cyber attacks aimed at small businesses.
Finally, we will also take up a bill to assist aspiring
veteran entrepreneurs who have made many sacrifices for our
country.
Before we get down to business, I would like to thank the
Ranking Member, Mr. Leutkemeyer, for his collaboration on these
seven bills, as well as the staff of the Small Business
Committee from both sides. I look forward to working on many
more. Our small businesses depend on our bipartisanship and
cooperation now more than ever.
The seven bills that we are considering today are a product
of the hearings and hard bipartisan work of our Members. I
strongly support each of the seven bills to be marked up today.
I would like to recognize the distinguished Ranking Member,
Mr. Leutkemeyer, for his opening statement.
Mr. LEUTKEMEYER. Thank you, Madam Chair, for holding this
markup. We believe that this legislation that we are talking
about today will help strengthen our nation's job creators and
the Small Business Administration's programs. The SBA, along
with many other Federal agencies, raced to assist the nation as
COVID-19 descended upon America.
Through the quick action taken by the Trump administration
and Congress, numerous small business relief programs were
created to help our nation's smallest firms survive the
pandemic as well as the state and local shutdown orders that
followed. Many of these programs included the Paycheck
Protection Program, PPP, which proved to be a lifeline during
many months of uncertainty. The PPP program also proved to be a
major success through its partnership with private sector
lenders to get money to a struggling small business more
quickly and efficiently.
With that being said, while our country continues to move
forward toward recovery, many of SBA's COVID programs are
nearing completion. For example, nearly 11 million loans
disbursed under PPP are now going through the PPP loan
forgiveness process. Although the PPP has been and continues to
be successful through private sector lending, other programs
have been hampered with countless instances of fraud,
bureaucratic delays, and constitutional questions.
According to the SBA's Inspector General, the Economic
Injury Disaster Loan, EIDL program, which is a direct lending
program through SBA, not private lenders, has been subject to
rampant levels of fraud and abuse. Additionally, the Shuttered
Venue Operators Grant, SVOG program, has been plagued with
inexcusable delays while the Restaurant Revitalization Fund
Program, RRF, has been ruled unconstitutional due to biased
priority groups the Democrats created in the enacting
legislation.
Nevertheless, our nation's small businesses, entrepreneurs,
and startups continue to face extreme obstacles throughout the
recovery due to the Democrat-induced inflation, the looming
labor crisis, and the potential for increased taxes for the
middle class. These headwinds are putting main street, USA's
recovery in jeopardy. We must fix these issues to protect the
American worker.
On that note, I look forward to working with all of my
colleagues today and going forward to discuss pro-growth
policies that will produce an environment where small
businesses can operate independently without the government
standing in their way. While we have these debates it is
critical that we also ensure the SBA's traditional programs are
operating efficiently and effectively, and that is what bring
us to today's markup.
In a bipartisan fashion, Members on both sides of the aisle
have considered and have identified areas where this Committee
can adjust existing SBA programs to better position small
businesses. Many of these bills were in the works in previous
sessions of Congress, but some take a new approach to provide
increased oversight of the SBA's programs. With the SBA's
lending programs, the Small Business Investment Company, SBIC,
continues to provide small businesses across the United States
with access to capital. Today's SBIC legislation will provide
even more access to capital by examining the role of banks and
other savings institutions within the program.
Beyond the SBIC program we have two bills that examine the
role of loan agents within the SBA's 7(a) Loan Program. The
7(a) Loan Program, the SBA's largest traditional lending tool
which provides access to capital for small businesses that
cannot find it elsewhere, as the SBA continues to use more loan
agents within their programs, it is essential that the agency
has a clear view of how these agents operate.
According to an October 2020 report, the SBA's Inspector
General stated, ``Previous OIG audits and investigations have
shown SBA could not effectively identify and track loan agent
involvement in its 7(a) and 504 Loan programs or portfolios and
have outdated enforcement regulations. OIG investigations have
also revealed a pattern of fraud by loan packagers and other
fee-based agents in the 7(a) Loan Program involving hundreds of
millions of dollars.''
The bills before by the gentleman from Pennsylvania, Mr.
Meuser, and the gentleman from Minnesota, Mr. Phillips, will
focus on loan agents and examine the SBA's oversight
capabilities. The discussion of loan agents will not end today.
I look forward to exploring their role within this program and
other SBA programs moving forward.
When it comes to our veterans, the Boots to Business
Program is an important resource available to the men and women
who have valiantly served our country. I commend the gentleman
from Texas, Mr. Williams, and the gentleman from Illinois, Mr.
Schneider, for continuing the Boots to Business effort during
the 117th Congress.
Lastly, the Committee will examine three separate
cybersecurity bills that will address the needs of small
businesses as well as ensuring that SBA has a safe and sound
cyber infrastructure network. As we all heard at our cyber
hearing last week, America's smallest firms are increasingly
vulnerable to the exploits of cybercriminals. Often a cyber
attack on a small business results in a permanent operational
damage to its ecosystem. We must have the structure in place to
assist these small businesses through difficult times and
educate small business owners on the tools available to protect
them from these cyber attacks.
Again, I would like to thank the Chair for bringing these
bills to the Committee. I support the approach taken by the
Committee Members to address these issues.
With that, Madam Chair, I yield back.
Chairwoman VELAZQUEZ. Thank you very much. The gentleman
yields back.
Before we get into the individual bills, are there any
Members present who seek recognition for the purpose of making
an opening statement?
Seeing none, we will move to consideration of H.R. 4256,
the ``Investing in Main Street Act of 2021,'' introduced by
Congresswoman Chu and cosponsored by Congressman Garbarino.
This bill will harmonize the Small Business Investment Act of
1958 with the Office of the Comptroller of the Currency's
national bank charter percentage requirements.
I would now like to recognize the gentlewoman from
California, Ms. Chu, the sponsor of the bill, for an opening
statement.
Ms. CHU. Thank you, Chairwoman Velazquez and Ranking Member
Luetkemeyer for your support of this legislation. Also, thank
you to my colleague, Representative Garbarino, for your
partnership.
The Investing in Main Street Act would make a simple
commonsense change to small business investing laws to ensure
that SBA-certified small business investment centers, or SBICs,
can take full advantage of capital available from traditional
banks and federal saving associations. Even though banking
rules allow financial institutions to invest up to 15 percent
of their capital and surplus in SBICs, small business investing
rules prevent that. The Small Business Investment Act caps
these investments far lower at just 5 percent of capital and
surplus. The Investing in Main Street Act amends this outdated
law to ensure that banks can invest the full 15 percent in
SBICs, a simple change that will dramatically increase the
amount of investment capital available to our country's small
businesses.
By raising this cap, this legislation will deliver more
investments and more financing to our small businesses for whom
even small investments can mean so much. Already SBICs have
helped companies like Tesla, Apple, and Intel get off the
ground back when they were considered small businesses. They
fill a gap in the investment ecosystem and level the playing
field by providing equity investments and financing
opportunities to the smallest businesses which face the highest
barriers to secure investments from traditional private
investors.
In fact, in fiscal year 2020, SBICs made nearly a quarter
of their financing to underserved businesses and the nearly 300
certified SBICs in operation today have invested or committed
$32 billion in small businesses nationwide. Last year, in my
state of California alone, SBICs made nearly 300 financings
totaling over $670 million. By raising the investment cap from
5 percent to 15 percent, we could potentially triple those
numbers in the years to come. That growth will be so important
as our country faces a long economic recovery ahead of us,
especially as the Delta variant threatens to erase some of the
hard-earned gains we made this spring and summer.
America's small businesses have endured one of the most
challenging periods in our country's history and now is the
time to help them rebuild and grow. The Investing in Main
Street Act would do just that. I urge the Committee to vote yes
on this critical legislation, and I yield bank.
Chairwoman VELAZQUEZ. Thank you. The gentlewoman yields
back. I would now like to recognize the gentleman from New
York, Mr. Garbarino, for an opening statement.
Mr. GARBARINO. Thank you, Madam Chair, and thank you
Ranking Member for holding today's markup on all the bills
before us. I would also like to thank Representative Judy Chu
from California for joining forces with me to better support
the SBA's Small Business Investment Company program.
The SBIC program is a unique tool that provides private
equity capital to small businesses in a prudent way. In fiscal
year 2020, the program helped finance over 1,000 small
businesses and supported over 91,000 jobs, all while running on
zero cost subsidy to the American taxpayer.
However, as this program advances, its rules regarding the
role of banks and savings associations are becoming
increasingly outdated. H.R. 4256, the ``Investing in Main
Street Act of 2021,'' will update these rules by addressing how
much money a bank or other savings institutions can invest in
an SBIC from 5 percent to 15 percent. Importantly, with any
investment above 5 percent a bank or savings institution would
need the approval from its federal financial regulator in order
to proceed.
The changes within H.R. 4256 would also level the SBIC
rules with longstanding requirements at the Office of the
Comptroller of the Currency. The SBIC program has the ability
to play an important role in the long-term outlook for small
businesses, but Congress must modernize its rules to keep pace.
H.R. 4256 delivers modernization and provides further access to
capital for small businesses in my district in New York and
beyond. I look forward to continuing with my counterparts to
ensure this bill makes progress and is sent to the House floor
swiftly.
Madam Chair, I yield back the balance of my time.
Chairwoman VELAZQUEZ. The gentleman yields back. Are there
any other Members who wish to be recognized for a statement on
H.R. 4256?
I would now like to recognize the Ranking Member.
Mr. LEUTKEMEYER. Thank you, Madam Chair. I would like to
thank the gentlelady from California, Ms. Chu, and the
gentleman from New York, Mr. Garbarino, for working on this
legislation in the 117th Congress.
The changes reflected in H.R. 4256 will address and update
how banks and savings institutions operate within the SBIC
program. As we continue to examine the post COVID-19 small
business environment it will be critically important to ensure
the existing SBA program are ready for recovery. H.R. 4256 is a
step in the right direction. The Investing in Main Street Act
passed the House in the last two Congresses and I look forward
to working with the Chair to ensure it passes again and moves
forward all the way to the Senate. I urge my colleagues to
support H.R. 4256.
With that, Madam Chair, I yield back the balance of my
time.
Chairwoman VELAZQUEZ. Thank you. The gentleman yields back.
I would now like to recognize myself briefly.
Improving access to capital has been a top priority of mine
and it is important that SBA programs and rules governing them
are consistent, especially if multiple agencies have issued
similar guidance. This bill improves SBA access to capital
programs by harmonizing the statutory provisions of the Small
Business Investment Act with similar regulations published by
the OCC.
Thank you, Ms. Chu and Mr. Garbarino, for reintroducing
this bill. I am pleased to support it and I urge a yes vote.
If there is no further discussion, the Committee will move
on to consideration of H.R. 4256. The clerk will report the
bill.
H.R. 4256
The CLERK. H.R. 4256, ``Investing in Main Street Act of
2021''----
Chairwoman VELAZQUEZ. Without objection, H.R. 4256 is
considered as read and open for amendment at any time. Does
anyone seek recognition to offer an amendment?
Seeing none, the question is now on H.R. 4256.
All in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4256
is agreed to.
The question now occurs on reporting H.R. 4256 favorably to
the House.
All those in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4256
is reported to the House.
Without objection, Committee staff is authorized to correct
punctuation and make other necessary technical corrections and
conforming changes. Without objection, Members have 2 business
days to file additional supplemental, dissenting, and minority
views.
H.R. 4481
Our second bill today is H.R. 4481, the ``Small Business
7(a) Loan Agent Transparency Act,'' introduced by Congressman
Phillips and cosponsored by Congressman Meuser. This bill will
establish a registration system for 7(a) agents by assigning
them a unique identifier. It allows SBA to collect data to help
track and evaluate the performance of loans generated through
loan agent activity.
I would now like to recognize the gentleman from Minnesota,
Mr. Phillips, the sponsor of the bill, for an opening
statement.
Mr. PHILLIPS. Thank you, Chairwoman Velazquez, and
greetings to my colleagues. Let me just begin quickly. I know
it is in vogue to criticize one party, Democrats, for inflation
right now. I want to remind everybody that after an economy is
shut down because of a pandemic we should expect inflation. I
think as Members of the Small Business Committee having a
markup today, we should be celebrating the fact that our GDP in
the United States of America now exceeds pre-pandemic levels.
Let us do a little celebrating in a Committee that surely
should on a day like this.
I want to speak to H.R. 4481 and urge support of the bill,
the ``Small Business 7(a) Loan Agent Transparency Act.'' The
Small Business Administration 7(a) Loan Guarantee Program is
the agency's flagship loan program. In fiscal year 2020, the
SBA approved over 42,000 7(a) loans, totaling nearly $22.6
billion.
The SBA also administered several subprograms within 7(a)
that offers streamlined and expedited loan procedures for
particular groups of borrowers, including the SBA Express and
Community Advantage Pilot Programs. It was on this framework
that Congress first established the Paycheck Protection
Program, which has been responsible for extending more than
$790 billion in relief to small businesses throughout the
United States in the wake of the coronavirus pandemic. Together
these programs work to fulfill the SBA's mission of aiding and
protecting the interests of small businesses, particularly
those that might not otherwise obtain financing under
reasonable terms and conditions.
The capital provided by the 7(a) program supports small
businesses seeking to purchase real estate, equipment, and
supplies to provide short- and long-term working capital or to
refinance current business debt. Its importance cannot be
overstated.
In February of 2020, this Committee held a hearing to
examine the management of SBA's Office of Credit Risk
Management, which is responsible for the oversight of SBA
lenders and its 7(a) loan portfolio. During the hearing OCRM's
director testified that SBA lacks a way to uniquely identify
and systemically track loan agent activity. Instead, they must
rely on self-reported lender reviews to obtain information
about 7(a) agents.
Without these unique identifiers there is very little data
that is collected about those responsible for the processing
billions and billions in taxpayer funds and working with small
businesses across the country. This can potentially place small
businesses at risk and is an opportunity for the adoption of a
bipartisan commonsense solution to help protect the hard-earned
resources of Americans.
The ``Small Business 7(a) Loan Agent Transparency Act''
would require OCRM to establish a registration system for 7(a)
agents that collects data to help OCRM track and evaluate
performance of loans generated through agent activity. OCRM
will need to establish a database with the type of services
performed by 7(a) agents and require the registration before an
agent provides services to a lender or borrower. These
provisions will improve enforcement and oversight actions and
will address the increased risk introduced by loan agents,
which has been cited as one of the top management and
performance challenges facing SBA.
While on this topic of strengthening oversight for the 7(a)
program, I would also like to briefly speak in support of the
bill from my friend, the gentleman from Pennsylvania, Mr.
Meuser, his ``7(a) Loan Agent Oversight Act.'' That bill is a
companion to my own and would require OCRM to submit a report
to Congress on the performance of loans that are generated
through agent activity and any risks involved in that work. I
applause and celebrate Mr. Meuser's leadership on this
legislation and look forward to voting in favor of it this
morning as well.
I want to thank the Chairwoman, the Ranking Member, and the
Small Business Committee majority and minority staffs for
working so diligently with us on this legislation. I also want
to thank my friend and colleague Mr. Meuser for his support and
coauthorship of the bill. Finally, to extent my gratitude to
our cosponsors, Reps. Donalds, Garbarino, Tenney, Salazar, and
Oversight Ranking Member Van Duyne.
I urge the Committee to adopt this measure and its
companion H.R. 4531, and report them favorably to the House.
With that, Madam Chair, I yield back.
Chairwoman VELAZQUEZ. Thank you. The gentleman yields back.
I would now like to recognize the cosponsor of the bill,
Congressman Meuser, for an opening statement.
Mr. MEUSER. Well, thank you very much, Madam Chair, for
holding this markup to evaluate a number of these very
important bills that are very crucial, we feel, to the small
business ecosystem.
As we examine access for capital for small businesses it is
imperative that we also look at the SBA's existing 7(a) Loan
Program, as we are. I want to thank my friend, the gentleman
from Minnesota, for his leadership as well and for working with
me on the role agents will pay within this program. Thank you,
Mr. Phillips.
I do look forward to working in a bipartisan manner to
ensure the SBA has the correct level of oversight in place for
the growing population of agents within its flagship 7(a) Loan
Program, as we all understand how important this is.
So, I thank you, Madam Chair, and I yield back.
Chairwoman VELAZQUEZ. The gentleman yields back. Are there
any other Members who wish to be recognized for a statement on
H.R. 4481?
I now recognize the Ranking Member for an opening
statement.
Mr. LEUTKEMEYER. Thank you, Madam Chair. The utilization
and role of loan agents within the SBA's government-guaranteed
lending programs is critically important. This bill and H.R.
4531 will spark an important conversation on whether SBA has
its eyes on who is participating in these programs. I have been
told of many problems with loan agents and we are going to have
to take a hard look at the role and activities of loan agents.
Proper administration oversight of these programs will remain a
high priority of mine as this Congress moves forward.
I want to thank both gentlemen for working on these bills
and proposing solutions. I urge my colleagues to support the
bill in front of us today. I yield back.
Chairwoman VELAZQUEZ. The gentleman yields back. Thank you.
I would now like to recognize myself briefly.
Our Committee has consistently heard from the agency's
watchdog about the increased risk associated with loans
originated through agent activity.
In October 2020, SBA's IG identified increased risk
introduced by loan agents as one of the top management and
performance challenges facing the agency in this fiscal year.
This bill sets up a registry for loan agents at SBA to help the
agency monitor loan performance for loans that originated with
agents.
I want to really thank Mr. Phillips for introducing this
bill and I am pleased to support it. I urge a yes vote.
If there is no further discussion, the Committee will move
on to consideration of H.R. 4481. The clerk will report the
bill.
The CLERK. ``H.R. 4481, the Small Business 7(a) Loan Agent
Transparency Act.''
Chairwoman VELAZQUEZ. Without objection, H.R. 4481 is
considered as read and open for an amendment at any point. Does
anyone seek recognition to offer an amendment?
Seeing none, the question is now on H.R. 4481.
All in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4481
is agreed to.
The question now occurs on reporting H.R. 4481 favorably to
the House.
All those in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4481
is reported to the House.
Without objection, Committee staff is authorized to correct
punctuation and make other necessary technical corrections and
conforming changes. Without objection, Members have 2 business
days to file additional supplemental, dissenting, and minority
views.
H.R. 4531
The next bill under consideration is H.R. 4531, the ``7(a)
Loan Agent Oversight Act,'' introduced by Congressman Meuser
and cosponsored by Congressman Phillips. This bill will require
an annual report by SBA on the performance of and risks
associated with loans generated through loan agent activity.
I would now like to recognize the gentleman from
Pennsylvania, Mr. Meuser, the sponsor of the bill, for an
opening statement.
Mr. MEUSER. Thank you very much, Madam Chair. As I
mentioned earlier, it is imperative that the SBA has the
oversight capabilities in place to manage its access to capital
programs. With that in mind, Congress must be in a position to
determine if congressional intent is being followed. Without
accurate information we cannot perform that oversight that is
so needed to safeguard and protect American taxpayer dollars.
While Mr. Phillips' bill, H.R. 4481, takes the steps to
ensure the SBA can track the role of agents within the SBA's
largest traditional lending program, my bill, H.R. 4531, the
``7(a) Loan Agent Oversight Act,'' will ensure Congress
receives the data it needs to conduct proper oversight. H.R.
4531 would provide information on how many loans have been
processed with the assistance of loan agents and the default
rates of loans that are associated with loan agents.
Additionally, the legislation requires the SBA to perform a
risk analysis on agents who operate within the program. At the
end of the day, these are government programs that were
developed to assist main street, USA for access to capital.
Given this important mission, Congress and the SBA must conduct
the appropriate level of oversight. The information that will
be provided to Congress under H.R. 4531 will be paramount as we
measure the effectiveness of these programs and whether the SBA
has the correct oversight requirements in place to administer
such a significant program.
As more small businesses utilize the SBA's programs, it is
increasingly important for Congress to understand how different
groups assist small businesses and lenders through the lending
process.
Madam Chair, thank you for bringing these bills forward and
I look forward to working with my colleagues to further enhance
the small business environment in Pennsylvania and across the
nation. I yield back.
Chairwoman VELAZQUEZ. Thank you. The gentleman yields back.
Are there any other Members who wishes to be recognized for
a statement on H.R. 4531?
I will now recognize the Ranking Member.
Mr. LEUTKEMEYER. Thank you, Madam Chair. SBA's Inspector
General has spoken clearly on loan agents within the SBA
programs. The bills before us today heed the warnings of the
Inspector General, who lists loan agents as a top management
and performance challenge for the agency. With documented fraud
totaling hundreds of millions of dollars, H.R. 4531 will shed
light on what is truly happening within this program and
provide Members of Congress the information they need to
continue to safeguard these programs.
I look forward to examining the role of loan agents within
the traditional programs of SBA and the COVID relief programs
that were created and activated during the pandemic. I commend
Ranking Member Meuser of the Subcommittee on Economic Growth,
Tax, and Capital Access for crafting this legislation with
Chairman Phillips of the Oversight, Investigations, and
Regulations Subcommittee.
Madam Chair, with that, I urge my colleagues to support
H.R. 4531, and I yield back.
Chairwoman VELAZQUEZ. Thank you. The gentleman yields back.
Now I would like to recognize myself briefly.
To complement the loan agent registration established under
Mr. Phillips' bill it is important for the agency to also
report back to Congress and the public on the performance of
this loan. This bill requires such a report on an annual basis.
I want to thank Mr. Meuser for introducing this bill and I
am pleased to support it. I urge a yes vote.
If there is no further discussion, the Committee will move
on to consideration of H.R. 4531. The clerk will report the
bill.
The CLERK. H.R. 4531, the 7(a) Loan Agent Oversight----
Chairwoman VELAZQUEZ. Without objection, H.R. 4531 is
considered as read and open for amendment at any time.
Does anyone seek recognition to offer an amendment?
Seeing none, the question is now on H.R. 4531.
All in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4531
is agreed to.
The question now occurs on reporting H.R. 4531 favorably to
the House.
All those in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4531
is reported to the House.
Without objection, Committee staff is authorized to correct
punctuation and make other necessary technical corrections and
conforming changes. Without objection, Members have 2 business
days to file additional supplemental, dissenting, and minority
views.
H.R. 3469
We will now move on to H.R. 3469 introduced by Congressman
Schneider and cosponsored by Congressman Williams. H.R. 3469
makes improvements to SBA's Boots to Business program as well
as offering certainty to transitioning veterans by authorizing
the program for 5 years.
I would now like to recognize the gentleman from Texas, Mr.
Williams, for an opening statement.
Mr. WILLIAMS. Thank you, Madam Chair. I represent Fort
Hood, one of the largest military bases in the world, and it is
a great honor to fight on behalf of these brave individuals
every day in Washington. Our veterans and servicemembers play a
vital role in our entrepreneurship economy.
These honorable men and women who served their country
deserve to be equipped with the training and expertise to make
a successful career transition from the military. Many of them
already have the leadership. They have got problem-solving,
their communications skills are the best, and we have in the
armed forces skills that translate well into entrepreneurial
and business success.
The Boots to Business entrepreneurial education and
training program administered by the SBA's Veterans Business
Outreach Centers is a valuable resource for transitioning
servicemembers looking to start their own businesses. This
program is about more than just getting a job. It is about
getting a career and that is what is important, and ensuring
our veterans can successfully transition from the battlefield
to the business world.
That is why I am proud to co-lead with Congressman
Schneider the ``Veterans Entrepreneurship Training Act of
2021,'' which codifies the Boots to Business program for 5
years. It will provide our veterans and military families with
a curriculum to lead them through key steps for creating
business concepts and give them the foundational knowledge to
bring their plan into fruition.
Additionally, this legislation facilitates the sharing of
materials with Departments of Defense and Veterans Affairs to
include on their websites, manuals, and local facilities and
further expand the impact of this program. This legislation
passed the House with almost unanimous support last Congress
and I urge my colleagues to support our veteran entrepreneurs
again this Congress with H.R. 3469.
With that, Madam Chair, I yield my time back.
Chairwoman VELAZQUEZ. Thank you. The gentleman yields back.
I would like to enter into the record Mr. Schneider's
statement. Without objection, his statement is entered for the
record.
I would like to recognize the Ranking Member.
Mr. LEUTKEMEYER. Thank you, Madam Chair. It is an honor to
support legislation that empowers our veterans in their quest
for entrepreneurship. Last year, the Boots to Business program
supported over 20,000 veterans, servicemembers, and military
spouses worldwide through the Introduction to Entrepreneurship
course.
Our servicemembers are our nation's best and brightest, and
this bipartisan legislation will codify the Boots to Business
program for 5 years to further assist transitioning
servicemembers in launching and growing their own small
businesses.
With that, Madam Chair, I urge my colleagues support and I
yield back.
Chairwoman VELAZQUEZ. Thank you. The gentleman yields back.
I now would like to recognize myself briefly.
Starting a business after leaving military service provides
an opportunity for veterans to not only build a new career, but
to secure their livelihoods. Authorizing the Boots to Business
program for the next 5 years will provide more than 18,000 new
servicemembers each year with the counseling, training, and
technical assistance necessary to launch and grow their small
businesses.
The skills they develop in the military--leadership,
perseverance, resourcefulness, and discipline--make them ideal
business owners. They are dedicated to their local communities
and play a critical role in boosting economic growth.
I want to thank Representative Schneider and Representative
Williams for their bipartisan work on this bill. I urge a yes
vote for those military servicemembers who have served this
country honorably.
If there is no further discussion, the Committee will move
on to consideration of H.R. 3469. The clerk will report the
bill.
The CLERK. H.R. 3469----
Chairwoman VELAZQUEZ. Without objection, H.R. 3469 is
considered as read and open for amendment at any time.
Does anyone seek recognition to offer an amendment?
Seeing none, the question is now on H.R. 3469.
All in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 3469
is agreed to.
The question now occurs on reporting H.R. 3469 favorably to
the House.
All those in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 3469
is reported to the House.
Without objection, Committee staff is authorized to correct
punctuation and make other necessary technical corrections and
conforming changes. Without objection, Members have 2 business
days to file additional supplemental, dissenting, and minority
views.
H.R. 3462
We will now consider H.R. 3462, the ``SBA Cyber Awareness
Act,'' introduced by Congressman Crow and cosponsored by
Congresswoman Young Kim. This bill directs the SBA to issue
reports on its cybersecurity infrastructure and in the event of
cyber threats, breaches, and cyber attacks at the agency.
I would now like to recognize Congressman Crow from
Colorado, the sponsor of the bill, for an opening statement.
Mr. CROW. Madam Chairwoman, thank you for the opportunity
to speak in support of H.R. 3462, the ``SBA Cyber Awareness
Act.''
Our small businesses are the backbone of our economy, but
are increasingly the target of cyber attacks and theft of data
and intellectual property. Unfortunately, federal agencies are
not immune to such attacks either. According to the SBA's
Office of the Inspector General, IT security is one of the most
serious management and performance challenges facing the agency
in more than 20 years.
Over the course of the COVID-19 pandemic, unprecedented
demand for relief programs, like PPP and EIDL, have overwhelmed
SBA's legacy systems. As a result, the glitch in the EIDL
application system led to an exposure of personal information
of over 8,000 applicants with no public announcement of the
data breach until weeks later.
The SBA Cyber Awareness Act would direct the SBA to issue
an annual report assessing its cybersecurity infrastructure.
The bill also requires the SBA to report cyber threats,
breaches, and cyber attacks to the committees of jurisdiction
and notify affected individuals within 30 days of an incident.
Cyber attacks are one of the biggest threats to our economy
and small businesses. This bill would ensure that we are doing
everything we can to protect the millions of small businesses
the SBA serves and prepare them for 21st century threats.
I urge my colleagues to support the ``SBA Cyber Awareness
Act'' and I thank the Chairwoman for the opportunity to speak
on its behalf, and I yield back.
Chairwoman VELAZQUEZ. Thank you. The gentleman yields back.
Now I would like to recognize the gentlelady from California,
Ms. Kim, for an opening statement. She is the cosponsor of the
bill.
Ms. YOUNG KIM. Thank you, Madam Chair. I would like to be
recognized to talk in support of the bill, H.R. 3462. I want to
thank the Chairwoman and Ranking Member for holding this
important markup.
I appreciate our Committee's focus on cybersecurity with
the hearing last Tuesday as well as today with several
cybersecurity bills before us. One of the discussion points
raised in last Tuesday's cybersecurity hearing was the concern
small businesses have with the government's own cybersecurity
measures. Many of us sitting in this room have been the victims
of a cyber attack on a government agency, like the OPM data
breach in 2015. We know how critical it is for the government
to protect its networks and safeguard our own personal
information that we disclose to the government. This is
important data, like our birthdays and Social Security numbers.
Fifty percent of small businesses with 500 or less
employees say that it is likely that they will experience a
cyber attack in the next 12 months. One in four are
experiencing more cyber attacks compared to a year ago. That is
why I am voicing my support for H.R. 3462, the ``SBA Cyber
Awareness Act.'' I want to thank my colleague and my friend,
Mr. Crow, for working with me on this important legislation.
The ``SBA Cyber Awareness Act'' promotes transparency within
the SBA, so that Congress and affected individuals with data
housed in SBA systems are timely notified in the event of a
cyber incident.
When the SBA discovered a flaw in its EIDL application
system, leading to the exposure of personal information for up
to 8,000 individuals, the agency failed to make any public
announcement of the breach. It was not until weeks later that
the SBA notified affected individuals or even Members of
Congress. This was simply unacceptable and I believe the urgent
necessity of this legislation is very clear.
In addition to timely notification, the bipartisan bill
requires an annual cybersecurity report from the SBA, detailing
any cyber incidents and remediation efforts undertaken as well
as an assessment of the SBA's information technology and
cybersecurity infrastructure. Such measures can only enhance
the cybersecurity measures in place at the SBA and may even
eleviate some of the concerns small business owners and
entrepreneurs might have in engaging with the agency.
With that, I urge my colleagues to support this
legislation, and I yield back.
Chairwoman VELAZQUEZ. Thank you. The gentlelady yields
back. Are there any other Members who wish to be recognized for
a statement on H.R. 3462?
I would now like to recognize the Ranking Member.
Mr. LEUTKEMEYER. Thank you, Madam Chair. The government
arguably has the greatest responsibility of any entity in this
country to protect its data and implement robust cybersecurity
protections. The SBA is a part of that. Small business owners
depend on the SBA to keep the personal information that they
have disclosed safe and secure. This legislation contains the
necessary accountability and transparency measures small
businesses need when interacting with the federal government. I
support the bipartisan bill and urge my colleagues to do the
same.
With that, Madam Chair, I yield back.
Chairwoman VELAZQUEZ. The gentleman yields back. I would
now like to recognize myself briefly.
For more than 20 years, the SBA's Office of Inspector
General has listed IT security as one of the most serious
management and performance challenges facing the agency. The
demand for the Paycheck Protection Program and the Economic
Injury Disaster Loan programs inundated SBA's legacy system,
leading to backend system crashes, portals operating slowly,
and a glitch that led to a data breach of applicants' personal
information. SBA failed to make any public announcement about
the data breach. It took weeks for the agency to send paper
notifications to affected individuals.
We trust that SBA has taken the necessary steps to recover,
but we want a notification system in place before the next
cybersecurity incident. This bill sets new reporting
requirements to ensure congressional and public awareness.
I want to thank Mr. Crow and Mrs. Young Kim for this vital
legislation. I urge a yes vote.
If there is no further discussion, the Committee will move
on to consider H.R. 3462. The clerk will report the bill.
The CLERK. H.R. 3462----
Chairwoman VELAZQUEZ. Without objection, H.R. 3462 is
considered as read and open for amendment at any point.
Does anyone seek recognition to offer an amendment?
Seeing none, the question is now on H.R. 3462.
All in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 3462
is agreed to.
The question now occurs on reporting H.R. 3462 favorably to
the House.
All those in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 3462
is reported to the House.
Without objection, Committee staff is authorized to correct
punctuation and make other necessary technical corrections and
conforming changes. Without objection, Members have 2 business
days to file additional supplemental, dissenting, and minority
views.
H.R. 4515
We will now consider H.R. 4515, the ``Small Business
Development Center Cyber Training Act of 2021,'' introduced by
Congressman Garbarino and cosponsored by Mr. Evans, Ms.
Houlahan, and Mr. Chabot. This bill helps Small Business
Development Centers become better equipped to assist small
entities with their cybersecurity needs.
I would now like to recognize the gentleman from New York,
Mr. Garbarino, the sponsor of the bill, for an opening
statement.
Mr. GARBARINO. Thank you, Chairwoman. The use of
information technology in this modern age is inescapable. We
rely on it to do everything from the mundane to the miraculous.
This can, however, be a double-edged sword.
As indispensable as it is to our everyday lives, it also
exposes us to a host of new vulnerabilities. Just a few short
weeks ago, a series of widely reported ransomware attacks
caused significant disruption and damage to thousands of
individuals and businesses, including small businesses.
Cyber criminals are, unfortunately, targeting small
businesses precisely because of their lack of knowledge and
awareness of proper cyber hygiene as a result of weak and
nonexistent cybersecurity measures. The outcome of a cyber
attack can be catastrophic for small business owners, leaving
many unable to recover from the loss of their intellectual
property and resources. This is why this legislation introduced
by myself, Congressman Evan, Congresswoman Houlahan, and former
Ranking Member Chabot is so critical. Congressman Phillips and
Congresswoman Tenney are also cosponsors and they are on this
Committee and I want to thank them.
H.R. 4515, the ``Small Business Development Center Cyber
Training Act of 2021,'' utilizes the far reach and resources of
the SBDCs across the country to assist small businesses with
planning and implementing cybersecurity measures to defend
against cyber attacks. This bipartisan bill establishes a cyber
counseling certification program for SBDC staff to ensure that
they are properly educated and trained on the latest cyber
threat developments, so that the information may be shared with
small businesses seeking assistance from the SBDCs.
The cyber assistance offered by trained SBDC staff would be
provided at no or low cost to small businesses. By leveraging
the expertise of SBDCs and their partner agencies, small
businesses can take a more proactive and defensive approach to
cybersecurity. Understanding that this will require resources,
the legislation authorizes the SBA to reimburse SBDCs for
employee certification costs up to $350,000 per fiscal year.
The bill also utilizes existing federal resources to cover
the reimbursement costs. Small businesses are in dire need of
assistance to combat rapidly evolving cyber threats and this
commonsense, bipartisan legislation will help them get there.
I urge my colleagues to support this measure, and I yield
back.
Chairwoman VELAZQUEZ. Thank you. The gentleman yields back.
I would now like to recognize the gentleman from Pennsylvania,
Mr. Evans.
Mr. EVANS. Thank you, Madam Chair and Ranking Member. And
thank you, Madam Chair, for your leadership of this Committee.
Thank you for what you have done and I thank my co-leaders in
terms of this particular issue.
As you know, I consider small businesses to be the
foundation of our community. They are the engines that drive
innovation, inventiveness, investments, and economic
development. They are the pillars that prop up our community.
Yet, as technology makes things easier, it is also open to
vulnerabilities. The same tools that are making our lives
better are also making our personal information easier to
access for both good and bad actors. The FBI 2020 Cyber Crime
Report showed that attacks on business email accounts cost $1
trillion and this doesn't represent the future picture. As many
businesses do not report these cyber attacks, around 60 percent
of firms go out of business within 6 months after a data
breach.
However, good cybersecurity does not come cheap. It can
cost tens of thousands of dollars to establish a good defense
against cyber attacks. Because of the evolving world of cyber
threats, cybersecurity is an ongoing cost. As a result, it is
critical we help our small businesses that are the backbone of
our nation's economy and ensure that they are given the
training they need to defend themselves from cyber attacks.
I thank you, Madam Chair and Ranking Member, for your
leadership on this, and I yield back. Back to you.
Chairwoman VELAZQUEZ. The gentleman yields back. Now I
recognize the gentlelady from Pennsylvania, Ms. Houlahan,
cosponsor of the bill.
Ms. HOULAHAN. Thank you, Madam Chair. I want to make the
following really clear to everyone on this Committee and the
American people if it hasn't been already clear, if we aren't
protecting our small businesses, then we are not protecting our
economy. The rise in cyber attacks against our economic
infrastructure should be the cause for very serious alarm. We
need to be doing everything our power to not only shore up our
defenses, but also to equip our small businesses and business
owners with the tools that they need to be able to defend their
businesses.
I am really proud to partner with Representative Chabot,
Evans, and Garbarino on this effort to support the passage of
the Small Business Development Center, or SBDC, Cyber Training
Act of 2021. We have to ensure that SBDCs are equipped to help
our nation's small businesses and that they have the resources
and the guidance that they need to respond to cyber threats. I
urge my colleagues to join me in full support of this bill.
Thank you and I yield back, Madam Chair.
Chairwoman VELAZQUEZ. The gentlewoman yields back. Are
there any other Members who wish to be recognized for a
statement on this bill? I recognize the Ranking Member.
Mr. LEUTKEMEYER. Thank you, Madam Chair. It is abundantly
clear that no business, regardless of size or the amount of
available resources, is 100 percent safe from cyber threats. If
large businesses can become victims of cybercrimes, small
businesses are even more vulnerable.
This bipartisan legislation will make it possible for small
businesses to receive guidance and counseling from the SBDCs on
the most up-to-date cybersecurity practices at virtually no
cost. This is exactly what small businesses need. I urge my
colleagues' support.
Madam Chair, with that, I yield back.
Chairwoman VELAZQUEZ. The gentleman yields back. I would
like to make a statement myself.
Small businesses are especially vulnerable to cyber attacks
due to limited resources and technical knowledge. SBDCs are
ready, willing, and able to fill this gap. H.R. 4515 will
establish a cyber counseling certification program in SBDCs to
provide specific, free-of-charge cyber training for small
businesses.
Congress and the SBA must meet the demand for cybersecurity
training and resources. Thank you to my colleagues for
reintroducing this bill. I urge a yes vote.
If there is no further discussion, the Committee will move
on to consideration of H.R. 4515. The clerk will report the
bill.
The CLERK. H.R. 4515, the Small Business Development----
Chairwoman VELAZQUEZ. Without objection, H.R. 4515 is
considered as read and open for amendment at any point.
Does anyone seek recognition to offer an amendment?
Seeing none, the question is now on H.R. 4515.
All in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4515
is agreed to.
The question now occurs on reporting H.R. 4515 favorably to
the House.
All those in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4515
is reported to the House.
Without objection, Committee staff is authorized to correct
punctuation and make other necessary technical corrections and
conforming changes. Without objection, Members have 2 business
days to file additional supplemental, dissenting, and minority
views.
H.R. 4513
We will now take up the bill on the final bill on the
agenda, H.R. 4513, the ``Small Business Advanced Cybersecurity
Enhancements Act of 2021,'' introduced by Congressman Donalds
and myself, Congresswoman Houlahan, and Congressman Chabot.
This bill will provide additional resources and protection for
small employers and encourage good faith collaboration with the
federal government.
I would now like to recognize the gentleman from Florida,
Mr. Donalds, the sponsor of the bill, for an opening statement.
Mr. DONALDS. Thank you, Madam Chair, and thank you as well,
Ranking Member. I would also like to thank you, Madam Chair,
for holding last Tuesday's Committee hearing on the
cybersecurity posture of America's small businesses. The
testimony we heard from the witnesses made it abundantly clear
that having a consistent, rapid flow of information between the
private and public sectors is critical in the fight against
cybercrime. Because small businesses are targeted by
cybercriminals nearly half of the time, these businesses
collectively have a wealth of critical information that could
be utilized to identify, prevent, and mitigate future attacks.
Unfortunately, as we learned in the hearing, small
businesses are often reluctant to disclose to anyone,
especially the government, any information about cyber attacks
that may have been sustained. This ultimately leaves our
national cybersecurity posture in a weakened state and
vulnerable to attack.
The federal government has recognized this dilemma and has
taken steps to both prevent and mitigate cyber attacks on small
businesses. However, small business reluctance and
unwillingness to engage still exists.
We must give small businesses the confidence that they need
to engage with the federal agencies tasked with protecting
them, which is why the Chairwoman and I, along with
Congresswoman Houlahan and former Ranking Member Chabot
introduced H.R. 4513, the ``Small Business Advanced
Cybersecurity Enhancements Act of 2021.'' This bipartisan
legislation safeguards small businesses from cyber attacks by
establishing the Small Business Development Centers as a
primary liaison for information sharing for small businesses
seeking to report cyber threats.
This bill authorizes the free flow of information from the
SBDCs to cybersecurity experts at the Department of Homeland
Security and, importantly, expands the Cybersecurity
Information Sharing Act, or CISA, protections for small
businesses. By expanding liability protections and giving small
businesses a readily accessible and local resource to tap into
when dealing with cyber threats, the bill removes many of the
barriers small business owners are facing when confronted with
a cyber attack.
I urge my colleagues to support this bill, and I yield
back.
Chairwoman VELAZQUEZ. The gentleman yields back. Are there
any other Members who wish to be recognized for a statement on
this bill? I would like to recognize the Ranking Member.
Mr. LEUTKEMEYER. Thank you, Madam Chair. Cybercrime is a
booming industry and cybercriminals are strongly incentivized
to come up with new methods of attack. We know when small
businesses are attacked they may be reluctant to disclose such
information to the government agencies tasked with helping
them. The more we know, the better prepared we can be, both
defensively and offensively, against future cyber attacks. H.R.
4513 encourages small businesses to work with the federal
government instead of fearing it.
I urge my colleagues to support the bill before us. With
that, Madam Chair, I yield back.
Chairwoman VELAZQUEZ. The gentleman yields back. Thank you.
I would now like to recognize myself.
Protecting our nation from malicious cyber actors is a top
priority of this Committee. It is vital that the federal
government work closely with the private sector, not just the
large corporations and contractors, but also the small firms
that drive our supply chains. Everyone has a role to play.
Last week, experts detailed the cybersecurity landscape for
small firms and the tangled web of public and private support
mechanisms. This bill facilitates regular collaboration between
small businesses and the federal government, and ultimately
fortifies our nation's cyber defenses.
Thank you, Mr. Donalds, for reintroducing this bill. I am
pleased to be an original cosponsor. I urge my colleagues to
vote yes.
If there is no further discussion, the Committee will move
on to consideration of 4513. The clerk will report the bill.
The CLERK. H.R. 4513----
Chairwoman VELAZQUEZ. Without objection, H.R. 4513 is
considered as read and open for amendment at any point.
Does anyone seek recognition to offer an amendment?
Seeing none, the question is now on H.R. 4513.
All in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4513
is agreed to.
The question now occurs on reporting H.R. 4513 favorably to
the House.
All those in favor, say aye.
All those opposed, say no.
In the opinion of the Chair, the ayes have it and H.R. 4513
is reported to the House.
Without objection, Committee staff is authorized to correct
punctuation and make other necessary technical corrections and
conforming changes. Without objection, Members have 2 business
days to file additional supplemental, dissenting, and minority
views.
I want to thank all of the Members for their participation
today. If there is no further business to come before the
Committee, without objection, this meeting is adjourned.
[Whereupon, at 11:02 a.m., the committee was adjourned.]
A P P E N D I X
[GRAPHICS NOT AVAILABLE IN TIFF FORMAT]
[all]
File and source
- File
- CHRG-117hhrg45660.txt
- Size
- 62,209 bytes
- SHA-256
- 43bd441112ecf6e806757850e8745a575da9fb025717055d4a866445a387c211
- Our copy
- CHRG-117hhrg45660.txt
- Original
- No public link identified.