Finkenauer Small Business Bill Passes House as part of Defense Authorization, Expected to be Signed in to Law
WASHINGTON, DC – Today, the U.S. House of Representatives again passed Congresswoman Abby Finkenauer’s (IA-01) first bill, HR 246, which will help bring investment to small businesses in Iowa.
When originally passed on January 14, 2019 it was the first bill authored and passed by a freshman member of Congress, making her the youngest woman in history to pass a bill in Congress. Click here for a video of Finkenauer speaking in support of HR 246 on the House floor.
“I always remember why I came to Congress, which is to always stand up for the future of Iowa, so I’m happy that my first bill to help Iowa’s small businesses grow was again passed by the House and is on its way to becoming law,” Finkenauer said. “As Chairwoman of the Rural Development, Agriculture, Trade and Entrepreneurship Subcommittee, I’ve been focused on ways we can grow Iowa’s main streets and support our small businesses which are the backbone of our communities.”
To help put innovative small businesses on the map, Congress created the Small Business Innovative Research program (SBIR) and Small Business Technology Transfer (STTR) program. These initiatives provide capital and other support to allow small businesses to engage in federal research and development with the goal of commercialization.
The bill would help more small businesses access the SBIR and STTR programs, especially in rural communities. Specifically, the bill would require acquisition personnel to conduct outreach so more small firms can benefit from the SBIR and STTR programs.
Finkenauer's bill passed today as part of the National Defense Authorization Act, S.1790 (NDAA). The NDAA is an important piece of must-pass, bipartisan legislation that Congress considers annually. It is expected to be passed by the Senate and signed into law.