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Source: Congress.gov
Summary
The Small Business Committee conducted a markup on five bipartisan bills designed to support small businesses across America. The hearing focused on the Investing in All of America Act, which expands Small Business Investment Company (SBIC) lending to rural and underserved areas; the Office of Rural Affairs Enhancement Act, which strengthens SBA's rural outreach; the SBA Fraud Enforcement Extension Act, which extends prosecution timelines for pandemic-era fraud; and the SBA IT Modernization Reform Act, which mandates implementation of Government Accountability Office recommendations. The committee also considered the Made in America Manufacturing Finance Act, which aims to raise loan limits for small manufacturers, though significant concerns were raised about rising defaults and program integrity. Witnesses emphasized the need for accountability, taxpayer protection, and equitable access to capital, with bipartisan consensus on improving SBA services and ensuring federal programs meet the needs of all entrepreneurs.
Participants
Transcript
to say the Pledge of Allegiance. the committee will now come to order and the quorum is present before i get into my comments i would like to say it's going to be a busy day we're going to have members from both sides the aisle coming to and from the small business committee so just be aware that there'll be comings and goings of members so Without objection, the Chair is authorized to declare a recess of the Committee at any time. As required by House rules, a copy of the legislation measures have been made available to members and the public at least 24 hours in advance. Pursuant to Committee Rule 13 and House Rule 11, all votes will be rolled to the end of the meeting. Without objection, the Committee will vote electronically in accordance with Committee rules and regulations developed by the House Committees on Rules and Administration. Before recognizing myself for opening remarks, I want to pass along a brief message from Chairman Williams, who could not be here today due to a family matter.
He is very proud of the progress made by this committee this year, especially the five bills being considered today. The Chairman urges support of all five bills for consideration today and looks forward to this committee continuing its great work for the American people. And I'll recognize myself for opening remarks. Today we will mark up five important bills that support small businesses across America. These bills will revitalize American manufacturing, support rural entrepreneurs, protect taxpayer dollars, and hold fraudsters accountable. Small businesses are vital to the American economy. Under President Trump's leadership, small business optimism is at an all-time high. And that didn't happen by accident. It happened because we are cutting taxes, reducing burdensome regulations, and ensuring entrepreneurs have the freedom to grow. These bills build on all that momentum. This committee is dedicated to unleashing American manufacturing, strengthening our domestic supply chains, and keeping investment and good paying jobs at home rather than overseas. These bills reflect those same commitments. We will meet the needs of small American manufacturers, encourage greater private investment into critical technologies, and reinforce support for rural entrepreneurs. Additionally, these bills hold fraudsters accountable to preserve taxpayer trust. Members of this committee on both sides of the aisle have been working tirelessly to get these bills to where they are today. I look forward to working with my colleagues so we can continue to pass meaningful legislation that empowers small businesses and strengthens our communities. With that, I look forward to today's markup and yield to the Distinguished Ranking Member from New York, Ms. Velazquez.
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Unknown (SPEAKER_00)
Thank you, Mr. Chairman, for holding this markup to discuss policies that will strengthen the services SBA provides to America's 35 million small businesses. Today, we will consider four bipartisan bills negotiated in good faith and in the spirit of collaboration. First, the Investing in All of America Act of 2025, as amended, will give small business investment companies or SBICs additional leverage when they invest in small businesses in rural or underserved communities, small manufacturers, or small businesses critical to our national security. Second, the Office of Rural Affairs Enhancement Act will empower the SBA's Office of Rural Affairs by elevating its leader's role to that of an assistant administrator and requiring the office to host webinars and outreach events. Third, the SBA Fraud Enforcement Extension Act would hold fraudsters accountable for exploiting pandemic relief programs intended for America's small restaurants and performance venues by extending the statute of limitations for fraud offenses. And fourth, the SBA IT Modernization Reform Act of 2025 would require the SBA to implement 11 recommendations made by the Government Accountability Office to reform future IT modernization projects. These four bills make common sense policy changes that will meaningfully make the SBA a stronger resource for small businesses across the country. I am proud to support them, and I thank my colleagues on both sides of the aisle for their hard work and thoughtful discussion to get these bills to a good place. Unfortunately, we were not able to reach an agreement on the Made in America Manufacturing Finance of 2025.
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Unknown (SPEAKER_00)
On the surface, the idea may sound good, but with any bill you must get past the message and do the due diligence on the policy. I, however, I am not ruling out further negotiations over the summer, provided you work with us to raise loan limits for small manufacturers in a way that maintains the integrity of SBA lending programs and protects taxpayers' dollars. Thank you and I yield back.
Thank you very much. Does any other member seek recognition for the purpose of making an opening statement? Seeing none, we will now move to consideration of the first bill. Consideration of H.R. 2066, Investing in All of America Act of 2025. The committee now moves to consideration of H.R. 2066, the Investing in All of America Act of 2025, introduced by Representative Muser and Schlottman. The clerk will report the bill. H.R. 2066, a bill to amend. Without objection, H.R. 2066 is considered as read and open for amendment. The bill's sponsor, Mr. Muser, has an amendment in the nature of a substitute at the desk.
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