Small Business Technological Advancement Act

Floor Speech

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Mr. ALFORD. Mr. Speaker, I thank Chairman Williams for his stalwart leadership on this committee for bills that we are very passionate about for Main Street America. I thank my good friend Representative Olszewski for his support of this bill, as well.

I rise today in support of passing the Small Business Technological Advancement Act through the House.

Small businesses are the backbone of America. They are the backbone of our economy. They create jobs. They strengthen communities, and they drive innovation across our great country.

But in today's economy, Mr. Speaker, no small business can compete effectively without access to modern technology.

Cloud-based accounting systems, payroll platforms, cybersecurity tools, inventory management software, and emerging artificial intelligence applications are not optional any longer if you are going to succeed in small business. They are essential for operating and growing a business.

Yet, under the SBA's 7(a) loan program, there has been unnecessary uncertainty about whether these investments qualify as eligible business expenses.

That confusion has slowed access to capital and really made it tougher for our entrepreneurs to operate and to modernize.

This bill resolves that uncertainty. It ensures that those loans can be used for technology small businesses rely on today, including software, cloud computing services, and other digital tools that improve efficiency and competitiveness.

Mr. Speaker, I don't know about you, but I am into commonsense solutions for America, and this is one of those. This is a simple, commonsense fix. It doesn't create any new programs. It doesn't expand the scope of Federal lending. It simply provides clarity so that lenders and small business owners can move forward with confidence.

If we want Main Street to compete in a modern digital economy, our laws must reflect that reality, and that is why I urge my colleagues to vote ``yes'' for the Small Business Technological Advancement Act.

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