February 16, 2022
C-Suite Wednesday – Senate Hearing Considers Four Small Business Bipartisan Bills
The Senate and House Small Business Committees both held a hearing on February 15, one reviewing bills to be introduced and the other reviewing the Infrastructure Investment and Job Act’s benefits for small businesses, respectively.
Senator Cardin, the Chairman of the Senate Small Business Committee, mentioned four bipartisan bills for consideration during the Senate hearing.
S. 1617 – Disaster Assistance for Rural Communities Act
This would amend the SBA threshold for disaster declarations to allow the Administrator to administer disaster declarations for rural communities. The bill will ensure rural communities will get the support they need during a national disaster by directly addressing a natural disaster that significantly impacts the rural community but does not reach the SBA threshold for a disaster declaration.
S. 2042 – Interagency Committee on Women’s Business Entrepreneur Act
This Act would reauthorize the Interagency Committee on Women’s Business Enterprise. This committee was originally established in 1979 and played a significant role in the federal effort to develop policies and programs to empower women entrepreneurs.
S. 2521 – SBIC Working Group Act
This Act would bring together experts and stakeholders from the private sector to advise the SBA on how to increase demographic and geographic diversity in the Small Business Investment Company program. It directs the administrator to create an SBIC Advisory Committee made of 16 members with input from the Senate and House Small Business Committees.
H.R. 3451 – SBA Cyber Awareness Act
Senator Rubio is the lead sponsor of this Senate Companion bill. This Act requires the SBA to renew its cybersecurity procedures, develop an annual report to congress on its cybersecurity strategy, and implement a notification system to alert Congress and all affected parties in the case of a cyber breach.
House Small Business Committee Hearing
“When I talk to small business owners in my district, the conversation often turns to infrastructure. They rely on our roads, bridges, and broadband to reach new customers and boost demand for their goods and services. Unfortunately, many entrepreneurs tell me that the sad state of American infrastructure is hampering their ability to grow.
This law speaks to their concerns because it’s designed specifically to help small firms compete for contracts awarded with the funds it provides. Small construction firms and other types of businesses will play a direct role in building and repairing infrastructure projects that this law funds,” says the Honorable Jared Golden.