Floor Statements

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H.R. 3462, the SBA Cyber Awareness Act.

Mr. Speaker, the importance of being cyber ready cannot be overstated. This goes for individuals, businesses, and even our Federal Government.

H.R. 3462 takes important strides to ensure the agency that was created to assist and aid the Nation's smallest firms, the Small Business Administration, has the ability to access its own cybersecurity framework.

Additionally, H.R. 3462 requires the SBA to report to Congress on its cyber infrastructure.

Unfortunately, cyberattacks are too common in today's world. Vulnerabilities will be used and taken advantage of by criminals.

We must take steps now to enhance and protect our Federal Government. H.R. 3462 does just that.

I want to thank the gentleman from Colorado (Mr. Crow) and the gentlewoman from California (Mrs. Kim) for having the foresight to work on such an important measure. I also thank the chair for pushing forward this legislation. H.R. 3462 was favorably reported out of the Committee on Small Business in July.

Mr. Speaker, I urge my colleagues to pass the bill today on the House floor, and I reserve the balance of my time.

Mr. Speaker, I yield such time as she may consume to the gentlewoman from California (Mrs. Kim).

Mr. Speaker, I yield myself such time as I may consume for the purpose of closing.

Mr. Speaker, I believe now is the time to act to prepare our financial institutions for cyber intrusions. Requiring the SBA to assess its own cyber infrastructure is an important step to ensure the agency can continue to serve as a leader for our Nation's 31 million small businesses.

Congress should make certain that the Federal Government is cyber prepared on behalf of the Nation's small businesses, entrepreneurs, and start-ups.

Mr. Speaker, I encourage my colleagues to support H.R. 3462, and I yield back the balance of my time.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H.R. 4481, the Small Business 7(a) Loan Agent Transparency Act.

I want to congratulate you, Mr. Speaker. Not many people can pronounce my last name, Luetkemeyer, but you did a great job today. Thank you very much.

While small businesses across the Nation are bearing the burden of rising costs, supply chain issues, and labor shortages, they also continue to be challenged when accessing capital to build and grow their businesses.

This committee remains committed to examining issues surrounding access to capital.

The SBA's largest government guaranteed loan tool is the 7(a) loan program, which serves small businesses of all types throughout the Nation.

Over the years, the role of loan agents within this program has ebbed and flowed. However, along the way, the SBA has not had a firm grasp on how these middlemen operate in the program.

H.R. 4481 corrects this program by requiring more transparency within the program about loan agents who often connect small businesses to lenders and vice versa.

I commend the gentleman from Minnesota (Mr. Phillips) and the gentleman from Pennsylvania (Mr. Meuser) for working in tandem to bring this issue to the forefront, as well as Ms. Tenney. I also would like to thank the Chair for working on this issue as well.

H.R. 4481 will reinforce the integrity of the program and ensure that it continues to be a useful tool for small businesses moving forward.

H.R. 4481 passed out of committee via voice vote. I urge all Members to support this legislation, Mr. Speaker, and I reserve the balance of my time.

Mr. Speaker, I yield such time as he may consume to the gentleman from Pennsylvania (Mr. Meuser).

Mr. Speaker, I yield such time as she may consume to the gentlewoman from New York (Ms. Tenney).

Mr. Speaker, I yield myself the balance of my time to close.

Mr. Speaker, we have an oversight duty to ensure programs are operating effectively and efficiently. Congress must also ensure taxpayer dollars are protected and safeguarded against waste, fraud and abuse.

Loan agents within the 7(a) program require more transparency, and this bill delivers on this important topic.

I can assure you that as a result of IG reports, this is a necessary part of our process, and we must continue to provide the kind of oversight that is necessary. Loan agents can be very helpful, but there are always a few bad apples. We need this transparency to be able to protect the integrity of this program and taxpayer dollars.

Mr. Speaker, I urge my colleagues to support H.R. 4481, and I yield back the balance of my time.

Mr. Speaker, I yield myself such time as I may consume and rise in support of H.R. 4531, the 7(a) Loan Agent Oversight Act.

On October 15, 2021, the SBA's inspector general published a report titled ``Top Management and Performance Challenges Facing the Small Business Administration in Fiscal Year 2022.''

In this report, the inspector general listed increased risks introduced by loan agents as one of the top issues the agency faces. Specifically, the report outlines approximately $335 million in documented and confirmed loan agent fraud within the program. This is unacceptable, Mr. Speaker, and Members of Congress must have more visibility into this program.

H.R. 4531, the 7(a) Loan Agent Oversight Act, requires the SBA to perform a portfolio risk analysis on loans associated with agents. When this risk analysis is completed, Members will have more visibility into how loan agents interact with a government guaranteed loan program. American tax dollars must be protected, and H.R. 4531 makes important improvements to be able to do just that.

I thank the gentleman from Pennsylvania (Mr. Meuser) and the gentleman from Minnesota (Mr. Phillips) for tackling this legislation head on.

With my support and the Chair's support, H.R. 4531 was favorably reported out of our committee, and I encourage all Members to support this legislation.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I yield such time as he may consume to the gentleman from Pennsylvania (Mr. Meuser).

Mr. Speaker, I yield myself the balance of my time to close.

Continued and ongoing fraud within any government program is unacceptable and must be addressed immediately. H.R. 4531 is a step in the right direction and will provide crucial information for Members of Congress as well as committee members as they continue to exercise necessary oversight of programs directed at small businesses and entrepreneurs.

Mr. Speaker, I urge my colleagues to support H.R. 4531, and I yield back the balance of my time.

Mr. Speaker, I yield myself such time as I may consume, and I rise in support of H.R. 4515, the Small Business Development Center Cyber Training Act of 2021.

Small Business Development Centers, or SBDCs, perform numerous important roles for small businesses and aspiring entrepreneurs. They are also

on the front lines, assisting small business owners with business plans and questions regarding access to capital.

Unfortunately, cyberattacks are on the rise, and small businesses remain vulnerable. H.R. 4515 requires SBDCs to be better equipped and trained to assist small businesses with their cybersecurity needs.

More attention needs to be given to small businesses and how they deal with cyber intrusions. Empowering SBDCs is one way to do this.

I thank the gentleman from New York (Mr. Garbarino), the gentleman from Pennsylvania (Mr. Evans), the gentleman from Ohio (Mr. Chabot), and the gentlewoman from Pennsylvania (Ms. Houlahan) for their work on this bill. I also thank the chair for continuing to act on legislation dealing with cybersecurity, one of the most critical issues facing us today.

Overall, these are crucial and important issues facing small businesses, and I am grateful for the gentlewoman's partnership on this bill.

Mr. Speaker, I encourage my colleagues to support H.R. 4515, and I reserve the balance of my time.

Mr. Speaker, I yield such time as he may consume to the gentleman from New York (Mr. Garbarino).

Mr. Speaker, I yield myself the balance of my time.

Mr. Speaker, we must take a serious look at how businesses are impacted by cyberattacks. Small businesses operate on thin margins. Thus, a cyber intrusion could be a lethal blow to them.

SBDCs must be ready to assist all small businesses where cyber questions arise. This is a smart and commonsense bill that should move forward.

I urge my colleagues to support H.R. 4515 and all the small business bills that have been before us today. Each bill tackles important issues facing American job creators.

Mr. Speaker, I yield back the balance of my time.

Madam Speaker, I ask unanimous consent that all Members have 5 legislative days to revise and extend their remarks and include any extraneous material on the subject of this Special Order.

Madam Speaker, I come to the floor this evening with a number of my Republican colleagues to speak about the small business economy.

Small business owners have been devastated by the COVID-19 pandemic as they are still reeling from the Democrat-induced State and local shutdowns and economic downturn. At a time when Main Street USA has been focused on recovering from the health and economic effects of the pandemic, they are facing multiple challenges created by the Biden administration and congressional Democrats.

Given our country's unprecedented labor shortage, skyrocketing inflation, and supply chain crisis, small businesses, entrepreneurs, and startups alike are forced to bear the brunt of the Democrats' failed economic policies. In the midst of this economic storm, small businesses should be given the tools to recover, but now they are also being threatened with major tax increases and more burdensome regulations.

Since President Biden took office, we have seen multiple Democratic proposals that include increasing taxes on small businesses. Make no mistake: Tax hikes, no matter their form and fashion, will negatively impact Main Street USA.

A survey by the Small Business and Entrepreneurship Council found a majority of small business owners believe new taxes will significantly hurt their ability to recover from the pandemic. Simply put, this is unacceptable.

While the Democrats' socialist scam reconciliation bill continues to change week after week, many of these proposals would slash the 20 percent small business deduction enacted by President Trump's Tax Cuts and Jobs Act of 2017. According to IRS data, millions of small business owners claimed the 20 percent deduction on qualified business income during the 2020 tax filing season. This provision created more than $66 billion in savings for small business owners in 2019. The Democrats want to do away with this.

Other reckless proposals will have nearly doubled the long-term capital gains rate from 23.8 percent to the top ordinary capital gains rate of 39.6 percent. According to U.S. Census Bureau data, two-thirds of small business owners plan to sell their business, and eliminating the current long-term rate would have enormous implications for any sale of a small business.

Knowing this information, I must ask: Why would the Democrats propose such drastic tax rate increases knowing they will crush American businesses?

As the days evolve, we will see what the Democrats will concoct next to pay for their outrageous spending, but Republicans refuse to stand by and allow them to pay for it at the expense of small business prosperity. We will continue to monitor very closely.

At a time when small businesses are trying to get back on their feet, they are also absorbing the impact of other damage. As ``Help Wanted'' signs become a common sight on the doors of small businesses across the country and store shelves become increasingly bare, it remains clear that the Biden administration's labor crisis is a key contributing factor to the rising costs of goods and empty shelves.

For months, the Biden administration has paid Americans to stay home through extended Federal benefits instead of incentivizing these individuals to return to work. Our country's labor shortages have hindered the ability to get cargo to shore, unpack these much-needed goods, and find truck drivers to transport the products throughout the Nation. U.S. employers across all industries are struggling to fill more than 10.4 million job openings to meet the rising consumer demand.

Madam Speaker, in October, NFIB reported that 51 percent of small business owners have unfilled job openings, a 48-year high for the third consecutive month. Sadly, the historical average is only 22 percent.

As small business owners are bearing the burden of these extreme challenges due to the Democrats' failed economic policies, they are also facing regulatory uncertainty. During the previous administration, we cut burdensome red tape for small firms. However, we are already seeing an increasing regulatory trend with the Biden administration, which will hinder small businesses while they are already down.

We know that regulatory burdens deflate small businesses, yet this administration continues to plow forward with new restrictions and mandates. From the latest climate rules to the overreaching vaccine mandate, small business owners should be given the opportunity to recover from the pandemic and service their customers, not deal with even more bureaucratic red tape from the Democrats.

Beyond these economic headwinds, American taxpayer dollars have been wasted and abused by Federal Government agencies throughout the pandemic. According to the Small Business Administration's inspector general, $78 billion in Economic Injury Disaster Loans have been fraudulent.

This program is a direct loan and grant program, as small businesses apply directly with the SBA for funding. Instead of developing serious oversight controls, congressional Democrats want to expand the Federal Government's ability to make additional direct loans through the SBA. This is dangerous and puts taxpayer dollars at extreme risk. These proposals are irresponsibly opening the door for enhanced fraud.

My Republican colleagues and I will continue to fight for lower taxes and deregulation on behalf of small businesses across the Nation while also safeguarding taxpayer dollars every step of the way. We must legislate responsibly, and we will. Americans must get back to work, and that can only happen when Democrats cease their war on Main Street.

Congressional Republicans refuse to stand by and allow the Democrats to force through this socialist scam reconciliation bill at the expense of small business prosperity.

I appreciate that a number of my Republican colleagues are here today to add to this conversation.

Madam Speaker, I yield to the gentleman from Texas (Mr. Williams), who is the vice ranking member of the Small Business Committee.

Madam Speaker, I thank the gentleman from Texas for his insights. Being a businessman himself, he understands full well the problems that they have, the concerns about the bill being proposed, and the impact of all the decisions that this administration has made so far.

The key to economic success is economic freedom. That is a keyword, and you are going to hear a theme of that this evening, Madam Speaker.

Next, I would like to introduce the gentleman from Kentucky (Mr. Barr),

the ranking member of the Financial Services Subcommittee on National Security, International Development and Monetary Policy. I look forward to his commentary and his insights. He is instrumental in a lot of the different things we do there, as well the former chairman of the Oversight Committee, if I am not mistaken.

Madam Speaker, I yield to the gentleman from Kentucky (Mr. Barr).

Madam Speaker, I thank the gentleman from Kentucky. As you can see and hear from him, his very insightful explanation of the bill and its provisions, its effects on small businesses and consumers, he gave a very, very thoughtful explanation of it, and we appreciate his insights and concerns.

There are lots of problems with the bill, and I appreciate Mr. Barr's comments.

Next, we have the gentleman from Louisiana, (Mr. Johnson). Mike is going to be with us here. He is vice-chairman of the Republican Conference. He is going to continue to explain some of the problems and pitfalls with this tax proposal that is an unwieldy and, frankly, harmful bill to our people, our consumers, and especially the small businesses in this country.

Madam Speaker, I yield to the gentleman from Louisiana (Mr. Johnson).

Madam Speaker, I would like to have a minor discussion with the gentleman here.

You made a couple of points here with regards to some of the discussions you had with regards to amnesty. Did one of the questions that you posed deal with the $450,000 payment that the President is proposing to all of the folks who come here illegally? Was that voted on or talked about at all in your discussion?

I yield to the gentleman from Louisiana.

So we could be giving a $450,000 payment to a MS-13 gang member; is what you are saying?

It doesn't seem to bother them that they are going to spend their own constituents' hard-earned tax dollars and give to a MS-13 gang member up to $450,000. Holy smokes. It blows you away.

Madam Speaker, I thank the gentleman for his insightful discussion and presentation. I am glad he pointed out that the socialist agenda of this administration is being rejected by the people of this country. Probably very, very likely, today, we are seeing the first reaction to that at the polling places. I also appreciate his talking about the increase in taxes, the negative effect to small businesses, and the regulations as well.

It is concerning that the comment he made is quite true, because at this point, we have seen no text and it changes on a daily basis. Yet, we are going to be asked to vote for that thing, perhaps before we even get to see what is in it. Seems like I have heard that somewhere before.

Anyway, let's move on. We are excited to have the gentleman from Pennsylvania (Mr. Meuser) next to give us his thoughts on the monstrosity of a bill here and the tax and spending actions of the administration. Mr. Meuser is the ranking member of the Small Business Subcommittee on Economic Growth, Tax and Capital Access. I thank him for being here this evening.

Madam Speaker, I yield to the gentleman from Pennsylvania (Mr. Meuser).

Madam Speaker, I thank the gentleman from Pennsylvania for his insightful remarks, and I appreciate him quantifying that this is a $420 billion hit to small businesses.

His comment about working harder and making less, we understand the pandemic caused a lot of dislocation, but we should be past that now. We should be helping businesses get back on their feet, not kicking their feet out from underneath them and adding to the uncertainty with additional rules and regulations.

I am excited now to have one of the newest members of our conference, Congresswoman Young Kim from California, who is the ranking member of the Small Business Subcommittee on Innovation, Entrepreneurship, and Workforce Development. She herself has been a small businesswoman in the past, and I look forward to her insightful remarks.

Madam Speaker, I yield to the gentlewoman from California (Mrs. Kim).

Madam Speaker, I thank the gentlewoman from California for her remarks, and we certainly appreciate her comments. She made a comment with regards to entrepreneurs. The small business folks are the entrepreneurs that make our country work. They are willing to take the risk and invest their own dollars, work long hours, and wind up being paid last, if at all sometimes.

I am glad she pointed out the lesson that we should be learning from California. A lot of times we look to California to see what the latest trends are. Right now, the latest trend is whoever is the last one out, turn the lights off. So I think we need to be looking at that and listening to those citizens, those businesspeople, who are leaving the State due to the high cost of taxes and regulations, just to be able to work there.

I am excited now to have another new member to our conference, who also is a member of the Small Business Committee, former State senator from the State of Wisconsin, Congressman Scott Fitzgerald.

Madam Speaker, I yield to the gentleman from Wisconsin (Mr. Fitzgerald).

I thank the gentleman for his comments and insightful remarks. I really appreciate him pointing out something, that this is the biggest tax increase in 50 years on small businesses. Let me say that again, the biggest tax increase in 50 years on small businesses.

In our committee recently we had the Small Business Administration Director, and one of the members from our committee asked the Director if she had been advising the administration on the tax policy in this bill and had done any studies as to the effect of those taxes on small businesses? We couldn't get a response.

She said, well, it really wasn't something she would be concerned about. Here is the Director of the Small Business Administration, whose prime duty is to work this agency for the benefit of small businesses in this country, and she was not going to think that this bill was important enough with the taxes and other extraneous things in there to even think about working on it and advising the administration about what could happen to small businesses?

There is a huge disconnect within this administration about what is going on in the real world and the utopian view of how they would like to have things be in the future under a socialist regime. This is nuts.

How in the world can you put a bill together like this that has this kind of effect on small business and not even study the effect of it? Absolutely breathtaking.

I yield to the gentleman from New Jersey (Mr. Van Drew), a small business person himself. He has experienced some of these hardships and problems, and he is going to tell us all about what his views are on this bill and how it can impact his business.

I certainly thank the gentleman from New Jersey for his remarks and reminding us that inflation is a tax as well. I think we need to remember that when we go to the gas pump. Last January I was able to get it for $1.89. On Monday I filled up my tank and it was $3.19. I got nothing more. I got the same amount of gas. The only difference is it was $1 and some higher. Inflation is a tax.

I appreciate him reminding us of the work ethic and values that our small business folks display and have to work

with every day to make their business work and the effects of mandates. I appreciate his comments.

Madam Speaker, I yield to the gentleman from Pennsylvania (Mr. Keller), who has a great personal story himself. I look forward to his remarks and his concerns about this monstrosity of a bill, socialist reconciliation bill.

I thank the gentleman for his insightful remarks. I really appreciate his comments. Pouring more money into the economy just adds to inflation. If we go back and look at the comments by the CBO when they scored the bill back in February, a $1.9 trillion bill, they said we didn't need it, that we would have 5 percent growth by the end of this year if we did nothing. And yet we spent $1.9 trillion and look at what has happened. We have runaway inflation going on right now, and we want more money to be spent again. This is nuts.

Government control. I appreciate his comments with regard to that. This is about government control. It is about controlling the economy and controlling individuals and controlling businesses. Again, it is about the belief that the other side seems to believe in the goodness and greatness of government, and we believe in the goodness and greatness of our people. I certainly appreciate his comments with regard to that and reminding us of those salient facts.

Madam Speaker, how much time is remaining?

Thank you very much. I shouldn't be too long. We have rolled this around quite a bit, and we have hit on the high points, but I do want to make a few closing remarks.

The American people deserve better than this. We are here to be able to help them, not to harm them. We are here to be able to lift them up and empower them instead of take power away. We are here to give them hope, not destroy hope. You do all these things on the positive side, I think, by empowering them and letting them be who they are rather than take that away from them and try from the government side to control what they are doing and who they want to be.

I have the opportunity with one of the positions that I hold here in Congress to meet with a lot of foreign finance ministers from around the world, and it is always interesting to talk to them because they are very jealous of what we have. We have something most countries in the world don't have, and that is economic freedom. The freedom to be able to go somewhere tomorrow; if you want to change jobs, go change jobs. If you want to start a new business tomorrow, go start a new business. If you want to start another one next week, start another new business next week. Most places in the world you can't do that, and that is a huge difference. That economic freedom, that entrepreneurial spirit that we have in this country makes us different from everybody else.

This monstrosity of a socialist reconciliation bill is a dagger in the heart to the entrepreneurs and the small business people in this country who have built this country. The big businesses, where did they start from? They started as a small business. They didn't start as a big, major business to begin with. They started in somebody's garage or in a university research lab somewhere or as an idea that somebody scratches on the back of a napkin in a restaurant somewhere. These people, the entrepreneurs who are willing to put their ideas on the table, their money, and their beliefs and risk everything to make this work.

This bill that we are talking about this evening is a dagger in the heart to those people who are willing to take those kinds of risks and drive our country forward and provide the jobs.

As a reminder, when we unleashed the power of the people with the tax cut bill of 2017, we wound up before the pandemic of having 1.2 million more jobs in this country than we had people to fill them. The first time in history that we had those sorts of job openings for people to apply for.

The fundamentals are still there if we don't destroy them, and that is the key. This bill will destroy those fundamentals. Add to that the uncertainty that a lot of our good friends and small businesses that drive this country are concerned about, the taxes will be the burden that will have to be overcome, and probably will drive a lot of them out of business.

They are very concerned about the direction of this administration. They seem to believe, again, in the goodness and greatness of government. Our side believes in the goodness and greatness of our people, and we want to empower them and continue to protect them and work with them.

Madam Speaker, thank you for the opportunity to be here this evening and for allowing us to have this Special Order. I yield back the balance of my time.

Mr. Speaker, on August 26th, 13 American families experienced the worst day of their lives.

They received the knock on the door that every parent of a servicemember prays will never come.

For those families, the conversation that followed was the most devastating news a person can receive: their child has been killed.

One of the marines we lost that day was Lance Corporal Jared Schmitz from Wentzville in Missouri's Third Congressional District.

Lance Corporal Schmitz was just 20 years old when the military transferred him from Jordan to Afghanistan during the U.S. evacuation.

Shortly after arriving in Kabul, Jared died while achieving his lifelong goal of serving the American People in the United States Marine Corps.

Because of Jared's and his fellow servicemembers' sacrifice, thousands of Americans were able to return home safely.

They ensured that thousands of families did not get the heartbreaking news Jared's parents received early in the morning of August 27th.

Because our servicemembers displayed a bravery most of us are not capable of, countless kids saw their mom and dad again.

Brothers reunited with their sisters.

And terrified parents got to hug their children after days of worrying that day would never come.

Nothing we can say on this floor will erase the pain far too many military families live with every day.

No amount of gratitude nor a Congressional Gold Medal will change the fact that the Schmitz family and 12 others will forever have an unfillable hole in their hearts.

But what we can do with this bill is remind them of what they hopefully already know: their loved-one represents the best of us.

They are the American heroes who allow 300 million people to live freely in the greatest country in the history of the world.

Their loss is absolutely heartbreaking, but their sacrifice and their lives will never be forgotten.

They will be remembered as the heroes they are and will live in the hearts of millions of grateful Americans forever.

Mr. Speaker, I rise in support of my bill, the Guidance Clarity Act.

The Federal Government produces hundreds of rules, regulations, and laws every year. Without the help of legal teams and consultants, individuals and small businesses cannot possibly keep up with everything that is coming out of Washington.

The purpose of guidance is to assist those Americans in understanding rules and regulations and give them suggestions on how to adhere to them.

Guidance is not approved by Congress, nor does it go through the Federal rulemaking process which allows for public input and legal scrutiny of agency actions. Guidance is not backed up by law, nor is it enforceable by law enforcement. It is, quite simply, a suggestion.

Unfortunately, in past years, many regulators have threatened punitive action against businesses for not following guidance. That is unacceptable, and quite frankly, it is illegal.

To be clear, I am not talking about businesses breaking the law or ignoring Federal regulations. Guidance documents are meant to clarify or to inform the public about policy topics and are not legally binding. Small businesses deserve clarity on what documents are legally binding and should not be punished for deviating from guidance documents.

Regulators have no legal authority to enforce guidance, and any attempt to do so is an egregious abuse of power.

On top of that, with thousands of guidance documents being produced, instead of achieving their intended goal--which is to provide clarity-- they are causing even more confusion.

With some regulators enforcing guidance while others do not, small businesses and entrepreneurs are driven deeper into the regulatory maze of the Federal Government.

My bill is a very simple fix to that confusion. The Guidance Clarity Act

ensures the first page of guidance documents includes the plain language statement declaring that guidance is not law, nor can it legally be enforced as law.

This small but critical statement clarifies for citizens and regulators on the ground that guidance is meant to be helpful; a suggestion that can be put in place or completely ignored. It will help regulators do their jobs more efficiently and small businesses, who lack the resources to employ teams of lawyers, continue to create jobs and grow the economy.

I hope my colleagues on both sides of the aisle will agree that American small businesses have enough to worry about. They are working hard to keep their employees paid and their customers happy. They don't have time to worry about keeping track of and abiding by agency suggestions that were never meant to be anything more than just that.

I thank Chairwoman Maloney, Ranking Member Comer, and the gentleman from Kansas (Mr. LaTurner) for their leadership in supporting the bill and bringing it to the floor.

Mr. Speaker, I encourage my colleagues to vote in favor of the Guidance Clarity Act.

Madam Speaker, I rise today to ask my colleagues to join me in honoring and celebrating Constitution week.

234 years ago, The United States Constitution was signed guaranteeing our freedoms and inalienable rights from government tyranny. Our most sacred document defines our nation's principles and fundamental values that are the cornerstone for the greatness this country has achieved.

In honoring the Framers of the Constitution, let us take a moment and reflect on the promise of our civil liberties and celebrate the Constitution as the bedrock of the freedoms that together we all enjoy and cherish as Americans.

Madam Speaker, please join me in celebrating freedom, liberty, and the United States Constitution.

Madam Speaker, I rise today to discuss S.J. Res. 15, House Democrats' attempt to limit the ability of our Nation's banks to serve consumers by overturning the true lender rule.

The true lender rule was finalized by the OCC in 2020, in an effort to clarify who was the true lender in national bank third-party relationships. By providing this clarity, these third-party entities were able to provide financial services in partnership with financial institutions with the protections of legal precedence.

Partnering with third parties like fintechs gives financial institutions the ability to increase access to credit, especially for low- and moderate-income consumers and small businesses.

Unfortunately, the bill before us is nothing more than a politically motivated attempt by Democrats to make it more expensive and difficult for banks to serve customers, and its passage will have long-term consequences.

According to the Congressional Review Act, if this legislation is passed, the OCC will not have the ability to issue a similar rule down the road. This will leave bank-fintech partnerships in limbo with a great deal of uncertainty regarding the loans they make and who is the true lender in the relationship.

Democrats are constantly putting their disdain for America's banks ahead of the needs of their constituents, and this bill is another prime example of this unfortunate practice.

I firmly oppose this bill and its prevention of widespread financial inclusion, especially for low- and moderate-income consumers.

Madam Speaker, I rise today to ask my colleagues to join me in congratulating Kiara Strayhorn for winning two state titles at the Class 5 Track and Field Championship.

Kiara earned a total of twenty-eight points out of the thirty points the Capital City Lady Cavaliers put on the board. Strayhorn should be commended for her hard work and dedication throughout this past year.

Madam Speaker, I ask you to join me in recognizing Kiara Strayhorn for a job well done.

Madam Speaker, I rise today to ask my colleagues to join me in congratulating Dijonay Dawson for winning three gold medals at the Class 5 Track and Field Championship.

Dijonay earned a total of nine points out of the eleven the Jefferson City Lady Jays put on the board. Out of her three gold medals, two medals were in individual races and one was in a relay. Dijonay should be commended for her hard work and dedication throughout this past year.

Madam Speaker, I ask you to join me in recognizing Dijonay Dawson for a job well done.

Madam Speaker, I rise today to congratulate the St. Elizabeth High School Softball & Baseball Programs on being inducted into the Missouri Sports Hall of Fame.

St. Elizabeth High School fielded its first softball and baseball programs in 1951. Since 1991, they have combined to reach 15 Final

Fours, including winning seven state championships, and each has had 38 All-State selections. St. Elizabeth's softball program has won four state titles (1992, 1994, 2002, 2011), finished as a runner-up in 1993 and 1997, and was fourth in 1991. St. Elizabeth's baseball program has captured three state championships (1995, 1997, 2019) and was runner-up in 2018. The Hornets also placed third in 1996 while their 1984, 2010 and 2011 teams each placed fourth in the state.

As a native of St. Elizabeth this honor is especially personal for me. I graduated from St. Elizabeth but more importantly, my wife Jackie and I have watched generations of kids grow into young adults and go on to become exceptional members of our community and communities around Missouri. Both of our daughters played on the softball team and our son played on the baseball team where they and their teammates learned invaluable life lessons about hard work, commitment, and teamwork.

Thanks to the coaches, teachers, and administrators we have been lucky enough to have over the years, our little town has experienced success well beyond the ball field. This honor is certainly a testament to all of the kids who worked so hard to achieve athletic success but also to the parents and a community that supports one another and always prioritized our future generations.

Madam Speaker, please join me in congratulating the St. Elizabeth High School Softball and Baseball Programs on multiple extraordinary seasons and their much-deserved Hall of Fame induction.

Madam Speaker, I was unable to be present for a recorded vote on April 15, 2021 during a period of time for H.R. 1502, the Microloan Improvement Act. Had I been present, I would have voted YEA on Roll Call No. 114.

Madam Speaker, I yield myself such time as I may consume, and I rise in support of H.R. 1502, the Microloan Improvement Act of 2021.

Before I begin, I would like to thank the chairwoman for working in a bipartisan manner on behalf of our Nation's small businesses.

The bills before us today were developed in the 116th Congress and have been updated and reintroduced in this Congress. They focus on the Small Business Administration's existing government guaranteed loan programs. These programs are important resources and tools for the Nation's smallest businesses as they seek out financing.

Now, more than ever, these programs need to be ready for small businesses as they begin and continue to recover from the COVID-19 pandemic. As ranking member of the Committee on Small Business, I want to make sure we focus, or continue to focus on these programs that assist the Nation's small businesses, entrepreneurs, and start-ups.

The first bill is the Microloan Improvement Act. This legislation enhances and expands SBA's microloan program which provides loans of $50,000 or less. This program, which is delivered to small businesses through a partnership with microloan intermediaries, concentrates on low-dollar loans and technical assistance.

When a small business is starting out, counseling and capital assistance are true drivers of continued and prolonged success. H.R. 1502 further enhances the program for micro-borrowers by expanding the repayment terms of the program and providing additional tools in their toolbox.

Additionally, the bill removes the burdensome 1/55th rule that delays dollars from flowing to microloan intermediaries within the first two fiscal quarters of the year and replaces it with an allocation mechanism that will provide more equitable access to all States across the Nation.

I would like to thank Mr. Kim, Mr. Garbarino, Ms. Newman, and Mr. Burchett for concentrating their efforts on this legislation.

Madam Speaker, I urge my colleagues to support H.R. 1502, and I reserve the balance of my time.

Madam Speaker, I yield such time as he may consume to the gentleman from Tennessee (Mr. Burchett), who has been a leader in small business issues.

Madam Speaker, I yield myself the balance of my time.

Madam Speaker, 2020 was a difficult year for small businesses. The COVID-19 pandemic hit small businesses hard. This is especially true for small businesses that were just starting out.

As our country continues to recover, the SBA's programs and resources must be ready to assist the Nation's job creators along the way.

The microloan program is a key tool for many small business owners. The reforms in H.R. 1502 are commonsense improvements that will continue to provide assistance and resources to America's Main Street businesses.

Madam Speaker, I urge and recommend my colleagues to support H.R. 1502, and I yield back the balance of my time.

Madam Speaker, I yield myself such time as I may consume.

Madam Speaker, I rise in support of H.R. 1487, the Microloan Transparency and Accountability Act of 2021.

I thank the chair for moving these bills quickly to the House floor. I also want to commend the gentleman from Tennessee (Mr. Burchett), the gentleman from Wisconsin (Mr. Fitzgerald), the gentleman from New Jersey (Mr. Kim), and the gentlewoman from Illinois (Ms. Newman) for working diligently and in a bipartisan fashion on behalf of America's small businesses.

It is important to note that once Congress creates a Federal Government program, tool, or resource, the work is not done. Members of Congress must examine and determine the effectiveness and efficiency of the programs in practice to ensure that they are meeting congressional intent.

H.R. 1487 does just this for the microloan program, which delivers capital assistance and counseling to our Nation's smallest businesses. Oftentimes, businesses that are just starting out and taking their first steps as a company are participants in the microloan program.

On an annual basis, the Small Business Administration will be required to report to Congress on the microloan program's default rates, an analysis of credit requirements, the extent and reach of the program in rural areas, and so on.

H.R. 1487 will also increase transparency and provide Congress with tools to ensure it is working on behalf of small businesses across the Nation.

I urge my colleagues to support this commonsense and straightforward legislation, and I reserve the balance of my time.

Madam Speaker, I yield as much time as he may consume to the gentleman from Tennessee (Mr. Burchett), a distinguished gentleman who has worked hard on a lot of small business issues.

Madam Speaker, I yield as much time as he may consume to the gentleman from Wisconsin (Mr. Fitzgerald), a huge supporter of small businesses and all their issues.

Madam Speaker, I yield myself the balance of my time.

The microloan program, which delivers capital assistance to the Nation's smallest businesses, is an important lending tool at the SBA. H.R. 1487, the Microloan Transparency and Accountability Act of 2021, will deliver comprehensive data and information on the effectiveness of the program.

I applaud all of the Members working on this important legislation in an effort to shine more light on how well the program is working.

From my State of Missouri to both of the Nation's coasts, accessing capital remains a top challenge facing all small businesses. Tools and resources like the microloan program can make a huge difference to small business owners in the early stages of their businesses. We must ensure these programs and tools are operating at a high level and delivering on the goals that Congress set for them. That is why this bill is so important.

I urge my colleagues to support H.R. 1487, and I yield back the balance of my time.