Connect with us

Hi, what are you looking for?

Florida News

Marco Rubio Brings Back Bills to Help Small Businesses

U.S. Sen. Marco Rubio, R-Fla., has reintroduced four bills “aimed at better supporting small businesses by expanding underserved communities’ access to SBA loans, aiding small businesses in protecting themselves from disasters, and protecting U.S. Small Business Administration (SBA) programs from foreign abuse.”

Rubio weighed in on why he brought back the four bills.

“Our small businesses are the backbone of our communities and America’s strategic competitive advantage. The SBA is an important resource for them, and we must ensure that it provides the best possible assistance. By improving the assistance provided by the SBA, we can help small businesses thrive, create jobs, and contribute to our nation’s economic competitiveness,” said Rubio.

Rubio brought back the “Fair Access to Small Business Lending Act” which he first introduced in April 2021. The bill “would encourage small business growth in underserved communities by creating new pathways to obtain access to capital under the SBA’s 7(a) loan program.”

The senator also reintroduced a proposal to “reauthorize the SBA Pre-Disaster Mitigation Pilot Program to allow small businesses to take out low-interest loans for the purpose of proactively implementing mitigation measures to protect their property from future disaster-related damage” which he has been pushing since September 2020. The bill has the backing of five co-sponsors including U.S. Sens. Susan Collins, R-Maine, and Benjamin Cardin, D-Mary.

Rubio also brought back the “Small Business Credit Protection Act” which he first introduced at the end of 2018. The bill “would require credit bureaus to inform small businesses of a nonpublic personal data breach within 30 days” and “would also prohibit credit bureaus from charging small businesses for a credit report within the 180 days following a breach.” U.S. Sen. Raphael Warnock, D-Ga., is co-sponsoring the proposal.

The Florida Republican also reintroduced the “Preventing SBA Assistance from Going to China Act” which he has been championing for almost six years. The bill “would block all assistance offered by the SBA from going to any small business headquartered in the People’s Republic of China (PRC) or that has at least 25 percent of its voting stock in the hands of PRC investors.”

The bills were all sent to the U.S. Senate Small Business and Entrepreneurship Committee.

Author

  • Kevin Derby

    Originally from Jacksonville, Kevin Derby is a contributing writer for Florida Daily and covers politics across Florida.

    View all posts

Archives

Related Articles

Florida Government & Politics

Florida Governor Ron DeSantis has appointed James Uthmeier, his former chief of staff, as the new attorney general. Uthmeier, 37, was sworn in during...

Political News

With bipartisan support, Florida Senator Rick Scott (R) co-introduced a bill with Sen. Maggie Hassan, (D – NH) to reduce America’s reliance on China...

Political News

UPDATE: Ashley Moody was officially sworn-in as a US Senator, joining fellow Florida Republican Senator Rick Scott. Earlier today, Florida Governor Ron DeSantis announced...

Political News

Marco Rubio is being interviewed today at a Senate Confirmation Hearing for his nomination as US Secretary of State. Rubio’s tenure in the Senate...

Advertisement
Florida Daily
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

HOW WE COLLECT E-MAIL INFORMATION:

If you sign up to subscribe to Florida Daily’s e-mail newsletter, you will provide us your e-mail address and name, voluntarily, and we will never obtain any of your contact information that you don’t voluntarily provide.

HOW WE USE AN E-MAIL ADDRESS IF YOU VOLUNTARILY PROVIDE IT TO US:

If you voluntarily provide us with your name and email address, we will use it to send you one email update per weekday. Your email address will not be given to any third parties.

YOUR CONTROLS:

You will have the option to unsubscribe to our E-mail update at anytime by clicking an unsubscribe link that will be provided in each E-Mail we send.