05 Apr BPC Action-Supported Small Business Bills in the 118th Congress in Small Business

The following bipartisan bills align with Bipartisan Policy Center small business recommendations and are endorsed by BPC Action. This list is updated quarterly.

S. 1157, the MicroCap Small Business Investing Act 

  • Led by Sens. John Hickenlooper (D-CO), James Risch (R-ID), Catherine Cortez Masto (D-NV) 
  • Creates a new SBIC license designation aimed at expanding the diversity of fund managers participating in the program and the diversity of small businesses that get SBIC investment

S. 1003, the FAST Fix Act 

  • Led by Sens. Jim Risch (R-ID), Jacky Rosen (D-NV), John Hoeven (R-ND) Mike Crapo (R-ID), Shelley Moore Capito (R-WV), Catherine Cortez Masto (D-NV), and Sen. Lisa Murkowski (R-AK) 
  • Makes changes to the Federal and State Technology (FAST) program application to help organizations in underserved states win more FAST grant funding

S. 936, the Supporting Small Business Career and Technical Education Act & H.R. 1730, the Supporting Small Business and Career and Technical Education Act

  • Led by Sens. Roger Marshall (R-KS), Ben Cardin (D-MD), Chris Coons (D-DE), and Reps. Roger Williams (R-TX) and Marie Gluesenkamp Perez (D-WA)
  • Amends the Small Business Act to direct Small Business Development Centers (SBDCs) and Women’s Business Centers (WBCs) to increase their services to assist small businesses in hiring graduates from career and technical education programs; also supports career and technical education graduates by directing SBDCs and WBCs to assist them in starting up a small business  

S. 673, the Small Business Child Care Investment Act & H.R. 2602, the Small Business Child Care Investment Act

  • Led by Sens. Jacky Rosen (D-NV), Joni Ernst (R-IA), Tammy Duckworth (D-IL), Marco Rubio (R-FL), and Reps. Susie Lee (D-NV) and Pete Stauber (R-MN)
  • Allow nonprofit child care providers that qualify as small businesses to participate in SBA loan programs

H.R. 1651, the Small Business 7(a) Loan Agent Transparency Act

  • Led by Reps. Dean Phillips (D-MN) and Dan Meuser (R-PA)
  • Establishes a registration system for 7(a) loan agents and collects relevant data

H.R. 1644, the 7(a) Loan Agent Oversight Act

  • Led by Reps. Dan Meuser (R-PA) and Dean Phillips (D-MN)
  • Requires SBA’s Office of Credit Risk Management to submit an annual report regarding the performance of and risk associated with loans generated through loan agent activity

H.R. 1541, the Small Business Workforce Pipeline Act 

  • Led by Reps. Jason Crow (D-CO), Marc Molinaro (R-NY), Shri Thanedar (D-MI), and Maria Salazar (R-FL)
  • Expands the list of SBDC-provided services to include information on how small businesses can establish and improve work-based learning and apprenticeship programs

H.R. 986, the COLLABORATE Act 

  • Led by Reps. Chris Pappas (D-NH) and Maria Salazar (R-FL)
  • Implements recommendations made by GAO and DOD to improve contracting processes and expand the adoption of best practices related to SBDC/APEX Accelerator (formerly PTAC) coordination

H.R. 449, the Microloan Transparency and Accountability Act 

  • Led by Reps. Tim Burchett (R-TN), Andy Kim (D-NJ), and Scott Fitzgerald (R-WI)
  • Requires SBA to report disbursement metrics for micro-loans and incentivize engagement with rural businesses by offering a 5% technical assistance grant for microloan intermediaries that make at least 25% of their loans to rural small businesses
  • Passed the House by voice vote on January 25, 2023
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