Various Measures
Legend
Transcript markers
- text Sentence being played
- text Search result
- text Intervention cited by the link you opened
Click a sentence to play the video from that moment. Select text to quote it with the speaker, timestamp and link.
More options
House Small Business U.S. House of Representatives
Follow its sittingsRoger Williams
Without objection, HR 10329 is considered as read and open for the amendment. I now recognize myself to speak on this legislation. First, I want to thank Representative Thanedar from the great state of California for co-sponsoring this bipartisan bill. Small businesses are essential to the American economy, they create ideas, they create jobs and build economic strength. That is exactly what our foreign adversaries are increasingly seeking to exploit.
Small businesses are on the front lines of a threat most of them never see coming. The Chinese Communist Party and other foreign adversaries are stealing American innovation, compromising our supply chains, flooding American markets with counterfeit goods made with forced labor, all to undermine US economic and national security. The FBI estimates that the counterfeiting, piracy, and trade secret theft costs the US economy between $225 billion and $600 billion every single year. Small businesses bear a disproportionate share of the cost, unlike large corporations they lack in-house counsel, cybersecurity resources, or threat intelligence teams to protect themselves.
The tactics are not limited to hacking. Small businesses entering commercial relationships with foreign partners often have no way of knowing whether they're dealing with an entity tied to a foreign adversary until the damage is already done. So by then, the intellectual property's gone, trade secrets are compromised, and their technology is transferred overseas. My bill, the Combating Foreign Threats to Main Street Act of 2026, gives a small business the tools they need to fight back. It directs the SBA to work with our national security agencies to provide resources to help Main Street recognize foreign threats and protect American jobs, innovation, and economic security.
This bill will bring the SBA into a whole-of-government approach to combating malicious activity from the CCP and other foreign adversaries by taking a practical approach to a serious problem. Our adversaries are working to undermine rule-based order and weaken America by any means necessary, including by targeting small businesses. This bill will ensure Main Street better understands the threats they face and gives them the tools to recognize them before they are victims. I urge my colleagues to vote yes on my bill, HR 10329. With that, I yield back.
And I now recognize Mr. Tran from the great state of California and my friend to speak on this legislation.
Derek Tran
Thank you, Mr. Chairman, for the opportunity to discuss an essential piece of legislation today, our Combating Foreign Threats to Main Street Act. I am proud to co-lead this with you. This bipartisan bill would direct the Small Business Administration to help small businesses protect themselves from cybercrime, intellectual property theft, and counterfeit goods when they do business with a country like China. Because of how our supply chains and global economy work, doing business with a country like China is normal. But it's not a secret that the Chinese Communist Party is waging an organized campaign to undercut American global influence and steal American innovation.
The threat is real and it's expensive. The FBI estimates that intellectual property theft linked to foreign adversaries costs American businesses between 200 and 600 billion every year, and roughly 80% of economic espionage lawsuits in this country prosecute conduct that benefits the CCP. To many small business owners that don't have a general counsel or a cybersecurity team, they don't have the resources to spot a predatory joint venture or a compromised supply chain. So bad behavior from foreign adversary poses a real threat to my district, which is home to some of the most dynamic small business manufacturers, biotech firms, and tech startups in Southern California. My district is also home to one of the largest, most diverse Asian American communities in the country, including many Chinese Americans.
Fighting the CCP is not the same as doubting our Asian American neighbors. To be clear, this bill helps protect against the conduct allowed by foreign governments. It does not single out any ethnicity or national origin. I will watch closely to make sure it stays that way. Instead, the Combating Foreign Threats to Main Street Act will ensure that America's small business owners and entrepreneurs have the clear, evidence-based resources they need to protect their businesses from threats of foreign adversaries like the CCP and safeguard their intellectual business property.
I am proud to co-lead this bill and I thank Chairman Roger Williams for his partnership. I urge my colleagues to support this important bipartisan bill. Thank you, and I yield back.
Roger Williams
Gentleman yields back. Are there any other members who wish to be recognized for statement on the bill? Mr. Chairman? Recognize Mr. Meuser for statement.
Daniel Meuser
Well, thank you, Mr. Chairman. HR 10329, the Combating Foreign Threats to Main Street Act, I commend the chairman for introducing this bill. This bill would require the SBA and agencies throughout the federal government to develop educational materials to help American small businesses identify and address and report foreign-linked fraud and economic threats, especially from our adversaries such as China and Russia. As chairman of the Oversight and Investigation Subcommittee in Financial Services, I've led the committee's efforts in combating consumer fraud and scams.
Speaker 19
As schemes become more elaborate and are increasingly perpetrated by transcontinental criminal organizations, TCOs, we must remain vigilant and address threats as they evolve. This legislation complements the efforts by ensuring small businesses have the information and resources they need to recognize and protect themselves from foreign threats. These threats can take many forms, including intellectual property theft, cyber intrusions, counterfeit goods, illicit trade practices, and predatory investment. No business is too small to be a target, yet many small businesses lack the resources or expertise to recognize these threats or know where to turn for help. So H.R. 10329 takes a straightforward approach by giving small business the resources and tools they need to protect their businesses, their data, and their intellectual property.
By strengthening awareness of transcontinental fraud and economic threats on Main Street, we can help protect the broader American economy and our national security. So I certainly urge my colleagues to support this legislation, and I yield back.
Roger Williams
The gentleman yields back. Are there any other members who wish to be recognized for a statement on this bill? Okay, seeing none, I'd like to recognize the ranking member to speak on the bill.
Nydia Velázquez
Thank you, Mr. Chairman. I commend you, Mr. Thanedar, for your attention to this issue. This bill directs the SBA to educate small businesses on foreign adversary conduct that harms them and how to avoid and respond to such conduct. Many of our nation's adversaries, like Russia and North Korea, are pariah states, shunned by the world for their military aggression and dictatorships, and their state-run firms often employ heinous, underhanded practices like espionage, counterfeiting, and non-market investment. Some small businesses have fallen victim to these tactics.
They have been trapped in predatory arrangements, had intellectual property stolen, and unknowingly broken the law. That is why it's important to raise entrepreneurs' awareness about these practices. That said, our nation's top strategic competitor, the People's Republic of China, is our largest trading partner after our ally, Mexico. American small businesses often partner with PRC companies on benign, mutually beneficial activities with no impact on our national security. Main Street America reaps lower costs, greater innovation, and access to vast sales markets when it works with PRC firms on low-stakes matters.
So any new policy or program involving the PRC must be balanced and fully account for the nuances of our complicated relationship. Further action is needed to ensure small firms are protected from IP theft, counterfeiting, and forced labor in all countries, not just the ones the president dislikes. I would also be remiss if I did not note that businesses elsewhere abroad also frequently employ the practices this bill highlights. I support sending this measure to the full House so it can receive careful and deliberative consideration and the appropriate scrutiny from the rest of our colleagues. With that, I urge my colleagues to support the bill.
Speaker 4
The gentlelady yields back. Does any other member wish to offer an amendment? All right, seeing none, the question now occurs on ordering H.R. 10329 reported favorably to the House. All those in favor say aye. All those opposed say no.
In the opinion of the chair, the ayes have it. H.R. 10329 is agreed to.
Mr. Chairman.
Roger Williams
What do you seek recognition for?
In the opinion of the chair, the ayes have it. HR 10329 is agreed to.
Can I ask for a recorded vote, please?
Mr. Chairman.
Roger Williams
Recorded vote has been requested. A roll call vote is ordered pursuant to committee rule 13 and House rule...
Recorded vote has been requested. A roll call vote is ordered. Pursuant to Committee Rule 13 and House Rule 11, further proceedings on this bill are now postponed. The committee now moves to consideration of HR 4615, the Small Business Payment for Performance Act of 2025, introduced by Representative Stauber, Vice-Chair Fitzpatrick, and Norcross, along with Representative Scholten as the committee co-lead. The clerk will report the bill.
Roger Williams
Without objection, HR 4615 is considered as read and open for amendment. The bill sponsor, Representative Stauber, has an amendment in the nature of a substitute at the desk. The amendment has been distributed in advance. The clerk will report the amendment.
Roger Williams
Without objection, the amendment will be considered as read and will serve as base text for the purpose of further amendment. I now recognize Mr. Stauber from the great state of Minnesota to speak on his bill and amendment.
Pete Stauber
Thank you, Mr. Chairman. I rise in support of my bill, HR 4615, the Small Business Payment for Performance Act, and I want to recognize Representative Scholten from Michigan to be for my co-lead. Small businesses are the backbone of our economy. They create jobs, support families, and keep communities across Minnesota and our entire country running. When small businesses rather contract with the federal government, they should not be forced to carry the financial burden when the government makes a change to a project.
Unfortunately, that is often the case, leading to burdensome costs on small businesses and often preventing many small businesses from contracting with the federal government in the first place. My bill addresses this matter. It's a simple fix but would have a huge impact on small businesses, along with families that depend on a paycheck week in and week out from a small business. Here's the problem at hand: a small contractor lands a federal job and gets to work. Then, partway through, the government changes the scope of the project.
Those changes can mean additional labor, materials, equipment, and other costs that the contractor did not originally plan for. The contractor can request what is known as an equitable adjustment to cover those added costs. But that process can take time, many times months. For a larger company waiting for that payment, they may be able to manage that. But for a small business, it can mean the difference between making payroll and missing it.
It can mean, excuse me, it can mean putting expenses on a line of credit, delaying another project, or telling a subcontractor that they have to wait to get paid. That is not right. And these are not just numbers on a balance sheet. These are hardworking Americans: construction workers, electricians, plumbers, equipment operators, truck drivers, and the small business owners who sign their paychecks. When the federal government directs a small business to perform additional work or changed work, that business should not be on the hook for covering the added cost while it waits for payment.
That is why the Small Business Payment for Performance Act requires agencies to provide an interim payment of at least 50% of the estimated additional cost after receiving a qualified request for an equitable adjustment. My bill also ensures the appropriate portion of that payment flows down to the subcontractors doing the work and facing those additional costs.
This is a common sense change and solution. Small businesses should be paid in a timely manner for the work they do on behalf of the federal government. Our small businesses and contractors compete for federal projects, they hire American workers, and do important work in communities across our country. When a job changes, they should not be left carrying the added cost on their own while they wait to be paid. Again, this bill establishes a simple change, but it would be, but it would be have a huge impact on our small businesses and the hardworking people that they employ in our country.
And if we can do anything to assist small businesses and hardworking folks in this country, we should do it. That's why this bill is so important to pass. I want to thank Chairman Williams and the committee for working with me on this legislation and for bringing it forward today. I urge my colleagues to support HR 4615 and Mr. Chair I yield back.
Roger Williams
Gentleman yields back, are there any other members who wish to be recognized for a statement? Seen none, I'd like to recognize the ranking member to speak on the bill and the amendment.
Nydia Velázquez
Thank you, Mr. Chairman. I appreciate the work of this bill's sponsors, Mr. Stauber and Ms. Scholten, to bring it before the committee today. This bill is a well-intentioned attempt to address a consistent and prominent issue for small businesses: timely payments and cash flow. Cash flow is critical for small firms. It is how they meet payroll, invest, grow and hire, and keep their doors open in both good times and bad.
As the committee continues to craft legislation to ensure small businesses are paid in a timely manner, we must also ensure the text matches the intent. While the ANS make improvements, additional changes are necessary. I continue to have concerns regarding the bill's alignment with existing policies and requirements that vary across federal agencies, CBO's estimated cost, and the lack of definition and clarity for the terms and timelines. If left unaddressed, this issue may cause implementation challenges and delays. Additionally, if SBA moves forward with its ill-advised proposal to redefine what is a small business government contractor, current authorities like those proposed in this bill will need reevaluation.
While all contractors should be paid in a timely manner, this law has been designed to address the disproportionate impact of limited cash flow on small firms. If they are now applicable to firms with very large contracts, thousands of employees and hundreds of millions in annual revenue, the consequences and the cost will change. I urge my colleagues to support HR 4615 today as amended. I hope we will continue to make improvements moving forward that resolve outstanding issues and ensure implementation matches intent. I yield back.
Roger Williams
Gentlelady yields back, I thank you for that. I now recognize myself for remarks on this bill and the amendment. I'd first like to thank our colleague Mr. Stauber from the great state of Minnesota for introducing this bill and also like to thank Ms. Scholten for co-leading. When a federal agency changes a construction contract, small business, they don't get to wait. Their work must be still be done and bills must be paid, and yet the contractor may wait months or even sometimes more than a year to get reimbursed for this additional work.
So while the government moves forward, small businesses are left carrying the cost for a contractor operating on thin margins that can delay and have real consequences. A large company may be able to carry that cost, a small contractor can't. And if that happens enough times, a small business may decide federal contracting just isn't worth the risk. That means fewer small businesses competing for contracts and ultimately higher costs in the long run. This bill, the Small Business Payment Performance Act of 2023, requires agencies to pay at least 50% of the estimated cost of the change upfront while leaving the final amount to be negotiated and that payment then flows down to the subcontractors who incurred the costs.
This bill is a simple way to make small businesses, to make sure small businesses aren't asked to finance the government's changes. I urge my colleagues to vote yes on HR 4615. I yield back and does any member wish to offer an amendment to the amendment in the nature of a substitute? Okay, seeing none, the question now occurs on the adoption of the amendment in the nature of a substitute to HR 4615. All those in favor say aye.
All those opposed say no. In the opinion of the chair, the ayes have it, the amendment in the nature of a substitute to HR 4615 is adopted. Okay, the question now occurs on ordering HR 4615 as amended to be reported favorably to the House. All those in favor say aye. All those opposed say no.
In the opinion of the chair, the ayes have it, HR 4615 as amended is agreed to.
Mr. Chair.
Yes, sir.
Roger Williams
Recorded vote is, has been requested. A roll call vote is ordered. Pursuant to committee rule 13 and rule 11, further proceedings on this bill now are postponed. The committee now moves to consideration of HR 10355, the Disaster Loan Outreach Consistency Act, introduced by Representative Mejia and King Heinz. The clerk will report the bill.
Roger Williams
Without objection, HR 10355 is considered as read and open for amendment. I now recognize Representative Mejia for the great state of New Jersey for a statement on the bill. Okay, I now recognize, she's not here. Okay. I now recognize Delegate King Heinz from the Great Northern Mariana Islands for a statement on the bill.
Kimberlyn King-Hinds
Thank you, Mr. Chairman and Ranking Member Velázquez, for your leadership and for the opportunity to speak on HR 10355, the Disaster Loan Outreach Consistency Act, which I am proud to co-lead with Representative Mejia. Mr. Chairman, this legislation addresses a straightforward but consequential problem. Disaster survivors should receive consistent, accurate, and current information about the assistance available to them regardless of which SBA field operation center handles their disaster. In the Northern Mariana Islands, we know firsthand how important timely disaster assistance is. Just this year, our communities were struck by two super typhoons and families and businesses across the Commonwealth are still recovering.
SBA's two disaster field operation centers play a critical role in communicating with survivors and explaining the disaster loan programs available to them. For many survivors, SBA's fact sheets, press releases, and other outreach materials are their primary source of information about these programs. That information needs to be accurate and up to date. Unfortunately, a May 2026 GAO report found inconsistencies in SBA's disaster loan to outreach materials. Depending on which field operation center handled a disaster, some materials did not include updated information, including changes to mitigation loan limits and deadline extensions.
Mr. Chairman, survivors should not receive different answers simply because their disaster is handled by a different SBA field office.
HR 10355 would require SBA to establish procedures to ensure its disaster outreach materials are consistent, accurate and current. The bill requires standardized templates, review and verification before materials are released and periodic reviews to ensure information remains up to date across both field operation centers. This is a common sense fix to ensure that disaster survivors get the information they need when they need it the most. I urge my colleagues to support this bipartisan legislation. Thank you, Mr. Chairman, I yield back.
Roger Williams
All right, are there any other members who wish to be recognized for statement on the bill? Okay, seeing none, I would like to recognize the ranking member to speak on the bill.
Nydia Velázquez
Thank you, Mr. Chairman. When disaster strikes, and it's striking more frequently than ever before, it is crucial that the victims have access to high quality, up-to-date information about the resources available to them. But these government resources are not stagnant. They are updated to reflect the realities of the world we live in. When it comes to the disaster loan program, which provides long-term, low-interest loans to individuals, homeowners and businesses in the wake of catastrophe, we have recently seen several rule changes.
For instance, in 2023, SBA updated the program to reflect cost of living increases, raising the home lending limits and extending the deferment period for repayment. The following year, FEMA updated their programs to remove the requirement that people apply for a disaster loan as a precondition for some types of individual assistance. These may sound minor, but they make a material difference for disaster victims. Unfortunately, the GAO recently found that not all victims were provided with full information about the rule changes. Specifically, some press releases contained different information depending on which part of the country you lived.
As a result, people in the eastern US often had more information about increased loan limits or the FEMA application process than people in the western half of the US. The Disaster Loan Consistency Act seeks to codify GAO recommendations that SBA establish a process to ensure all information disseminated in relation to the disaster loan program is current and consistent, no matter where you live. I want to thank Representative Mejia and Representative King-Hinds for their work in bringing partisan common sense legislation forward. I urge my colleagues to vote yes. I yield back.
Speaker 4
The gentlelady yields back, now I recognize myself to speak in support of this legislation. I want to thank our colleagues, Ms. Mejia and Ms. King-Hinds for introducing this bill. One of the SBA's core missions is supporting men and women who keep America's small businesses up and running, and when disaster strikes, the SBA's disaster loan program can help small businesses get back on their feet. A recent GAO report identified the opportunity to strengthen the SBA's disaster loan outreach, and after the SBA updated its materials to reflect its 2023 rule and FEMA's 2024 rule, GAO found that the information circulated varied across field operation centers. So the Disaster Loan Outreach Consistency Act promotes the consistent outreach across the SBA, so small business owners have access to clear and accurate information, and this bill strengthens the SBA's ability to deliver small businesses when disaster strikes.
So I urge my colleagues to vote yes on 10355, and is Ms. Mejia yet, can we let her before we close out, give remarks? Okay, I urge my colleagues to vote yes on HR 10355 and I yield back. Now does any other member wish to offer an amendment? Okay, seeing none, the question now occurs ordering HR 10355 reported favorably to the House. All those in favor say aye.
Roger Williams
All those opposed say no. In the opinion of the chair the ayes have it. HR 10355 is agreed to. Okay for what do we have King-Hinds?
Roger Williams
A recorded vote has been requested and a roll call vote is ordered so pursuant to committee rule 13 and House rule 11 further proceedings on this bill now are postponed. The committee now moves to consideration of HR 10371 the Ensuring SBA Implementation of GAO Recommendations Act of 2026 introduced by Representative MacIver and the clerk will report the bill.
HR 10371.
Roger Williams
And without objection HR 10371 is considered as read and open for amendment. I now recognize Ms. MacIver from the great state of New Jersey to speak on this legislation.
LaMonica McIver
Thank you Chairman for holding this markup today. I would like to speak in strong support of my bill HR 10371 the Ensuring SBA Implementation of GAO Recommendations Act of 2026 a common sense bill that I am proud to lead alongside my ranking member Velázquez of New York. Veterans bring leadership discipline and valuable experience to our economy. After serving our country many continue serving their communities by starting businesses creating jobs and investing in the neighborhoods they call home. The Small Business Administration has an important responsibility to ensure veteran entrepreneurs can access the federal programs and resources available to help their businesses succeed.
Congress also needs a reliable information to determine whether those programs are actually reaching veteran business owners. That is why more than 25 years ago Congress required the SBA to submit an annual report on the needs of veteran-owned and service-disabled veteran-owned small businesses. That report must explain how these businesses are using SBA programs compare their participation with the broader small business community provide information about federal contracts awarded to veteran-owned businesses and recommend ways to improve their access to assistance. Unfortunately the Government Accountability Office found that the SBA could not demonstrate that it had complied with the reporting requirement. Without complete and consistent reporting Congress cannot properly evaluate whether veteran entrepreneurs are receiving the support they have earned or identify where the improvements are needed.
My bill provides a straightforward solution. It gives the SBA's Office of Veterans Business Development 60 days to develop and implement policies and procedures ensuring that the agency complies with these existing reporting requirements. Better reporting will help us understand the challenges facing veteran and service-disabled veteran entrepreneurs evaluate their access to SBA assistance and track federal contracting opportunities reaching their businesses. Our veterans have upheld their commitments to this country. The federal government must uphold its commitments to them.
I urge my colleagues to support this common sense bill and help ensure that veteran business owners receive the attention and support they deserve. With that I yield back Mr. Chairman.
Roger Williams
Gentlelady yields back. Are there any other members who wish to be recognized for a statement?
Nydia Velázquez
All right, seeing none, I would like to recognize the ranking member to speak on this bill.
Thank you, Mr. Chairman. I commend Ms. MacIver for working on legislation to require SBA to close out a priority GAO recommendation. The Veterans Entrepreneurship and Small Business Development Act of 1999 requires the SBA to submit an annual report to the House and Senate Small Business and Veterans Affairs Committees on the needs of veteran-owned and service-disabled veteran-owned businesses. This is how we honor their service. The report must include pertinent information on the availability of SBA programs for veteran-owned businesses and offer ways to improve access to them.
GAO found that the SBA's existing reporting did not include the requisite information and it issued a priority recommendation that the SBA establish procedures to comply with the requirement. This is a straightforward recommendation for SBA to close out, and doing so will deliver an important benefit to veterans. Before SBA cuts staff and moves offices around, it should make sure it is getting the basics right. Closing out this recommendation within 60 days is a simple step that can make a meaningful difference for programs that benefit veterans. SBA currently has 59 open GAO recommendations, 14 of which are priority recommendations.
It would be important for this committee to hold the agency accountable, and I ask for everyone to support this bill. I yield back.
Roger Williams
Gentlelady yields back. I thank you for that, and now I recognize myself to speak in support of this legislation. I want to thank our colleague, Ms. MacIver, from the great state of New Jersey, for introducing this bill. And as we said, back in '99, Congress asked the SBA to give Congress a clear picture of how SBA programs are serving veteran entrepreneurs, including contracting opportunities and ways to strengthen support. The SBA already provides much of this information through its existing reports.
A 2023 GAO report found that those reports did not fully line up with the specific reporting requirements that Congress had established. So this bill builds on the SBA's existing reporting efforts by making those requirements clear and easier to follow, so what Congress can continue getting a consistent picture of how the SBA is supporting veteran small business owners. And with that, I urge my colleagues to vote yes on HR 10371. I yield back. Does any member wish to offer an amendment?
Seeing none, the question now occurs on ordering HR 10371 reported favorably to the House. All those in favor say aye. All those opposed say no. In the opinion of the chair, the ayes have it. HR 10371 is agreed to.
For what purpose does the gentleman seek recognition?
I ask for a recorded vote.
Roger Williams
Recorded vote has been requested. A roll call vote is ordered, and pursuant to committee rule 13 and House rule 11, further proceedings on this bill are postponed. This committee now moves to consideration of HR 10353, the SBIC Reporting Modernization Act of 2026, introduced by Representatives Finstad and Morrison, and the clerk will report the bill.
HR 10353, a bill to amend...
Roger Williams
Without objection, HR 10353 is considered as read and open for amendment. I now recognize Mr. Finstad from the great state of Minnesota to speak on this legislation.
Brad Finstad
Thank you, Chairman Williams. I rise today in support of my bill, HR 10353, the SBIC Reporting Modernization Act of 2026. I am proud to lead this bipartisan effort with Representative Morrison. Small business investment companies play a vital role in helping entrepreneurs and small business owners access the capital they need to start and grow their business.
To make sure this program is working properly, Congress and the American people need timely and clear information about the program's performance. That is exactly what my bill does. It requires the SBA to publish quarterly reports on the performance of the SBIC program, including licensing information, the number of jobs created or sustained through SBIC investments, and it improves reporting measures to improve congressional oversight of this program. This is a common sense and bipartisan effort to improve transparency and accountability while making sure small businesses have the access to capital they need. I appreciate the committee's consideration of this bill and I urge my colleagues to support it.
Thank you, Mr. Chair, and I yield back.
Roger Williams
I now recognize Dr. Morrison from the great state of Minnesota to speak on this legislation.
Jill Morrison
Thank you, Mr. Chairman. It's my honor to co-lead on this important bipartisan legislation. Access to capital is crucial for day-to-day business operations as well as fueling the long-term growth of small businesses. However, obtaining capital is a challenge, especially for small businesses. That's why the Small Business Administration Small Business Investment Company program is such a vital tool for helping small businesses access private capital.
But to ensure the integrity of the program, Congress must have access to accurate and up-to-date information about the number of licenses, applicants, and jobs created through the program. Unfortunately, over during the past couple of years, SBA has stopped providing this information to Congress. Given the many changes made by this administration that have harmed small businesses, congressional oversight has never been more important. That's why I urge my colleagues to support the SBIC Reporting Modernization Act, which will require the Small Business Administration to publish quarterly reports on the performance of the SBIC program, ensuring Congress is able to develop solutions to problems as they arise. Thank you, Mr. Chair, and I yield back.
Speaker 9
Gentlelady yields back. Is there any other member who wishes to be recognized for a statement?
Chairman.
Speaker 9
The need to ensure that our small businesses, our entrepreneurs, have accurate information, have access to the resources that our government is offering rightfully to ensure that our small businesses and our economies grow is critical and important. I want to first say that I hope that all of my colleagues vote yes on this bill. Thank you. I also want to pivot and give just a little plug for my the bill I am also introducing, H.R. 10355, the Disaster Loan Outreach Consistency Act. Similar to the bill that we were just speaking to, it is critical and important that in in moments of severe weather, small businesses have the access to information that they need in order to navigate critical and difficult moments.
It is the SBA's responsibility to make sure that these programs are regularly updated and that accurate information actually reaches business owners. Recently, as recently as this summer, the SBA and FEMA have have worked together to expand these disaster loans and make them easier. However, this information is still not reaching the people that we are committed to serve. It is deeply troubling that the SBA has failed in what I believe is a basic duty. Every year, about 3,000 small businesses rely on on disaster relief loans, and that means that thousands of owners are trying to recover and rebuild without the most up-to-date information.
I will say that in New Jersey, nearly 99% of all businesses are small businesses.
This is particularly true in my district of New Jersey's 11th Congressional, and over 1 million owners are consistently threatened by severe storms and floods. Again, because of SBA's oversight, owners who just lived through a recent summer storm don't have current information to rebuild. So again, with nearly 99% of businesses in New Jersey impacted by what we do in this chamber and what we do in Washington, D.C., I have introduced a bipartisan Disaster Loan Outreach Consistency Act with my colleague Representative Kimberly King-Hinds, who I wish to recognize for their leadership. This bill offers a simple solution by requiring the SBA establish clear, standard rules so that disaster information is accurate and consistent. And with that, I yield.
Roger Williams
Are there any other members? The gentlelady yields back. That's a pretty good plug that you went back and forth.
You know, Jersey.
Roger Williams
Are there any other members who wish to be recognized for a statement? Seeing none, I'd like to recognize the ranking member to speak on the bill.
Nydia Velázquez
Thank you, Mr. Chairman. I would like to thank Representatives Finstad and Dr. Morrison for their bipartisan work on this bill. Timely information from the SBA is key to ensuring the effective operation of the SBIC program. In order for this committee to carry out oversight, we need the latest data regarding program operation. In fact, the SBA is required by statute to provide a full and detailed description of the SBIC program in its annual report to Congress.
Historically, the SBA has published quarterly updates on SBICs. Unfortunately, despite my urging, the SBA has not issued any complete report since fiscal year 2024. This legislation will require the SBA to publish quarterly reports. This report will detail important information including data on SBIC licenses, debentures issued under the program, and the jobs created and sustained through SBIC investment in small businesses. The SBA has already provided much of this data in the past.
Requiring this report will ensure that Congress has the up-to-date figures to monitor and address challenges in the SBIC program as they arise. SBICs play a key role in providing small businesses with the capital they need to succeed. It is our responsibility to support effective operation of this program and take steps to get the data we need to oversee it. The bill is supported by the Small Business Investor Alliance. Thank you to Representative Finstad and Dr. Morrison for developing this legislation.
I urge my colleagues to support it, and I yield back.
Roger Williams
The gentlelady yields back. I now recognize myself to speak on the bill. I want to also thank our colleagues Mr. Finstad and Dr. Morrison from the great state of Minnesota, two of them, for introducing this bill. The SBA Small Business Investment Company program is one way to help American businesses get the capital they need to grow. In fiscal year 2025 alone, SBIC funds closed with a record $53 billion in combined private capital and SBA-backed leverage.
The bill builds on that success by giving Congress a more regular look at how the program is performing, and instead of waiting for an annual report, the SBA would provide quarterly updates on licensing, capital deployed, and jobs created or sustained. That means better information, better oversight, and better ability to keep doing what's working. This bill makes an already successful program even stronger and ensures we have the information we need to keep delivering for American small businesses. So I too urge my colleagues to vote yes on H.R. 10353, and I yield back.
Does any member wish to offer an amendment? Okay, seeing none, the question now occurs in order in HR 10353 reported favorably to the House. All those in favor say aye.
Roger Williams
All those opposed say no. In the opinion of the chair, the ayes have it. HR 10353 is agreed to.
Mr. Chairman?
Yes, sir.
Roger Williams
We've had a recorded vote requested. And a roll call vote will be is ordered. So pursuant to committee rule 13 and rule 11, House rule 11, further proceedings on this bill are postponed. Committee now moves to consideration of HR 10352, the 504 Loan Program Level Flexibility Act, introduced by Representative Simon and Alford. The clerk report the bill.
HR 10352, a bill...
Speaker 28
Without objection, HR 10352 is considered as read and open for amendment. I now recognize Ms. Simon from the great state of California to speak on this legislation.
Lateefah Simon
Well, thank you, Chair, and thank you to Ranking Member Velázquez, and I want to thank Congressman Alford for co-leading this bipartisan bill alongside me. And I'm proud to speak in support of the 504 Program Level Flexibility Act. Now, we all know that the cost of doing business continues to go up day by day. And for small businesses, that can mean it's harder to invest, it's harder to grow, and it's harder to compete. The SBA 504 loan program helps entrepreneurs finance major assets such as land and property and much-needed equipment.
And when demand for 504 loans reaches its authorized limit, the program shuts down. That means when a small business needs help the most, like during a recession or as we can recall during a pandemic, they could be locked out of financing. My bill, our bill, gives the SBA flexibility to keep this financing accessible. It allows for SBA to increase the 504 program's authorization limit up to 15% once per fiscal year. And importantly, this flexibility already exists for the 7(a) loan program.
This bipartisan legislation simply brings 504 loan program standards up to parity. By giving the SBA the ability to adapt to to loan demand in real time, we can and we will help small businesses keep their doors open, make much-needed investments, create jobs, even when economic conditions are tough, like right now. I urge all of my colleagues to support this legislation and I want to thank my colleague from across the aisle for his co-authorship. Thank you, sir. Chairman, I yield back.
Mark Alford
Gentlelady yields back. I now recognize Mr. Alford from the great state of Missouri to speak on this legislation.
Well, thank you, Chair and Ranking Member Velázquez, and especially thank you, Rep. Simon, for working with us on this. And this is an important piece of legislation. Mr. Chair, I was talking with your good friend, your pastor, who led our prayer right before this meeting, and we were talking about how things just simply don't seem to get done in Washington, D.C. these days. And he made the comment, as a person who comes up here every so often, how things do get done on this committee. And how most of the time we're unified in moving the ball forward and advocating for Main Street America.
And I think this is a good example of that. I'm proud to co-lead this with Representative Simon. You know, the 504 loan program is one of the most important tools we have to help small businesses make long-term investments in their future, whether that means purchasing a facility, expanding a plant, or investing in new equipment. And as we work to bring manufacturing back to the United States and strengthen our domestic supply chain, demand for 504 financing is rising. Congress has been working to expand access to SBA capital through the Chairman's Made in America Manufacturing Finance Act, as we need to make sure the 504 program itself has the capacity to meet that demand.
Speaker 30
The 504 Program Level Flexibility Act provides a straightforward solution. If SBA determines that 504 loan commitments could exceed the annual authorization level, the administrator may increase commitments up to 115% of that limit. It's pretty simple. This authority is carefully limited. The SBA must notify Congress at least 30 days in advance, and the flexibility may only be used once per fiscal year.
It simply gives the 504 program the same type of flexibility that already exists in the 7(a) loan program. This bill is an important piece of a broader effort. My STRONG Act would double the maximum loan size in both the 7(a) and 504 programs so that SBA lending keeps pace with the rising cost of starting, expanding, and modernizing a small business, taking it from 5 million to 10 million. The Made in America Manufacturing Finance Act would further increase lending limits for small manufacturers so they can purchase equipment, so they can expand facilities, reshore production, and create jobs right here at home in the United States of America. Those reforms will only work if the 504 program has enough room to serve qualified borrowers when demand surges.
The 504 Program Level Flexibility Act makes sure that an annual cap does not stand in the way of a very small business and manufacturers we are trying to help. And I'm proud once again to co-lead this with Representative Simon, and I urge my colleagues to fully support this. Thank you so much, and I yield back.
Roger Williams
The gentleman yields back. Are there any other members who wish to be recognized for a statement? All right, seeing none, I'd like to recognize the ranking member to speak on the bill.
Nydia Velázquez
Thank you, Mr. Chairman. And thank you to Ms. Simon and Mr. Alford for working across the aisle on this important legislation. The 504 CDC loan guarantee program backs long-term loans to small businesses for major assets such as land, building, and heavy equipment. The program helps to ensure that small businesses have access to the funding they need to sustain and grow their operations. Each fiscal year, Congress sets a program limit for the 504 program.
In prior years, greater than anticipated demand has led program lending to come close to the limit. If the limit is reached, the 504 program will shut down for the remainder of the fiscal year, preventing small businesses from accessing financing that they would otherwise benefit from. This legislation would allow the administrator to adjust the program limit by up to 15% once per fiscal year. Making this change creates flexibility to avoid a program shutdown, and Congress, like Ms. Simon just mentioned, has already granted the administrator the same permission for the SBA's flagship 7(a) program. Advancing this legislation will help ensure that businesses on Main Street have uninterrupted access to the SBA's key lending programs to meet demand for investment and growth.
The National Association of Development Companies has endorsed this legislation. Thank you again to Ms. Simon and Mr. Alford for their work on this bill.
Roger Williams
I urge my colleagues to support it. Thank you, I yield back.
Gentlelady yields back. I now recognize myself to speak on this bill, and I want to thank our colleagues Ms. Simon also and Mr. Alford for introducing this bill. The SBA's 504 loan program gives a small business access to long-term fixed-rate financing for major investments, things like land, buildings, and heavy equipment. Right now there is a yearly lending cap, and if demand is high and the SBA hits that cap, the SBA has to stop making loans. And as America aims to reshore American manufacturing jobs and restore Made in America, having this flexibility is vital.
And as we continue to see more investment in America, manufacturing small businesses need access to capital to support that investment and keep it going. So the 504 Program Level Flexibility Act creates a release valve to keep capital flowing during periods of high demand, and it would allow the SBA to increase the annual 504 loan commitment up to 15% with the advance notice to Congress. So it's a simple change that makes, keeps capital moving when small businesses are ready to invest and small businesses are ready to grow. And I urge my colleagues to vote yes on HR 10352, and I yield back. Does any member wish to offer an amendment?
All right, seeing none, the question now occurs on ordering HR 10352 reported favorably to the House. All those in favor say aye.
Roger Williams
All those opposed say no. In the opinion of the chair, the ayes have it. HR 10352...
Mr. Chair.
You seek recognition.
Roger Williams
Okay, recorded vote has been requested. A roll call vote is ordered, and pursuant to committee rule 13 and house rule 11, further proceedings on this bill are now postponed. The committee now moves to consideration of HR 10338, the Cybersecurity for Small Business Act of 2026, introduced by Representatives Weed, King, Hines, and Van Dine, along with Representative Latimer as committee co-lead. The clerk will report the bill.
Roger Williams
Without objection, HR 10238 is considered as read and open for amendment. The bill sponsor, Representative Weed, has an amendment in the nature of a substitute at the desk. The amendment has been distributed in advance. So the clerk will report the amendment.
Roger Williams
Without objection, the amendment will be considered as read and will serve as base text for the purpose of further amendment. I now recognize Mr. Weed from the great state of Wisconsin to speak on his bill and the amendment.
Jason Wood
Thank you, Mr. Chairman. In recent years, American businesses have faced an increase in cybersecurity threats from actors both foreign and domestic. While large businesses often have experts dedicated to preventing these attacks, small businesses often don't. This lack of resources leaves our nation's small businesses especially vulnerable to these threats. My bill HR 10238, the Cybersecurity for Small Business Act, requires that the Small Business Administration coordinate with other federal agencies, such as the Cybersecurity and Infrastructure Security Agency, when disseminating recommendations to small businesses on how to secure their cyber infrastructure.
In addition, my bill will require the SBA to provide small businesses with clear information on how to comply with the Department of War's Cybersecurity Maturity Model Certification program. This will help small businesses better understand the cybersecurity requirements that they must meet to compete for federal contracts and ensure that they're not forced to spend hundreds of thousands of dollars on cybersecurity measures that they do not need simply because Washington bureaucrats have failed to provide clear guidance. This common sense bill will guarantee small businesses have access to high-quality, practical, and most up-to-date resources they need to protect themselves from cyber attacks. I urge all my colleagues to support this important piece of legislation and stand with America's small businesses. I yield back.
Roger Williams
Gentleman yields back. I now recognize Mr. Latimer from the great state of New York to speak on the bill and the amendment.
George Latimer
Thank you, Mr. Chairman. I want to thank Representative Weed and our other colleagues for this bill. I find, as well as we all do, when we interact with small businesses in our district, and whether it's in suburban New York or Wisconsin or any of the other parts of our nation, that the small businesses do in fact, as Congressman Weed said, have a concern that the growing reliance on cyber information and means of both sale of product and accounting and reporting is subject to a greater potential for claims and all different types of actors that would hurt that business in a profound way. So the information that this bill requires the SBA to work on, both directly through relevant agencies as well as through the Department of Defense, is critical. So I'm happy to support it.
This bill deserves bipartisan support across the board, and Mr. Chairman, I hope we'll all have a favorable result on this.
Roger Williams
The gentleman yields back, and are there any other members who wish to be recognized for a statement? Seeing none, I would like to recognize the ranking member to speak on the bill and the amendment.
Nydia Velázquez
Thank you, Mr. Chairman. I appreciate the sponsors, Mr. Weed and Mr. Latimer, for their work to bring a bipartisan version of this bill before the committee. The US Chamber of Commerce estimates that 99% of small businesses use at least one technology platform and 58% use at least four. Yet only a quarter have cybersecurity and malware detection tools. Putting in place the right cybersecurity and cyber hygiene infrastructure, system, and practices can be a time-consuming and expensive undertaking.
Small business government contractors face additional costs and complexities as a result of regulations that require expensive cybersecurity certifications prior to contract award. We know that at times when resources have been developed and are available from federal agencies to assist small businesses, they do not reach their intended targets. This bill will assist the small businesses seeking those resources by allowing SBA to disseminate them to small firms across the country. In closing, I want to thank the chairman for working with us to define the appropriate role of the SBA in this effort. It is important that we seek to maximize the SBA resources by ensuring that they supplement rather than duplicate existing programs that are more suited for the task.
I urge my colleagues to support this bill that makes these important clarifications and to vote for HR 10238 as amended. I yield back.
Roger Williams
The gentlelady yields back, and thank you for that. And I now recognize myself to speak on the bill and the amendment. I want to thank our colleagues, Mr. Weed, along with Ms. King-Hinds, Ms. Van Duyne, for introducing this bill, and I'd also like to thank my friend Mr. Latimer for co-leading. Small businesses are increasingly targeted by cybercriminals who see them as an easy target. And criminals know small businesses may have fewer resources to defend themselves.
And now they're using AI to make these attacks more effective and harder to detect. So in fact, the small businesses are 210% more likely to have a cyber incident than a large company, and the threat is only getting worse. So at that same time, small business competing for federal contracts face another challenge, and that's figuring out which cybersecurity requirements apply to them and how to meet them. So the Cybersecurity for Small Business Act of 2026 helps solve this problem. It directs the SBA to provide practical information resources to help small business strengthen their cybersecurity and adopt best practices.
And it keeps them, allows them to navigate CMMC requirements by having the SBA work through the Department of War to make compliance information easier to understand and access. We cannot eliminate the cyber threat facing small businesses, but we can make sure that small businesses have the tools to defend themselves and the support they need to meet federal cybersecurity requirements without being shut out of the federal contracting business. So I urge my colleagues to vote yes on H.R. 10238 and I yield back.
Now, does any member wish to have an amendment to the amendment in the nature of a substitute? All right, seeing none, the question now occurs on the adoption of the amendment in the nature of a substitute of H.R. 10238. All those in favor say aye. All those opposed say no. In the opinion of the chair, the ayes have it.
The amendment in the nature of a substitute to H.R. 10258 is adopted and the question now occurs on ordering H.R. 10238 as amended to be reported favorably to the House. All those in favor say aye. All those opposed say no. In the opinion of the chair, the ayes have it. H.R. 10238 is agreed to.
Mr. Chairman?
Roger Williams
For what purpose does the gentleman seek recognition from Wisconsin?
I ask for a recorded vote.
Roger Williams
A recorded vote has been requested. A roll call vote is ordered and pursuant to committee rule 13 and House rule 11, further proceedings on this bill are now postponed. Okay, the committee now moves to consideration of H.R. 9718, the Reshoring American Manufacturing Act of 2026, led by Representatives Weed, Van Dine, and Elsie, along with Representatives Olszewski and the Big O as the committee co-lead. The clerk report the bill.
Speaker 10
H.R. 9718, a bill to require the administrator of the Small Business...
Roger Williams
Without objection, H.R. 9718 is considered and read and open for amendment. The bill sponsor, Representative Weed, has an amendment in the nature of a substitute at the desk. The amendment has been distributed in advance. The clerk report the amendment.
Amendment in the nature of a substitute to H.R. 9718.
Jason Wood
Thank you, Mr. Chairman. For decades, the offshoring of American manufacturing has pulled jobs and production capacity away from cities and towns across our nation. This has not only weakened our domestic supply chains, but has left small businesses with fewer opportunities here at home. In May of last year, the Small Business Administration launched the Make Onshoring Great Again portal to connect small businesses with American manufacturers and producers. The portal provides businesses with resources to help reshore their operations and strengthen Made in America manufacturing.
It currently features more than 1 million American suppliers, giving small businesses greater access to domestically sourced products. My bill, H.R. 9718, the Reshoring American Manufacturing Act, will codify this portal, allowing small businesses to continue to shift manufacturing back to the United States and reduce our reliance on foreign nations. Reshoring manufacturing is critical for restoring our nation's economic independence, maintaining global supply chain control, and supporting American workers. And I encourage my colleagues to support this important piece of legislation. I yield back.
Roger Williams
Gentleman yields back. I now recognize Mr. Olszewski from the great state of Maryland to speak on the bill and the amendment.
Johnny Olszewski
Thank you, Mr. Chairman. Thank you, Ranking Member Velázquez. I want to thank, start by thanking Representative Weed for his partnership and leadership on this important effort. This bill addresses a straightforward issue: making it easier for small businesses to identify resources and potential partners as they consider bringing manufacturing operations back to the United States. The SBA has an established onshoring portal that connects small businesses with existing manufacturing directories and other resources.
Speaker 33
As mentioned by my colleague, this legislation would codify that portal, also provide a framework for maintaining the resource and making it available to businesses in a centralized location. I also want to highlight the bipartisan work that went into the amendment before us. The amendment adds accountability by requiring the SBA to evaluate the effectiveness of this portal, report to Congress annually, and establish a four-year sunset. These provisions are important because they will help Congress assess whether this resource is useful to small businesses and whether it's meeting its intended purposes. Supporting domestic manufacturing and strengthening supply chains are bipartisan issues in this Small Business Committee, and I appreciate the opportunity to work across the aisle on this legislation.
I urge my colleagues to support the amendment and the legislation, and I yield back.
Nydia Velázquez
Thank you, Mr. Chairman. I commend Mr. Orsholski for working with Mr. Weed to reach a bipartisan agreement on this bill. American small businesses need policies that help them grow, compete, and create good-paying jobs. And let me be clear: I fully support bringing manufacturing and critical supply chains back to the United States. But we cannot ignore the facts that the administration's tariff policies have weakened the economy, slowed job growth, and put an enormous strain on Main Street businesses.
This bill will not undo the damage caused by those policies, but it can help small businesses find and connect with the US manufacturers, producers, and suppliers. That is a step in the right direction. I appreciate the improvements that were made to this bill. The amendment in the nature of a substitute will require SBA to conduct a study on the effectiveness of the webpage and issue a report to Congress. Importantly, the requirements of the bill will sunset after four years, giving both the SBA and Congress an opportunity to evaluate whether this webpage is delivering results and whether we are using taxpayers' dollars effectively and responsibly.
Again, I appreciate their efforts on working together to reach a bipartisan agreement. If we want to strengthen American manufacturing and bring down costs, we need to give small businesses certainty and the resources they need to buy American and compete. I urge my colleagues to support this bill.
Roger Williams
The gentlelady yields back. I now recognize myself to speak on the bill. I want to thank our colleagues, Mr. Weed along with Ms. Van Duyne, Mr. Ellzey, for introducing this bill, and I'd like to also thank Mr. Orsholski for co-leading it. Now, for decades, Washington has sat idle while our manufacturing base was hollowed out and good-paying jobs, critical supply chains, and entire industries were moved overseas. Small manufacturers across the country watched supply chains grow longer, more fragile, and more dependent on foreign adversaries.
So we saw the consequence of that during the dependence during COVID when Americans faced shortages of everything from semiconductors to basic medical supplies, and reliance on adversarial nations of our manufacturing needs isn't just bad economics, it's a national security vulnerability. The administration and this committee have made reversing that trend a priority, and in May of last year, the SBA launched the Make Onshoring Great Again portal, a searchable database connecting small business with more than one million American suppliers, and it's already helping job creators source domestically instead of overseas. HR 9718 builds directly on that success. It codifies and strengthens this work by directing SBA's Office of Manufacturing and Trade to establish a centralized webpage that gives small business a single reliable source for contacts, tools, and information they need to bring manufacturing home. So when small manufacturers can find American suppliers instead of foreign adversaries, we strengthen our supply chains, we bring jobs back to our committees and communities, and we make the country less dependent on nations that do not have our best interests at heart.
Does any member wish to offer an amendment to the amendment in the nature of a substitute? Seen none, the question now occurs on the adoption of the amendment in the nature of a substitute to H.R. 9718. All those in favor say aye. All those opposed say no. Opinion of the chair, the ayes have it, the amendment on the nature of substitute to H.R. 9718 is adopted.
The question now occurs on ordering H.R. 9718 as amended to be reported favorably to the House. So all those in favor say aye. All those opposed say no. Opinion of the chair, the ayes have it, H.R. 9718 is amended, is agreed to.
Mr. Chairman?
Roger Williams
Recorded vote has been requested. A roll call vote is ordered. Pursuant to committee rule 13 and House rule 11, further proceedings on this bill are now postponed. And we now have come to our last one. I want to thank everybody for their cooperation and we'll get on with this last one.
The committee now moves the consideration of H.R. 10375, the 504 Modernization of Small Manufacturing Enhancement Act, led by Ranking Member Velázquez and myself, and the clerk will report the bill.
H.R. 10375... That act in H.R. 10375 is considered as read and open for amendment. I now recognize the ranking member to speak on her legislation.
Nydia Velázquez
Thank you, Mr. Chairman. Today we are marking up my legislation, the 504 Modernization and Small Manufacturer Enhancement Act. This legislation reflects months of back-and-forth negotiations, and I am proud to say this is a true bipartisan product. This legislation will boost CDCs' ability to support economic and community development activities and help small businesses retain and create jobs. First, the bill makes additions to the public policy goals CDCs are tasked with fulfilling, bringing them in line with our current needs.
These amendments include workforce development benchmarks and prioritizing the expansion of businesses with 10 or fewer employees. Critically for New York, Puerto Rico, Texas, and hundreds of other communities across the country, we have created revitalizing areas impacted by a natural disaster as a new CDC public policy goal. Doing so helps the 504 program direct loans to strengthen disaster resilience and reinforce the role of small businesses as the backbone of local economies during disaster recovery. Further, this bill expedites the 504 loan origination process by enabling CDCs to facilitate some of the loan closing on their own while ensuring the SBA remains involved in the final approval. A long-standing priority of mine has been reforming the rules governing how 504 program loans can be used to acquire, renovate, or reconstruct mixed-use buildings.
There are thousands of mixed-use buildings across this country, from urban Brooklyn to rural Texas. Buildings with a small business on the ground floor, a bodega, a laundry or dry cleaners, a restaurant or retail business, and small apartments on the second or third floor.
Revitalization of our main streets and urban corridors have been held back for decades because we have failed to classify these buildings and develop a government-supported loan program to fit their needs. By making critical changes to the leasing requirements, we can unleash the 504 program's full potential to help redevelop these buildings. Increasing the portion of a building that a small business may lease out from 49 to 66 percent allows a small business to use a 504 loan to properly operate on the street level of a building while leasing the top floors for residential or commercial use, increasing our commercial output and housing supply at the same time. So, we need to stop talking about the affordability crisis in this country and look for real solutions, and here we have one. Lastly, this legislation provides overdue clarity to CDCs, lenders, and most importantly, the SBA that the credit elsewhere exemption, which is intended only for the 7(a) program, does not apply to the 504 CDC program.
The 7(a) program and the 504 program are two entirely separate programs, and it is time that the SBA and some interested parties and organizations stop conflating them as such. I want to thank Chairman Williams and his team for his partnership on this legislation and his agreement that many of these changes are long overdue. I hope we can continue to work together to put pressure on our friends in the Senate to help us turn this legislation into law before the end of the year. The National Association of Development Companies supports this legislation. I urge my colleagues to support the bill.
I yield back.
Roger Williams
Lady yields back. I now recognize myself to speak on the bill, and I want to thank my colleague again, Ranking Member Velázquez and my friend from the great state of New York for introducing this bill. This morning we talked about the SBA's 504 program, but I want to re-emphasize that it gives small businesses long-term fixed-rate financing to buy land, facilities, and heavy inventory and heavy equipment. This program is more important than ever. The Trump administration and the SBA have focused on bringing manufacturing back to America and expanding domestic production.
So, but to have offshore manufacturing or reshore manufacturing, we must make sure small manufacturers can get the capital to do it, and to have Made in America, we need to make sure Main Street has the financing to make that happen. This bill tightens up the 504 program. It helps relieve delays caused by bottleneck in the closing process and gives small businesses more flexibility when they need a larger facility as they grow. So at the end of the day, this is about making sure the 504 program keeps doing what Congress designed it to do: help American entrepreneurs invest, expand, and build here at home. So I urge my colleagues to vote yes on H.R. 10375.
I yield back, and are there any other members who wish to be recognized for a statement on this bill? All right, there's, seeing none, there is an amendment at the desk. Oh, seeing none, okay. The question now occurs during H.R. 10375 reported favorably to the House. All those in favor say aye.
All those opposed say no. In the opinion of the chair, the ayes have it. H.R. 10375 is agreed to.
Roger Williams
Member asks for a recorded vote. Recorded vote has been requested. A roll call vote is ordered. Pursuant to committee rule 13 and house rule 11, further proceedings on this bill are proposed. So that, that concludes the consideration of legislation for today's markup.
I want to thank everybody here. I think for those of you in the gallery, you can see we actually can do things without yelling and screaming at each other and actually get things done.
Now we've got to get the Senate after it, don't we? Huh? But so this committee will stand in recess subject to the call of the chair. Members, please return at 3:30 to resume consideration of the bills and amendments on which we will roll call the votes that were requested and postponed. Okay.
Thank you. Congratulations.
Okay, if I can have everybody's attention. Before we get started, I just want to say that this has been a really great markup. I think it shows people that we can get things done without a lot of being upset and a lot of anger. We really care about our country and what we want to do for Main Street. I want to thank all of you for making that, and I want to thank the ranking member for her leadership.
And you're not coming, you're going to go somewhere else, right? I know, but we appreciate you. It's been a joy to work with you and everybody. So with that in mind, we'll go ahead and get started and get this thing going. This committee will come to order.
We will resume consideration of the bills on which roll call votes were requested and postponed. We will begin with H.R. 10329. The question now occurs on ordering H.R. 10329 reported favorably to the House. I'm sorry, the clerk will open the vote. Are there any other members who have not voted or wish to change their vote?
Okay, if not, the clerk will close the vote and the clerk will report.
Roger Williams
Will everybody please turn their phones off? Okay, the motion is agreed to and H.R. 10329 will be reported favorably to the House. Is the president calling? It's the president? Well, let me talk to him.
Okay. All right, now the question now occurs on ordering H.R. 4615 as amended reported favorably to the House. The clerk will open the vote. Are there any members, okay, are there any members who have not voted or wish to change their vote? If not, the clerk will close the vote and the clerk will report.
Roger Williams
Okay, the motion is agreed to and H.R. 4615 as amended will be reported favorably to the House. The question now occurs on ordering H.R. 10355 reported favorably to the House. The clerk will open the vote. Are there any other members who have not voted or wish to change their vote? If not, the clerk will close the vote and the clerk will report.
Roger Williams
The motion is agreed to and H.R. 10355 will be reported favorably to the House. The question now occurs on ordering H.R. 10371 reported favorably to the House. The clerk will open the vote. Are there any other members who have not voted or wish to change their vote? If not, the clerk will close the vote and the clerk will report.
Roger Williams
The motion is agreed to and H.R. 10371 will be reported favorably to the House. The question now occurs on ordering 10353 reported favorably to the House. The clerk will open the vote. Are there any members who have not voted or wish to change their vote? If not, the clerk will close the vote and the clerk will report.
Mr. Chairman, on this vote, the ayes are 23 and the nays are zero.
Speaker 21
The question now occurs on ordering 10352 reported favorably to the House. The clerk will open the vote. Are there any other members who have not voted or wish to change their vote? If not, the clerk will report.
Roger Williams
Okay, the motion is agreed to and H.R. 10352 will be reported favorably to the House. The question now occurs on ordering H.R. 10238 as amended reported favorably to the House. The clerk will open the vote. Are there any other members who have not voted or wish to change their vote? If not, the clerk will close the vote, the clerk will report.
Roger Williams
The motion is agreed to and H.R. 10238 as amended will be reported favorably to the House. The question now occurs on ordering H.R. 9718 as amended reported favorably to the House. The clerk will open the vote. Are there any other members who have not voted or wish to change their vote? If not, the clerk will close the vote, the clerk will report.
Roger Williams
The motion is agreed to and H.R. 9718 as amended will be reported favorably to the House. The question now occurs on ordering H.R. 10375 reported favorably to the House. The clerk will open the vote. Are there any other members who have not yet voted or wish to change their vote? If not, the clerk will close the vote.
The clerk will report.
Roger Williams
The motion is agreed to and H.R. 10375 will be reported favorably to the House. Again, I want to thank everybody for this today and for what we've done this whole year. I think we've helped Main Street and made some good decisions. And if there's no further business, this concludes today's markup. Without objection, the committee staff is authorized to make technical and conforming changes, and members have two business days to file additional supplemental dissenting and minority views.
I want to thank all of you again for being here today. May God bless you when you go home, and God bless America. Without objection, the committee stands adjourned.