Small Business Innovation and Economic Security Act

Floor Speech

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Ms. HOULAHAN. Mr. Speaker, I thank Ranking Member Velazquez for yielding time.

Mr. Speaker, I rise today to celebrate a big win for small businesses and innovators in my district and across the country, as well.

For years, I proudly led the bipartisan RAMP for Innovators Act, a bill that gives our small businesses the tools they need to turn great ideas into market-ready products.

Today, I am thrilled that a significant portion of that work is included in the Small Business Innovation and Economic Security Act. Thanks to this bill, these very important provisions and improvements will soon be law.

Today's passage is a testament to what bipartisan and bicameral collaboration can achieve. It was a real disservice that the SBIR and STTR programs lapsed last year, which are the lifeblood of innovation on Main Street. They help both entrepreneurs and small businesses in places like Pennsylvania's Sixth District turn ideas into real products and businesses.

Thanks to this legislation, the programs are back and stronger than before.

Importantly, the bill incorporates key provisions for my RAMP for Innovators Act that give small businesses more control over their commercialization efforts. Under this legislation, companies can now use technical and business assistance funds not just to utilize outside experts but to also hire new staff, expand existing teams, and to train their employees to move their technologies to market.

Agencies will continue to provide oversight to ensure that funds are used effectively, but awardees now have a lot more flexibility to direct these resources to where they are most needed.

Additionally, this bill ensures that SBIR and STTR recipients can participate in the Innovation-Corps, or I-Corps, programs, which provide key trainings that help turn research into market-ready products. Under the provisions in my RAMP for Innovators Act, businesses can use TABA funds and other funding sources for participation in I-Corps, giving small businesses the flexibility they need to fully take advantage of these opportunities.

Having scaled a lot of businesses in southeastern Pennsylvania, I know how critical these resources are. They can literally mean the difference between a promising and even life-changing idea sitting on a shelf and a product that creates jobs and strengthens our economy.

I thank Representative Balderson for his continued participation and bipartisanship on this, the RAMP for Innovators Act, and to Senator Coons for championing these provisions in the Senate. Together, we are ensuring that small businesses have the support that they need to grow, hire, and bring bold ideas to market.

This is a really proud moment for Main Street, for innovators, and for my community. I urge all of my colleagues to vote ``yes'' for the Small Business Innovation and Economic Security Act.

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