"House Passes Three Bipartisan Small Business Bills"
Summary
A committee press release dated January 25, 2023 from Washington, D.C. reporting that the U.S. House of Representatives passed three small business bills: H.R. 399 and H.R. 449 by voice and H.R. 400 by a vote of 411-13. H.R. 399, the Small Business Advocacy Improvements Act, allows the SBA Office of Advocacy to speak for small businesses in international economic and trade matters. H.R. 400, the Investing in Main Street Act, amends the Small Business Investment Act of 1958 to increase the amount that may be invested in small business investment companies. H.R. 449, the Microloan Transparency and Accountability Act, requires the SBA to report metrics on the effectiveness of the Microloan Program and examine default risks. The release names the sponsors of each bill.
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Full text
House Passes Three Bipartisan Small Business Bills January 25, 2023 WASHINGTON, D.C. – Today, The U.S. House of Representatives passed three small business bills: H.R. 399 (Passed by Voice), H.R. 400 (Passed by Vote of 411-13), and H.R. 449 (Passed by Voice). Below is a brief overview of each piece of legislation. H.R. 399, Small Business Advocacy Improvements Act – sponsored by Reps. Luetkemeyer (MO-03), Carter (LA-02), and Mfume (MD-07). This bill allows the Small Business Administration’s (SBA) Office of Advocacy to examine and speak on behalf of small businesses in international economic and trade matters. H.R. 400, Investing in Main Street Act – sponsored by Reps. Chu (CA-28), Garbarino (NY-02), and James (MI-10). This bill amends the Small Business Investment Act of 1958 to increase the amount that may be invested in small business investment companies. H.R. 449, Microloan Transparency and Accountability Act – sponsored by Reps. Burchett (TN-02), Kim (NJ-03), and Fitzgerald (WI-05). This bill requires the SBA to report on certain metrics to determine the effectiveness of the Microloan Program and examine if there are any default risks that put taxpayer dollars at risk.
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