Steve Chabot

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 8199, the 504 Credit Risk Management Improvement Act of 2020. The SBA's 504/CDC Loan Program provides lending assistance to thousands of small businesses year in and year out. This assistance translates into supporting tens of thousands of jobs on an annual basis. This economic development program is and has been making a difference in neighborhoods and communities all across this great Nation. With any successful government program, oversight must remain a significant factor. H.R. 8199 places an important focus on oversight and ensures the SBA has the appropriate capabilities to oversee the 504/CDC Loan Program. Beyond oversight, H.R. 8199 also ensures that the 504/CDC Loan Program participants have the rules and guidance to comply with the National Environmental Policy Act and successfully operate within that program. I want to thank the gentleman from North Carolina (Mr. Bishop) and the gentlewoman from Minnesota (Ms. Craig) for their leadership and for working together to craft this legislation, once again, in a bipartisan manner. I want to thank the chair, Ms. Velazquez also for encouraging that cooperation between both sides. Mr. Speaker, I urge my colleagues to support this, and I reserve the balance of my time.

Mr. CHABOT. Mr. Speaker, I have no further speakers on my side, so I am happy to close. Mr. Speaker, Congress must continue to work together to strengthen the SBA's existing guaranteed loan programs. The SBA's programs must work for the Nation's smallest firms and the Nation's taxpayers. H.R. 8199 meets both objectives by applying appropriate oversight requirements to the SBA's 504/CDC loan program. Therefore, I urge my colleagues to support this bipartisan legislation. Mr. Speaker, I, once again, thank Ms. Craig and Mr. Bishop for their leadership, and I thank the chairwoman for her leadership on this. I yield back the balance of my time.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I have no other speakers and I am prepared to close, so I yield myself the balance of my time. Mr. Speaker, I urge my colleagues to support this bipartisan legislation. As our Nation's small businesses continue to face numerous capital access challenges, the SBA's existing government guarantee loan programs must be prepared to provide assistance. This bill, H.R. 8211, does just that by expanding the 504/CDC Loan Program's economic development goals and enhancing the program for small manufacturers. This program has a proven record of the success, and the improvements that this legislation delivers will continue this track record into the future. I ask for my colleagues' support, and I yield back the balance of my time.

Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 8211, the 504 Modernization and Small Manufacturer Enhancement Act of 2020. Fortunately, many of the SBA's government guaranteed loan programs have a strong track record of producing results. Included near the top of that list is the 504 loan program. The SBA's 504/CDC Loan Program provides the Nation's smallest businesses with long-term and fixed-rate financing. Importantly, for a project to qualify for this government guarantee loan program, certain economic development goals must be met, including job creation and job retention goals. H.R. 8211 modernizes that program by expanding the public policy goals to include businesses with 10 employees or less, as well as enhancing the program for small manufacturers. I would like to thank the gentlewoman from Minnesota (Ms. Craig) for working with me in a bipartisan fashion to craft this piece of legislation. I would also like to thank the chairwoman, Ms. Velazquez, once again for advancing this legislation that was favorably reported out of committee unanimously; so both Republicans and Democrats supporting it. I urge my colleagues to support this, which provides crucial updates to the SBA's program, and I reserve the balance of my time.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, this is a good bill that deserves our support. The SBA's Community Advantage program provides both financial and technical assistance to our Nation's smallest firms. It is a great program that has proven results. Mr. Speaker, I urge my colleagues to support this bill, and I yield back the balance of my time.

Mr. CHABOT. Mr. Speaker, I yield such time as he may consume to the gentleman from Florida (Mr. Spano). Mr. Speaker, I thank the gentleman for his service in this body. He has introduced and supported a number of pieces of legislation and has worked very hard in his leadership position as ranking member of the Oversight, Investigations and Regulations Subcommittee. I thank him for his service here.

Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume. I rise in support of H.R. 7903, as amended. This is a bill to improve and authorize the SBA's Community Advantage Loan Program for 5 years. Mr. Speaker, before I get into the business of the day, I would like to mention that, with the passage of these four bills today, our committee has produced 35 individual bipartisan pieces of legislation that have passed the House just this Congress. We have had similar numbers the previous two Congresses, as well. That is an uncommon occurrence in a time of divided government. The reason we have been so successful in improving the programs that benefit America's more than 30 million small businesses is the leadership and the bipartisanship of our chairwoman, Nydia Velazquez. Now, this is my swan song, so to speak, here as the ranking member of the committee, as I am term-limited and, therefore, unable to continue serving in that role. I have had the pleasure of being on the Small Business Committee--I am on the Foreign Affairs Committee and Judiciary Committee, as well--for 12 terms now, representing Ohio's First Congressional District. I have also been fortunate to have been the ranking member two of those terms and the chair of the committee two of those terms, as well. Again, that is why I am term-limited. In each of those terms that I have spent in a leadership position on the committee, my counterpart was Chairwoman or Ranking Member Velazquez. She has remained a valued friend and a reliable partner to do the things that we needed to do to help the Nation's small businesses. I sincerely thank her for the partnership that we have forged over the years. We share a common bond of wanting to do everything in our power to help America's small businesses, and we have consistently been able to put partisan politics aside and work together to support that goal. So, again, I thank her for her willingness to work with my staff and me over those years, and I hope and trust that they will be able to continue that relationship with my replacement, and I think that will happen. Finally, I mentioned staff before. I want to thank the longtime Democratic Small Business Committee staffers Melissa Jung, Justin Pelletier, Naveen Parmar, and Ellen Harrington for their extraordinary commitment to bipartisanship over the years, regardless of who was chair or who was the ranking member. Again, on that committee, we have worked together for many years now. Now, to the business at hand. When traditional and conventional lending is out of reach for the Nation's smallest businesses, they have the opportunity to turn to a number of the SBA's government guaranteed lending programs. For approximately 10 years, the SBA has been operating a Community Advantage pilot program that combines access to capital and technical assistance. The legislation before us today makes structural changes and improvements in the program and authorizes it for 5 years. With oversight and reporting requirements in place, this program will continue to provide access to capital and consistency to the Nation's job creators who truly need assistance. I thank the gentleman from Florida (Mr. Spano) and the gentlewoman from California (Ms. Judy Chu) for working in a bipartisan manner on behalf of the Nation's smallest firms. They have both worked together on this and previous legislation, both of them, in the spirit of bipartisanship on that committee. Mr. Speaker, I urge all of my colleagues to support H.R. 7903, which was favorably reported out of the committee via voice vote, and I reserve the balance of my time.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I want to reiterate the comments of the previous speaker on our side, the gentlewoman from Arizona. Mr. Woodall has made great contributions to this body in the decade that he has served here. He happens to be a classmate of mine. We came together in 2010. That was his first time as a Member of Congress. It was my second time around, because I lost back in `08 after being here 14 years. So I have seen Mr. Woodall in operation here for the last decade. He has done a tremendous job on behalf of not only his constituents but for the people of this great Nation. I want to thank him for his dedication and hard work for the people that he represents and for the people of this Nation overall. Mr. Speaker, 2 weeks ago, I spoke on this very floor urging action on behalf of our Nation's 31 million small businesses, as the ranking member of the House Small Business Committee, formerly the Chair of that committee for two terms. I said then that there was no better way to celebrate Small Business Saturday than to deliver much-needed aid, again, to the small restaurants and manufacturers and shops that are many of them just hanging on by a thread. That assistance could come in the form of the Paycheck Protection Program, the PPP. That program has supported over 50 million jobs across this great Nation. That is over 50 million people who didn't have to worry about how they were going to pay their bills or how they were going to support their families, because of this bipartisan program that we passed here in this body. Unfortunately, that program stopped accepting applications almost 4 months ago, back on August 8, but still has over $130 billion remaining in its coffers. Millions of small firms across the country have utilized the PPP program to keep their shops open, to keep paying their employees, and to keep serving their communities. To me, it seems like common sense to open the program back up. After all, it was initially crafted, as I mentioned, in a bipartisan way, Republicans and Democrats actually working together. It was bicameral, the House and the Senate working together, and then the administration, obviously, signing it into law. And that program has proven to be overwhelmingly successful and saved so many jobs all over this Nation, including in my district back in Cincinnati. So I introduced a bill that would do just that and provide targeted assistance to small businesses that truly still need help. Unfortunately, the Democratic leadership in this body has blocked efforts to even have a vote on this legislation, not just once or twice or three times or a dozen times, but 40 times, 4-0. Forty times the Democratic leadership has blocked consideration or having a vote on this. Because the Democrats would also support this. You would have Democrats and Republicans, once again, working together and passing this and helping small business people all across the country and, most importantly, the people and families that are supported by them. As we all know, many small businesses are still uncertain about their future. Many are on the verge of closing their doors permanently. If that continues to happen, communities all across our great Nation will be absolutely devastated. This should have been dealt with months ago. But apparently our Democratic leadership feels it is more urgent to vote on legislation to legalize pot and to deal with lions and tigers than they do to help those small businesses that really need the help. That is just a shame. Today, if we defeat the previous question, we make improvements to the Paycheck Protection Program, and finally get additional targeted relief to the small businesses all across this country that are counting on us. Let's not let them down.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I have no further speakers on my side, and I yield myself the balance of my time. Mr. Speaker, this is good legislation. It moves the ball forward. Moving the HUBZone appeals process to the OHA places small businesses that have a complaint about the program on equal footing with other appeals processes throughout the SBA, and that is a good thing. I want to, again, thank Mrs. Radewagen for her leadership on this particular legislation and Ms. Houlahan from Pennsylvania as well, and the chairwoman, as always, for working in a bipartisan manner. Mr. Speaker, I urge adoption of this bill, and I yield back the balance of my time.

Mr. CHABOT

Mr. CHABOT. Madam Speaker, the gentleman from New York suggested that we, on this side of the aisle, should talk to the President of the United States about what he has or hasn't done. Well, he is all the way down on Pennsylvania Avenue. I would suggest the gentleman from New York might want to talk to a lady, probably in this very building right now, and that is the Speaker, who can bring up a second round of PPP loans. We have got the votes. Republicans and Democrats both agree we ought to do this, but she wouldn't bring it up for a vote. So we tried to go through the discharge petition process. And no Democrat in this House would sign it and let us have a vote. So we are trying again, because a lot of small businesses really need this. Madam Speaker, an important holiday is coming up. Next Saturday is Small Business Saturday. It is the day when we take time to support the restaurants and shops and other small businesses that create two out of every three new jobs in America. Normally, this is an occasion to eat a delicious meal, get a head start on Christmas shopping, and say hello to friends and neighbors. Unfortunately, this year, an awful lot of those small businesses are struggling due to COVID-19. A recent NFIB survey indicated that over half of small businessowners expect to seek additional financial assistance over the next year. If they can't access that help, they may be forced to lay off employees again or cease operations. That is just unacceptable, because we can help them. We have a program that has already supported over 50 million jobs all across this country. It even has over $130 billion ready to go. We already have the money. We don't have to appropriate additional dollars at all. The money is there. That program, the PPP, or Paycheck Protection Program, stopped accepting applications back in August. Instead of quickly passing a bill to reopen the program, the Democratic leadership in this House used it as a political football for over 3 months while small businessowners had to drain the last of their funds to stay in existence and to continue to pay their employees, and they nervously continued to worry about how they are going to make payroll. Madam Speaker, today, we have a chance to do the right thing and do right by these small businesses. They are, after all, the heartbeat of each and every one of our communities. Madam Speaker, if we defeat the previous question, which is before us now, we can move directly to the legislative package that includes the bill that I just mentioned, my bill, the PPP, again, to reopen and improve the Paycheck Protection Program. Madam Speaker, let's defeat this previous question and send aid to those small businesses all across the country who desperately need it. I can think of no better way to celebrate Small Business Saturday.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I thank the gentleman for yielding, and I thank the gentleman from South Carolina (Mr. Wilson) and the gentleman from New York (Mr. Espaillat) for their leadership on this legislation here today and previous to this. Mr. Speaker, I rise in support of H.R. 7954, the Tropical Forest and Coral Reef Conservation Reauthorization Act of 2020. It is bipartisan legislation that I introduced with my Democratic colleague and friend from California, Brad Sherman, as a companion to legislation that Senator Portman introduced previously in the Senate. I want to thank Senator Portman. He has been a longtime leader on this topic, and it makes a lot of sense. It is really common sense. It helps so many people all across the globe. Tropical forests and coral reefs are some of the most biologically diverse and environmentally important ecosystems anywhere. Today, however, whether it is deforestation or pollution or overfishing or some other cause, these vital natural resources are threatened across the globe. Now, many tropical forests and coral reefs are located in the developing world where economic realities can often get in the way of the conservation. It is in the best interest of the whole world to protect and responsibly manage these resources. That is why I introduced H.R. 7954. This legislation builds on our work on the Tropical Forest Conservation Reauthorization Act of 2018 and the Tropical Forest Conservation Act back in 1998, so this is 22 years ago. Back in 1998, we set up a debt forgiveness program under which the U.S. forgives a debt owed to us by a developing nation in exchange for that country making investments in conservation work to sustain its critical ecosystems. Agreements under this program also strengthen local economies by supporting sustainable development of these resources as well as civil society groups in partner nations that conduct conservation works. And this program has proven results. Since 1998, as was mentioned, the U.S. has used it to conserve 67 million acres--think of that, 67 million acres--of tropical forests. Further, by assisting developing countries to properly manage and sustainably develop these resources, the program follows the old adage of teaching a man to fish. With these benefits in mind, I am proud to say that our legislation has received the support of Conservation International, the World Wildlife Fund, the Wildlife Conservation Society, and The Nature Conservancy, among others. Finally, our legislation sets a sharp contrast with what the Chinese development model is. Through the Belt and Road Initiative, for example, China has offered elites in developing countries flashy or get-rich-quick schemes and projects, often with little or no regard for the local environment. Citizens in these countries are taken advantage of. H.R. 7954 keeps one more tool in the State Department's toolbox to help convince developing countries to choose a sustainable, Western model of development that stacks up very favorably with China's model by respecting the country's ecosystem and respecting its people. Passing this bill, H.R. 7954, extends a highly successful conservation program and helps counter China's pig in a poke development model; therefore, I would urge my colleagues to support this legislation. Again, I thank Mr. Wilson and Mr. Espaillat.

Mr. CHABOT

Mr. CHABOT. Madam Speaker, I ask unanimous consent to call up H.R. 8265 to extend the Paycheck Protection Program bill that I introduced to keep millions of employees on the payroll of America's small businesses.

Mr. CHABOT

Mr. CHABOT. I thank the gentleman for yielding, Madam Speaker. Madam Speaker, the Paycheck Protection Program, or PPP as many of us refer to it, has been shut down now for over 50 days. That is nearly 2 months that small businesses have been unable to access approximately $137 billion that still remains in the program that was supposed to go for their relief. Small businesses and their workers need our help. Small businesses employ nearly half of the workers in this Nation, one out of two. Think of that. One out of every two people employed in this Nation works for one of America's small businesses. Not only do they represent millions of workers, but they also are the Nation's job creators. They create approximately two out of every three new jobs in America. Of course, these aren't just statistics. One example of an outstanding small business owner is Lacie Sims. Recently, I had the opportunity to visit Lacie's business, the Village Family Restaurant, in Waynesville, Ohio, back in my district. Lacie spoke with me about how she used the Paycheck Protection Program to keep her 25 workers employed so that they could continue to serve the community and, most importantly, continue to support their families. Lacie went on to tell me about how she quickly adapted her business to accommodate pickup, delivery, and safe indoor dining. Like Lacie, many small business owners have adapted and persevered through the pandemic. Unfortunately, COVID-19 continues to challenge their very existence. Now is the time for us to act, and we have an option before us here today. If we defeat today's previous question, we can move directly to my legislation to reopen the Paycheck Protection Program, the PPP program. H.R. 8265 would provide targeted assistance to small businesses that truly need the Federal Government's help. This legislation gives small businesses the opportunity to receive a second PPP if they can demonstrate a significant revenue reduction or a first-round loan if they didn't get one the first time. Additionally, it adds more flexibility in how the PPP dollars can be spent and still be eligible for loan forgiveness. Many small businesses are still struggling across this country. We need to act now to help these small businesses, the people that they employ, and the families that they, in turn, support. Let's defeat the previous question and restart the Paycheck Protection Program. The Nation's economy is at stake. We still have $137 billion sitting there that was intended to go to these small businesses. We don't have to allocate any more funding. The funding is there. Now, my Democratic colleagues have said that they are for small business. This is the time not just to talk the talk but to walk the walk. You get two opportunities, Madam Speaker, you can vote against this previous question or you can sign the discharge petition. Either one of them gives us another vote. Let's save these small businesses.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I thank the gentlewoman for yielding. Mr. Speaker, it has now been over 46 days since the Paycheck Protection Program, also known as PPP, was shut down. This means that small businesses have been prevented from applying for CARES Act funding through the PPP for over a month and a half now. This also means that real people's jobs continue to be in jeopardy through no fault of their own. This is just unacceptable, Mr. Speaker. This is unacceptable because small businesses play an outsized role in our economy. They employ half of all workers in this country. Think about that. Nearly one out of every two workers in this country are employed by small businesses. Not only do small businesses employ millions of people, but they are also this Nation's job creators. They create approximately two out of every three new jobs in this country. Beyond statistics, they are the heartbeat of Main Streets all across America. They are the corner store, the neighborhood coffee shop, and the restaurant in the town or village. They are the fabric of commerce in my home State of Ohio, as they are in Florida, in Texas, in California, and all across this country. Their workers clock in early and often retire after the sun sets. Simply put, they are America's businesses. Unfortunately, COVID-19 continues to challenge their very existence. Now is the time to act. We really should have acted 46 days ago. We have an option before us today, this very day. If we defeat today's previous question, then we can move directly to my legislation to reopen the Paycheck Protection Program to all those small businesses all over the country that are clamoring to get them and that really need them. H.R. 8265 would provide targeted assistance to small businesses that truly need the Federal Government's help. The legislation gives small businesses the opportunity to receive a second PPP if they can demonstrate a significant revenue reduction of 25 percent. Additionally, it adds more flexibility in how PPP dollars can be spent and still be eligible to have those loans forgiven. Many of our Nation's small businesses are still struggling significantly. We need to work quickly to provide a path forward for as many of them as possible. Just as small businesses meet and exceed the expectation of their customers, let's meet the needs of small businesses across the country. Let's defeat the previous question and restart the PPP, the Paycheck Protection Program. Our economy is depending upon America's small businesses, and America's small businesses are depending upon us here today. This vote really does matter. Usually, these things are procedural, but this is an opportunity not just to help those small businesses but, most importantly, those people who work for them and the families they support.

Mr. CHABOT

Mr. CHABOT. Madam Speaker, I want to thank the ranking member for yielding. And I want to thank the gentleman from Virginia (Mr. Connolly) for his leadership on this. Madam Speaker, I rise in support of H.R. 2166, the Global Health Security Act. And this was already stated, it was bipartisan legislation offered by my good friend, Mr. Connolly. We have worked on a whole range of issues in a bipartisan manner over the years. He is a Democrat and I am a Republican, but we actually worked together. He and I introduced it at the beginning of last year. So this was early 2019 to strengthen U.S. and global preparedness for and capacity to respond to pandemics like the coronavirus. This legislation was not born out of the coronavirus. It was born out of a bipartisan vision for strengthening global health systems around the world in case a disease like the coronavirus emerged. And as we know, it did, catching the whole world really flat-footed. Congressman Connolly and I introduced this legislation in April 2019, well before anyone had ever heard the term ``COVID-19.'' When the Foreign Affairs Committee considered this legislation in March of this year, there were 100,000 coronavirus cases worldwide. That number has now risen, as we know, to over 30 million that we know of. The Global Health Security Act has two main objectives. First, it codifies bipartisan support for the Global Health Security Agenda. This multilateral partnership started under the Obama administration and was embraced by the Trump administration. It aims to strengthen health systems and laboratories in countries across the globe so that they meet International Health Regulation standards. Many of our constituents may wonder why we should support health systems abroad when there are so many needs here at home. Well, the coronavirus pandemic clearly shows that a weak and opaque health system in another country--in this case, China--can directly threaten us right here in America. That is why we must remain vigilant, so we can contain future emergent deadly diseases where they originate before they have a chance to become a pandemic and affect us here at home. Second, our bill makes sure that we have the personnel in place to prepare and respond to pandemics like the coronavirus. We need someone to coordinate our government's response since that response inevitably involves several agencies across the government, from the State Department to the CDC, et cetera. Several Republicans, including then-Chairman Ed Royce, called on the Obama administration to appoint a single point person with a health background during the Ebola outbreak back in 2014. President Obama's team got it half right by choosing a single person, who was a political appointee. The Trump administration appointed Dr. Debbie Birx, this time a universally respected health expert, as White House Coronavirus Response Coordinator under Vice President Mike Pence. In any event, our bill would make this position permanent so that when the next pandemic comes, America and the world are fully prepared to address that crisis. Witnessing the death toll and the economic devastation that the coronavirus has brought, I think all Americans will agree that protecting our Nation's health from future pandemics must be seen as a national security priority. We need to take this opportunity to recommit to leadership on global health security and prepare the world to face and defeat the next pandemic. I urge my colleagues to support this bill. I again thank the gentleman from Virginia (Mr. Connolly) for his leadership on this bill.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I yield myself the balance of my time. The recent growth of the SBA's microloan program has shown how beneficial it can be to small-dollar borrowers. Not only does this bill make the program more valuable to small firms located in rural areas, it also increases transparency and allows future Congresses with important information to help guide policy decisions. This is a bipartisan, good government piece of legislation that deserves each Member's support. I thank Mr. Burchett and Mr. Kim for their leadership. I once again thank Representative Velazquez for, as always, working together with us in a bipartisan fashion. I very much appreciate that. Mr. Speaker, I yield back the balance of my time.

Mr. CHABOT. Mr. Speaker, I yield such time as he may consume to the gentleman from Tennessee (Mr. Burchett). I thank him for his leadership in pushing this legislation.

Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I want to again thank the chair, Ms. Velazquez, for working in a bipartisan manner on all four of these bills, and that is why both Republicans and Democrats support all four, because we really are working together, and that is good for the country. Mr. Speaker, to enhance the dissemination of microloans in rural areas and to increase transparency, this bill, H.R. 6078, the Microloan Transparency and Accountability Act of 2020, was introduced by the gentleman from Tennessee (Mr. Burchett) and the gentleman from New Jersey (Mr. Kim). In order to meet the needs of low-dollar borrowers, the SBA offers the microloan program. As with all the SBA financial assistance program, the SBA does not make a microloan directly to a small business. Rather, it makes direct loans to a nonprofit, called a microloan intermediary. The intermediary, in turn, makes loans of up to $50,000 to borrowers and is required to provide technical assistance to its borrowers through a technical assistance grant. The average loan within the microloan program is approximately $14,500, and the program has grown from approving over 3,500 loans for a total of $52 million in fiscal year 2015 to approving over 5,000 loans--5,532, to be exact--for over $81 million in fiscal year 2019. H.R. 6078, the Microloan Transparency Act of 2020, increases transparency for the growing microloan program and enhances microloan options for rural areas. Specifically, H.R. 6078 requires the SBA to perform an annual portfolio risk analysis to examine defaults and charge-off rates to ensure taxpayer money is safeguarded. Additionally, to enhance the dissemination of rural loans, the bill introduces an opportunity for an intermediary that currently makes at least 25 percent of its loans to a small business serving rural areas the ability to receive a 5 percent bonus technical assistance grant. Mr. Speaker, I would again like to thank Mr. Burchett and Mr. Kim for working together to protect American taxpayer dollars and to ensure our rural communities have the ability to utilize this program to its fullest. Mr. Speaker, I fully support this bipartisan legislation. I urge my colleagues to vote ``yes,'' and I reserve the balance of my time.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume. We have no further speakers on our side, so I am prepared to close. I would like the thank gentleman from the Northern Mariana Islands (Mr. Sablan) and the gentlewoman from American Samoa (Mrs. Radewagen) for their leadership on this issue. The legislation is long overdue, and I am happy to support the bill. I urge my colleagues to support the bill as well, and I yield back the balance of my time.

Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, this extends a matter of simple fairness to American citizens. Currently, the Northern Mariana Islands, part of the United States since 1975, is the only U.S. jurisdiction not included for eligibility in certain SBA programs. According to the SBA, there are more than 1,700 small businesses in the Commonwealth that employ more than 18,000 people. These businesses, these owners, these employees, and these families are no different than those in my hometown of Cincinnati or those in the chairwoman's district in Brooklyn. This bill amends the Small Business Act to allow the Commonwealth of the Northern Mariana Islands to establish a lead Small Business Development Center, or SBDC, and to be eligible for the same funding as the other lead SBDCs across our Nation. Additionally, H.R. 6021 waives the requirement that the new SBDC be established at a higher education institution because the Commonwealth of the Northern Mariana Islands does not have a college or university to operate an SBDC on campus. The Northern Mariana Islands' 55,000 inhabitants deserve the same access to SBA programs as any other American citizen, and this bill ensures that they do. It is a very simple, bipartisan, and just piece of legislation. I urge my colleagues to support it, and I reserve the balance of my time.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I have no speakers, and I yield myself the balance of my time for the purpose of closing. Mr. Speaker, I urge my colleagues to support this bipartisan legislation. Microloans offered by the SBA serve our Nation's smallest of small businesses. The increased flexibility this legislation permits will allow lenders and borrowers to fully utilize the benefits of this program to the maximum extent possible. It is a good bill, and I would urge my colleagues to support it. Mr. Speaker, I yield back the balance of my time.

Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, in order to assist small-dollar borrowers, the SBA offers the microloan program, where small businesses can receive loans of up to $50,000 or less from nonprofit intermediaries. Beyond the financing support, the microloan program also requires these nonprofit intermediaries to deliver technical assistance and counseling to small business borrowers. This two-pronged approach has proven again and again to provide lower-dollar borrowers a leg up in starting or sustaining their small businesses. The program registered record highs in fiscal year 2019, with over 5,500 loans approved for over $80 million. I want to thank the gentleman from New Jersey (Mr. Kim) and the gentleman from Tennessee (Mr. Burchett) for working in a bipartisan manner to introduce H.R. 6079, the Microloan Improvement Act of 2020. This bill builds on the strengths of the program by introducing flexibility and more features for small-dollar borrowers to utilize as they move through the microloan lending process. H.R. 6079 gives microloan intermediaries the ability to offer lines of credit within the microloan program and increases the outstanding limit each microloan intermediary may carry from $6 million to $7 million. Additionally, H.R. 6079 replaces the outdated and burdensome one- fifty-fifth rule that prevents microloan intermediaries from accessing the program in the first two fiscal quarters of each year with a reserve fund that ensures both large and small States have the ability to utilize the program. Finally, H.R. 6079 introduces a flexible grant process that has the potential to reward extra assistance to each microloan intermediary if overflow exists. I fully support this commonsense legislation, and I urge my colleagues to vote ``yes.'' Mr. Speaker, I reserve the balance of my time.

Mr. CHABOT

Mr. CHABOT. Mr. Speaker, I yield myself the balance of my time for the purpose of closing. Mr. Speaker, the SBA's STEP program provides financial awards to State and territory governments to assist small businesses with export development. The financial support that STEP provides helps small businesses to learn how to export, participate in foreign trade missions and trade shows, and design international marketing products or campaigns. It is a commonsense, bipartisan piece of legislation. I urge my colleagues to support it, and I yield back the balance of my time.

Mr. CHABOT. Mr. Speaker, I yield such time as he may consume to the gentleman from Florida (Mr. Spano), who is the ranking member of the Investigations, Oversight, and Regulations Subcommittee.

Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 6133, the STEP Improvement Act of 2020. This legislation will authorize the SBA State Trade Expansion Program--or STEP--for the next 4 years. This important program facilitates small business participation in trade missions and shows, international marketing efforts, workshops, and other promotional activities. The Small Business Act of 2010 authorized the SBA to establish a 3- year STEP pilot grant initiative. The program has two objectives: One, increase the number of small businesses that export; and, two, raise the value of existing small business exporters. The Associate Administrator of the Office of International Trade is responsible for overseeing the program and awards, matching funds to States and territories for participation in trade missions, international marketing efforts, workshops, export trade show exhibits, and other promotional activities. The Trade Facilitation and Trade Enforcement Act of 2015 renamed the program the State Trade Expansion Program and provided a $30 million authorization through fiscal year 2020. The act allowed the Associate Administrator of the Office of International Trade to give priority to STEP proposals from States that have a small number of small businesses that export or proposals that would assist rural, women-owned, and socially or economically disadvantaged small businesses. This legislation will improve the implementation of the program by creating a standardized application process, increasing grant spending flexibility, improving communication between the SBA and States, and collecting performance metrics and reporting to Congress. H.R. 6133 reinforces our commitment to seeing that the SBA fulfills its goals relating to the STEP program and maximizes every dollar to help small businesses reach their potential in the international market. The bill provides greater flexibility to State trade agencies and enhances accountability at the SBA--a balance that will greatly improve program functions. Mr. Speaker, I thank the gentlewoman from Iowa (Ms. Finkenauer), and the gentleman from Florida (Mr. Spano), for their leadership on this bill. And I especially thank the chair of the Committee on Small Business for her great leadership on the committee and the bipartisan work that we have done on this for such a long time. Ms. Velazquez and I have had the opportunity to work on the committee for many years now, and it is truly one of the committees in this Congress that works because it is bipartisan, and that is why we have been able to pass such important legislation and work so hard on the PPP and other programs over the years. Mr. Speaker, I thank the chairwoman, and I reserve the balance of my time.