Small Business Innovation and Economic Security Act

Floor Speech

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Ms. LOFGREN. Mr. Speaker, I rise today in strong support of S. 3971, a reauthorization of the SBIR and STTR Programs.

For more than 40 years, and Small Business Innovation Research Program (SBIR), and later its companion program the Small Business Technology Transfer Program (STTR), have been contributing to U.S. leadership in technological innovation through support for small business research and development.

I have had a front-row seat to the explosive growth of entrepreneurship in Silicon Valley over my lifetime. I understand well the importance of innovative small businesses to our local economy and to the U.S. economy. I also understand the challenges these businesses face accessing capital. The SBIR program has long been called ``America's Seed Fund'' because they invest in small businesses at the higher-risk early stages before private capital is willing to invest. I also recognize that every agency has a different mission, and tailors their SBIR program accordingly. While that diversity in missions was an undercurrent in the negotiations, in the end we arrived at a good compromise that continues to support competition and innovation while giving the agencies necessary flexibility.

Last fall, as these programs faced imminent closure, the House sent the Senate a one-year, simple extension to keep the programs open to small businesses as the parties continued to negotiate. Unfortunately, there was not unanimity in the Senate to keep supporting small businesses across the country as we continued to negotiate some policy changes, The 6-month halt in the program has had real consequences for businesses and their employees, for innovation, and even for clinical trials and their patients. All of that was avoidable.

Fortunately, we are here today with a very good bill that provides new forms of support and resources for innovative small businesses, increases access and competition, and strengthens guardrails. I am especially pleased that the bill authorizes the programs through fiscal year 2031. Small businesses need certainty that the funding will be available, and agencies need certainty to manage the program efficiently.

I thank Small Business Committee Chairman Williams and Ranking Member Velazquez and Science Committee Chairman Babin, for their partnership in getting this done. I thank all of the committee staff for their hard work and patience through these months of negotiations. And I thank our partners in the Senate for continuing to work with us to find a path forward. I strongly urge all of my colleagues to support S. 3971 without delay.

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