Bipartisan majority in House passes five bills that will offer critical assistance
WASHINGTON – U.S. Rep. Gabrielle Giffords voted with a bipartisan majority this week to pass five bills that would offer critical assistance to small business owners, the driving force behind the nation’s economy.
“There are many hopeful signs that the economy is improving, with some experts saying the recession finally is over,” Giffords said. “But small business owners know we still have a long way to go. Assisting them at this critical time is the goal of the legislation we passed today.”
All five bills now go to the Senate consideration.
The bills passed by the House are:
• H.R. 3014, the Small Business Health Information Technology Financing Act, is designed to speed the shift to electronic medical records.
The bill would guarantee up to 90 percent of the amount of a loan to small business health professionals for buying and installing health information technology for the professional’s medical practice. The loan would cover the purchase of computer hardware, software and related technology as long as it is used for medical records.
Electronic records allow different doctors to know a patient’s complete medical history so they can coordinate care. This helps avoid duplication of testing and prescribing medicines that in combination might be dangerous.
• H.R. 1839 would amend the Small Business Act to improve the Service Corps of Retired Executives.
The bill would increase the proportion of small business mentors from socially or economically disadvantaged backgrounds, establish benchmarks for evaluating SCORE’s activities and volunteers and establishes a mentoring program to small businesses by qualified counselors.
• H.R. 1834, the Native American Business Development Enhancement Act, would establish in the Small Business Administration the Office of Native American Affairs with the goal of increasing Native American entrepreneurship.
The bill, introduced by Rep. Ann Kirkpatrick of Arizona’s 1st Congressional District, allows Native American business owners who operate on tribal land to apply for grants to help with outreach and development of business startups and expansions.
• H.R. 1842, the Expanding Entrepreneurship Act, would improve the Small Business Administration's entrepreneurial development programs.
As part of the improvements, the SBA would be required to establish a Web site that provides comprehensive information on its programs, making it easier for business owners to take advantage of assistance.
• H.R. 3738, the Small Business Early-Stage Investment Act, would require the SBA to establish loan programs to support new small businesses in targeted industries.
The loans would be available to businesses in agricultural technology, energy technology, environmental technology, life science, information technology, digital media, clean technology and defense technology.
Giffords, a former small business owner, noted that small businesses created 65 percent of all new jobs over the past 15 years. “As go small businesses, so goes the economy,” she said.