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House Passes Three Bipartisan Small Business Bills

WASHINGTON, D.C. – Today, The U.S. House of Representatives passed three small business bills: H.R. 399 (Passed by Voice), H.R. 400 (Passed by Vote of 411-13), and H.R. 449 (Passed by Voice). Below is a brief overview of each piece of legislation.

H.R. 399, Small Business Advocacy Improvements Act – sponsored by Reps. Luetkemeyer (MO-03), Carter (LA-02), and Mfume (MD-07).

  • This bill allows the Small Business Administration’s (SBA) Office of Advocacy to examine and speak on behalf of small businesses in international economic and trade matters.

H.R. 400, Investing in Main Street Act – sponsored by Reps. Chu (CA-28), Garbarino (NY-02), and James (MI-10).

  •  This bill amends the Small Business Investment Act of 1958 to increase the amount that may be invested in small business investment companies.

H.R. 449, Microloan Transparency and Accountability Act – sponsored by Reps. Burchett (TN-02), Kim (NJ-03), and Fitzgerald (WI-05).

  • This bill requires the SBA to report on certain metrics to determine the effectiveness of the Microloan Program and examine if there are any default risks that put taxpayer dollars at risk.