WASHINGTON, D.C. – Today, The U.S. House of Representatives passed two small business bills favorably out of the chamber.

H.R. 4666, To require the Inspector General of the Small Business Administration to submit a quarterly report on fraud relating to certain COVID-19 loans – sponsored by Reps. Bean (FL-04), Mfume (MD-07), LaLota (NY-01), and Phillips (MN-03)

·         This bill requires the SBA Office of Inspector General (SBA OIG) to keep Congress up to date regarding its investigation into fraudulent COVID-19 loans.

H.R. 4667, the RECLAIM Taxpayer Funds Act – sponsored by Reps. Salazar (FL-27), McGarvey (KY-03), and LaLota (NY-01).

·         This bill requires the Small Business Administration (SBA) to post guidance to lenders on how to return fraudulent Paycheck Protection Program loans, as well as requiring the SBA to work with the Department of Treasury to see that these funds are returned to the taxpayers.

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