Washington, D.C. Today, the U.S. Senate Committee on Small Business and Entrepreneurship held its first legislative markup of the 116th Congress, approving three bills and one nomination. The legislation, which was reported unanimously, and nominee, now go to the full Senate for consideration. Following the hearing, Chairman Rubio congratulated the committee on the quick progress that has already been made in advancing legislation to help small businesses.
“Small businesses are most vulnerable when they are hit by unexpected incidents like cyberattacks and natural disasters,” Chairman Rubio said. “With more than half of small businesses plagued by phishing attacks, Congress must act to help entrepreneurs better prepare against cyber crime. The bills reported today address the urgent need for better cybersecurity for businesses and for our federal agencies.”
The Committee approved the nomination of David C. Tryon to be Chief Counsel for the Office of Advocacy of the U.S. Small Business Administration as well as the following legislation to address cybersecurity and disaster recovery:
S. 771 - Small Business Cyber Training Act — Sponsored by Chairman Rubio and cosponsored by Senator Jeanne Shaheen (D-NH), this bill would create a training program for small business development centers (SBDCs) to prepare counselors in cyber planning assistance. Specifically, the bill would require SBDCs to have employees certified in cyber strategy counseling for small businesses. A one pager can be found here.
S. 772 - SBA Cyber Awareness Act — Sponsored by Chairman Rubio and cosponsored by Ranking Member Ben Cardin (D-MD), this bill would require the Small Business Administration (SBA) to develop a cyber strategy, examine its IT system components’ country of origin, and report on breaches and threats to the Small Business Committees. A one pager can be found here.
S. 862 – Rebuilding Small Businesses After Disaster Act — Sponsored by Senator Kennedy (R-LA) and cosponsored by Chairman Rubio and Senator Booker (D-NJ), this bill would make permanent changes to collateral requirements for unsecured SBA disaster loans for physical damages. A one pager can be found here.