SBC Advances Pair of Commonsense Bills to Crack Down on Fraudsters, Support Rural Small Businesses

WASHINGTON – The U.S. Senate Committee on Small Business and Entrepreneurship, led by Chair Joni Ernst (R-Iowa), advanced a pair of bipartisan bills to crack down on fraud and expand rural small businesses’ access to critical resources.

“The Committee on Small Business and Entrepreneurship continues to enact commonsense solutions to help Main Street,” said Chair Ernst.

Senators Todd Young (R-Ind.) and Ernst’s Assisting Small Businesses Not Fraudsters Act prevents criminals convicted of defrauding the Small Business Administration (SBA) from receiving future assistance from the agency. 

“After the previous administration failed to pursue pandemic fraud, we are making up for lost time by holding criminals accountable,” said Chair Ernst.

"Covid-era programs meant to support small businesses were repeatedly taken advantage of by fraudsters, depriving businesses of much-needed relief. I'm leading this effort to ensure that those convicted of defrauding the SBA will no longer be able to access future financial assistance from taxpayers," said Young.
 

The Coordinated Support for Rural Small Businesses Act led by Senators Jeanne Shaheen (D-N.H.) and John Kennedy (R-La.) increases coordination between the SBA and U.S. Department of Agriculture to support rural small businesses.

“In towns across Iowa, small businesses are the lifeblood of the local economies. This bipartisan measure will streamline coordination between government agencies and help ensure that these job creators have access to the resources they need to succeed,” Chair Ernst.

“Louisiana’s small businesses provide good paying jobs to folks throughout our state and support local economic growth. I’m thankful to my colleagues for advancing this bill to improve support for job creators and I look forward to full Senate consideration,” said Kennedy. 

Background:

A recent Government Accountability Office report exposed jaw-dropping incompetence by the Biden SBA in pursuing fraudsters that stole more than $200 billion in pandemic relief designated for small businesses.

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