Covid Fraud Transparency Act of 2026

Floor Speech

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Mr. WILLIAMS of Texas. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 826) to require the Inspector General of the Small Business Administration to submit a quarterly report on fraud relating to certain COVID-19 loans, as amended.

The Clerk read the title of the bill.

The text of the bill is as follows: H.R. 826

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.

This Act may be cited as the ``COVID Fraud Transparency Act of 2026''. SEC. 2. REPORT ON FRAUD RELATING TO CERTAIN COVID-19 LOANS.

(a) In General.--Not later than 60 days after the date of the enactment of this Act, and every 3 months thereafter, the Inspector General of the Small Business Administration shall submit to the Committee on Small Business of the House of Representatives and the Committee on Small Business and Entrepreneurship of the Senate a report on the number of borrowers engaged in fraud with respect to a covered loan.

(b) Elements.--The report required under subsection (a) shall include, with respect to the period covered by such report--

(1) the number and total dollar amount of all covered loans made;

(2) the number of new cases of fraud and suspected fraud;

(3) the number of fraud cases resolved; and

(4) the types of fraud cases described in paragraphs (2) and (3).

(c) Covered Loan Defined.--In this section, the term ``covered loan'' means--

(1) a loan made under paragraph (36) or (37) of section 7(a) of the Small Business Act (15 U.S.C. 636(a)); or

(2) a loan made under section 7(b) of such Act (15 U.S.C. 636(b)) in response to COVID-19 during the covered period (as defined in section 1110(a) of the CARES Act (15 U.S.C. 9009)).

(d) Termination.--This Act and the requirements of this Act shall terminate on the date that is two years after the date of the enactment of this Act. SEC. 3. COMPLIANCE WITH CUTGO.

No such funds are authorized to be appropriated to carry out this Act.

Mr. Speaker, I rise today in strong support of my bill, H.R. 826, the COVID Fraud Transparency Act of 2026.

Earlier this year, I introduced this bill alongside my good friends the gentleman from New York (Mr. Latimer), the gentleman from Florida (Mr. Bean), and the gentleman from Maryland (Mr. Mfume).

During the COVID-19 pandemic, we moved quickly to provide relief to families, workers, and small businesses facing unprecedented hardship. When the government acts at that scale and speed, we also have the responsibility to ensure that taxpayer dollars are spent as intended, especially for honest, hardworking Americans. Unfortunately, we fell short in addressing that challenge.

The SBA Office of Inspector General estimates that roughly $200 billion in potentially fraudulent relief funds were disbursed through COVID-19 relief programs. Over 5 years after the pandemic began, the work of accountability is not finished. The American people deserve to know how the fraud occurred and what lessons can be learned to better protect public resources in the future.

On March 16, President Trump announced the White House task force to eliminate fraud, to strengthen interagency coordination, and more to directly confront waste, fraud, and abuse. Since its formation, the task force has helped coordinate interagency efforts to identify improper payments, improve oversight, and advise in investigations into COVID-19-era-related fraud. That is what it means to be accountable to the American people.

By improving reporting requirements and enhancing oversight, we can gain a clearer understanding of the schemes of these bad actors who exploited these relief programs. More importantly, we will be able to identify the weaknesses that made them possible.

Mr. Speaker, I urge my colleagues to support H.R. 826, and I reserve the balance of my time.

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Mr. WILLIAMS of Texas. Mr. Speaker, we must pass H.R. 826 to require the SBA inspector general to provide regular reports on fraud involving COVID-19 relief loans and improve oversight and transparency of pandemic-era programs.

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Mr. WILLIAMS of Texas. Mr. Speaker, I urge my colleagues to vote in favor of H.R. 826 because taxpayers deserve accountability, and Congress should have clear, ongoing information about efforts to combat COVID relief fraud.

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