The U.S. House of Representatives has passed five bipartisan bills focused on supporting small businesses, according to a statement from the House Small Business Committee. The legislation was approved under suspension and aims to address issues such as regulatory barriers, access to capital, technology adoption, and oversight.
Chairman Roger Williams stated, “Today’s votes reflect House Republicans’ strong commitment to put Main Street first. These bills cut through red tape, expand opportunity for underserved communities, strengthen accountability, and help small businesses adopt emerging technologies. I’m proud of the Committee’s work to deliver practical solutions that allow entrepreneurs to start, grow, and compete.”
The five bills include:
- H.R. 3496, Northern Mariana Islands Small Business Access Act: Introduced by Rep. King-Hinds (Del-CNMI), this bill would make the Northern Mariana Islands eligible for the Small Business Administration (SBA) Microloan Program. This program provides funds through intermediary lenders to support small business startups and expansions.
- H.R. 5763, Main Street Parity Act: Introduced by Chairman Williams (TX-25), this bill seeks parity across industries in the SBA 504 loan program by removing the five percent equity requirement for limited or single-purpose properties.
- H.R. 5764, AI for Main Street Act: Introduced by Rep. Alford (MO-04), this bill mandates that SBA-funded Small Business Development Centers offer counseling and training on integrating Artificial Intelligence into business operations.
- H.R. 5784, Artificial Intelligence Wisdom for Innovative Small Enterprises (AI-WISE) Act: Introduced by Rep. Scholten (MI-03), this bill requires the SBA to provide accessible educational resources about AI for small businesses.
- H.R. 5788, 504 Program Risk Oversight Act: Introduced by Rep. Tran (CA-45), this bill directs the SBA to conduct annual risk assessments of its 504 loan portfolio and report findings to Congress.
