Small Business Innovation and Economic Security Act

Floor Speech

BREAK IN TRANSCRIPT

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

S. 3971 reauthorizes the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs to unleash American innovation. SBIR and STTR provide federal Research & Development (R&D) funding to small technology companies. These programs are collectively called ``America's Seed Fund'' because they help startups develop their ideas and grow their businesses, bringing them to market.

This bill provides these companies with vital research and development grants from federal science agencies that support their work while also having robust research security provisions in place to safeguard from malicious actors.

I am happy that the Small Business Committee has successfully coordinated with the Science, Space, and Technology Committee--both majority and minority--on this legislation and that we all support it. These past few months have left this vital program unauthorized, leading to devastating real-world impacts for small businesses that desperately need funding and stability to thrive.

The entrepreneurial spirit is a quintessentially American tradition, and it has helped make our Nation great. Supporting small businesses is as American as it gets. It also keeps our economy competitive, which is critical for the United States to stay ahead of foreign adversaries like the Chinese Communist Party that seek to dominate the global marketplace.

This bill will empower small businesses, support this age of American innovation, and help entrepreneurs continue developing the ideas of tomorrow. I urge all of my colleagues to support S. 3971.

BREAK IN TRANSCRIPT

Source