Sba Fraud Enforcement Extension Act

Floor Speech

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Mr. CONAWAY. Mr. Speaker, I rise today in support of H.R. 4495, the SBA Fraud Enforcement Extension Act. I am the co-lead on this legislation, along with my friend, colleague, and fellow Air Force veteran, Representative Downing.

During the COVID-19 pandemic, more than 30 million small businesses were negatively impacted. The Federal Government took action to ensure that an unprecedented amount of money flowed into small businesses in the form of grants and loans in order to help them stay afloat.

Over the course of 18 months, the SBA administered four major programs, which delivered 22.1 million loans and $1.2 trillion in grants. Although these loans did provide much-needed relief to numerous small businesses throughout the United States, there were many who illegally obtained these loans.

The SBA issued a report titled: ``Protecting the Integrity of the Pandemic Relief Programs.'' It states that there are estimates that $36 billion of the $1.2 trillion in pandemic relief emergency funds were obtained illegally.

H.R. 4495 would extend the civil and criminal statute of limitations for violations of, or conspiracy to violate, fraud related to the Shuttered Venue Operators Grant and the Restaurant Revitalization Fund.

To ensure small businesses can receive the benefits they deserve, it is important that the SBA is properly funded and staffed. I am concerned that the cut in the SBA's workforce by 43 percent will impede the SBA's ability to recover the improper and illegally obtained payments.

Mr. Speaker, having said that, I urge all of my colleagues to support this very important legislation. I thank my colleague, Representative Downing, for allowing me to lead this important piece of legislation with him.

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