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Okay. It's Mr. McGarvey from the great state of Kentucky. He'll lead us in the allegiance. The committee will now come to order. A quorum is present. Without objection, the chair is authorized to declare a recess of the committee at any time. I ask the unanimous consent to name Mr. Alford and Mr. Elzey to the subcommittee on contracting and infrastructure. Without objection, so moved. As required by House rules, a copy of this legislative measure has been made available to members and the public at least 24 hours in advance. Without objection, the committee will vote electronically in accordance with the committee rules and regulations developed by the House committees on rules and administration. I now recognize myself for opening remarks. Today we will mark up a bipartisan bill that is critical to protecting American innovation. The Small Business Innovation Research, SBIR, and Small Business Technology Transfer STTR programs are set to expire on September 30th unless Congress takes action to reauthorize them.
For over the decades, the SBIR and the STTR programs have fueled American innovation by providing early-stage funding to small businesses, allowing them to develop cutting-edge technologies that strengthen our economy and defend our nation. As Chairman, I am committed to ensuring these programs remain strong and uninterrupted. America's small business cannot operate in uncertainty, and our national security cannot afford an innovation gap. SBIR and STTR investments have developed some of the world's most advanced defense technologies with one goal, to keep Americans safe from foreign adversaries. All of us on this committee have worked hard to reauthorize the programs in a bipartisan way that protects American innovators from foreign adversaries and encourages greater support for breakthrough technologies. We've had great bipartisan and bicameral discussions in an effort to move forward the Innovate Act. I, along with all my colleagues, am committed to continuing these discussions. With long-term reauthorization remains the goal, one thing has become clear, time is working against us. We cannot allow these vital programs to expire while Congress continues to consider possible reforms and examine their impact. That is why I introduced HR 5100, alongside Ranking Member Velazquez, House Committee on Science, Space, and Technology Chairman Babin, and Ranking Member Lofgren. This bill will extend the SBIR and the STTR programs for one more year, allowing meaningful discussions towards long-term reauthorization to continue. This committee is responsible for empowering small businesses to do what they do best, innovate. Extending these programs keeps America ahead of their adversaries, creates jobs at home, and ensures that small businesses remain at the forefront of discovery. I want to thank Ranking Member Velazquez and her team for working with us and ensuring that these programs do not expire. I'd also like to thank Chairman Babin, Ranking Member Lofgren, and their staff for their support. This one-year extension sends a clear message. We will not let America's innovation pipeline run dry. I look forward to working with my colleagues in the House and the Senate to ensure continuity for SBIR and STTR programs and the small business participating in them.
Thank you, Mr. Chairman, for your efforts on this clean one-year extension of the small business innovation research and technology transfer programs. For more than four years, SBIR and STTR have been among the federal government's most effective engines for driving innovation, channeling a small share of the research and development budgets into highly competitive awards that fuel cutting-edge discoveries by small businesses. Economic analysis consistently shows an outside return on investment for taxpayers, and the program throughout its lifetime has been overwhelmingly successful. Unfortunately, the SBIR and STTR programs are set to expire at the end of the fiscal year. If these programs were allowed to expire, agencies will lose the ability to issue new awards, cutting off a vital source of early-stage funding for small businesses, delay commercialization and promising technologies, and weaken the federal government's ability to access new and emerging technologies. this is why one of my main priorities for the program is permanence the sbir and sdtr reauthorization is our committee's only must pass legislation this year despite the urgency we're still in early stages of negotiating a comprehensive reauthorization and time is running short
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