Small Business Innovation and Economic Security Act

Floor Speech

Mr. Speaker, I rise today in support of S. 3971, the Small Business Innovation and Economic Security Act.

Mr. Speaker, the Small Business Innovation Research and Small Business Technology Transfer, SBIR and STTR, programs saw their reauthorizations lapse last October. As a result, nearly $6 billion in funding for small, innovative companies was frozen.

These programs are overwhelmingly successful, boasting a demonstrated return across over 40 years of operation, resulting in groundbreaking technologies that have revolutionized medicine, telecommunications, and military capabilities. Unfortunately, negotiations started too late and disagreements were too great to reach a deal before the deadline.

I am proud to say that, after months of uncertainty, we are finally turning the lights back on. The product before us today is the result of that monthslong deliberation while the program was lapsed. Thanks to the hard work of everyone involved, this legislation is something we can all be proud of.

Ideas from our majority like strategic breakthrough funding will help attract both private capital and government buy-in to rapidly scale promising technologies.

At the same time, ideas from myself and Senator Markey serve to strengthen our program's Phase III by investing in contract officer training and ensuring the PCRs advocate for small firms with successful products in the government. Together, these provisions mark a cohesive effort at bridging the valley of death for small, innovative companies.

Longstanding bipartisan priorities such as strengthening the program's data collection system, as well as making improvements to technical and business assistance and the Innovative Corps program, have finally made it across the finish line.

In addition, my colleagues on the Science, Space, and Technology Committee made real improvements to the foreign due diligence program, protecting small firms from espionage by our adversaries.

Over and above all, after a period of tremendous uncertainty, a reauthorization period of longer than 5 years will give small businesses and agencies the certainty they need for long-term planning.

The lapse in authorization over the past 5 months has been excruciating and unprecedented for small firms and labs who are at the cutting edge of technology. It has also been painful for families who are waiting for a cure for diseases that afflict their loved ones, only to see the companies working on those cures lose funding.

This lapse was avoidable, and the costs were real. We must be active in efforts to ensure it never happens again.

I am grateful for the work of my colleagues and our staff for bringing this agreement together in the spirit of compromise. That is how this program has always worked and must continue to work.

Ms. VAN DUYNE. Mr. Speaker, we must pass S. 3971 to ensure that Federal investment yields results for our country.

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Ms. VELAZQUEZ. Houlahan).

Mr. Speaker, I once again thank my colleagues in the Senate for their hard work in bringing this together, as well as our House partnership of myself, Chairman Williams, Chairman Babin, and Ranking Member Lofgren for working in a bipartisan way to reauthorize this program.

The time for delay is over. I urge all of my colleagues to vote ``yes'' and get this bill to the President as soon as possible.

Ms. VAN DUYNE. Mr. Speaker, I urge my colleagues to vote in favor of S. 3971 to support small businesses across the country in advancing technology and innovation. It is time for small businesses to access SBIR and STTR programs again after 5 long months.

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