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House Passes Two Bipartisan Small Business Bills to Help America’s Job Creators

Summary

A committee release dated November 30, 2023 stating that the U.S. House of Representatives passed two small business bills that day. It describes H.R. 4666, sponsored by Bean (FL-04), Mfume (MD-07), LaLota (NY-01) and Phillips (MN-03), as requiring the Inspector General of the Small Business Administration to submit a quarterly report on fraud relating to certain COVID-19 loans and to keep Congress up to date on its investigation into fraudulent COVID-19 loans. H.R. 4667, the RECLAIM Taxpayer Funds Act, sponsored by Salazar (FL-27), McGarvey (KY-03) and LaLota (NY-01), requires the Small Business Administration (SBA) to post guidance to lenders on how to return fraudulent Paycheck Protection Program loans. It also requires the SBA to work with the Department of Treasury to see that these funds are returned to the taxpayers.

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“House Passes Two Bipartisan Small Business Bills to Help America’s Job Creators.” Original at smallbusiness.house.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/committee-6c18647d69b048eb/, SHA-256 2d4a2068b9961dd03dfb323b6fef65c90dbf78155dfdd71b60718fe2331d4ca5.

Full text

House Passes Two Bipartisan Small Business Bills to Help America’s Job Creators

November 30, 2023

WASHINGTON, D.C. – Today, The U.S. House of Representatives passed two small business bills favorably out of the chamber.

H.R. 4666, To require the Inspector General of the Small Business Administration to submit a quarterly report on fraud relating to certain COVID-19 loans – sponsored by Reps. Bean (FL-04), Mfume (MD-07), LaLota (NY-01), and Phillips (MN-03)

· This bill requires the SBA Office of Inspector General (SBA OIG) to keep Congress up to date regarding its investigation into fraudulent COVID-19 loans.

H.R. 4667, the RECLAIM Taxpayer Funds Act – sponsored by Reps. Salazar (FL-27), McGarvey (KY-03), and LaLota (NY-01).

· This bill requires the Small Business Administration (SBA) to post guidance to lenders on how to return fraudulent Paycheck Protection Program loans, as well as requiring the SBA to work with the Department of Treasury to see that these funds are returned to the taxpayers.

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