Washington, D.C. – Today, U.S. Senator Marco Rubio (R-FL), chairman of the Committee on Small Business and Entrepreneurship, will introduce five bills to protect and expand economic opportunities for America’s small businesses and entrepreneurs. This morning, he penned an op-ed outlining his agenda for his chairmanship of the committee for the 116th Congress.
“America’s small businesses represent economic dynamism and a sense of community that is often missing from American life. Amidst rapid technological advances, shifting global economic trends, and rising foreign adversaries, we must fight to protect our small businesses,” Rubio said. “These five bills are aimed at encouraging American entrepreneurs to innovate, thrive, and grow so that we can keep our economy competitive on the global stage.”
Rubio’s five bills to protect America’s small businesses:
- The Preventing SBA Assistance from Going to China Act of 2019 will protect small businesses from Chinese interference by preventing loans and guarantees, money intended to stimulate the growth of American businesses, from going in the pockets of Chinese-owned firms.
- The Small Business Credit Protection Act, will provide notification requirements and free credit reports to small businesses in the wake of a data breach, such as the Equifax breach in 2017.
- The Small Business Relief from Disease Induced Economic Hardship Act will build upon the Small Business Act to make loans available to small businesses that suffer economic injury from disease-induced travel alerts or travel warnings issued by the federal government. This stems from Florida area businesses who have been directly impacted by the Zika virus.
- The Hearing Small Business Act will expand small businesses’ role in the regulatory process and require the government to consider feedback from small businesses in forming new regulations.
- The Advocacy Empowerment Act will ensure proper authority for SBA’s Office of Advocacy as it works to enact government-wide regulatory reform.