U.S. Sen. Marco Rubio (R-FL) introduced this week five bills designed to expand economic opportunities for small businesses.
Among the five bills are the Preventing SBA Assistance from Going to China Act of 2019, which is designed to protect small businesses from Chinese interference. It would do this by preventing loans and guarantees — money intended to stimulate the growth of American businesses — from going in the pockets of Chinese-owned firms.
Another of Rubio’s bills is the Small Business Credit Protection Act, which would provide notification requirements and free credit reports to small businesses in the wake of a data breach, such as the Equifax breach in 2017.
Further, the Small Business Relief from Disease Induced Economic Hardship Act would make loans available to small businesses that suffer economic injury from disease-induced travel alerts or travel warnings issued by the federal government.
Rubio’s Hearing Small Business Act would expand small businesses’ role in the regulatory process and require the government to consider feedback from small businesses in forming new regulations.
Finally, the Advocacy Empowerment Act would ensure authority for SBA’s Office of Advocacy as it works to enact government-wide regulatory reform.
“America’s small businesses represent economic dynamism and a sense of community that is often missing from American life. Amidst rapid technological advances, shifting global economic trends, and rising foreign adversaries, we must fight to protect our small businesses,” Rubio, chairman of the Senate Committee on Small Business and Entrepreneurship, said. “These five bills are aimed at encouraging American entrepreneurs to innovate, thrive, and grow so that we can keep our economy competitive on the global stage.”