OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Small Business Innovation and Economic Security Act

Floor Speech

Date: March 3, 2026
Location: Washington, DC

BREAK IN TRANSCRIPT

Ms. ERNST. Mr. President, I rise today as the Senate puts small business first in America's innovation program and gives them the certainty they need to build and grow.

For too long, our Nation's seed fund programs, SBIR and STTR, have been allowed to prioritize a few large companies over truly small businesses. Until now, these programs received blank checks to squander tax dollars meant to advance innovation in our national interest and have not protected taxpayer-funded technologies from foreign influence.

When confronted with this unacceptable status quo, I knew Congress could work together to find a solution for our truly small businesses. After working across the aisle and with our small businesses, we now have the necessary reforms to strengthen America's seed fund while unleashing small businesses to deliver for taxpayers and our warfighters.

Together, our bipartisan, bicameral legislation will ensure awardees safeguard tech against Chinese espionage, hold recipients accountable to actually producing cutting-edge technologies and capabilities--no more blank checks--require for the first time an annual limit on applications to prioritize truly small businesses over large companies who know how to game the system, establish the first of its kind strategic breakthrough awards, and, finally, provide taxpayers with transparency into who receives these awards.

These changes were necessary, and we are taking the time to absolutely get it right. And, tonight, I am proud the Senate is unanimously passing these long-overdue updates for innovators.

And at this time I would like to yield the floor to my ranking member on the Small Business Committee Senator Markey.

BREAK IN TRANSCRIPT

Ms. ERNST. Mr. President, notwithstanding rule XXII, I ask unanimous consent that the Senate proceed to the immediate consideration of S. 3971, which is at the desk.
BREAK IN TRANSCRIPT

Ms. ERNST. I know of no further debate on the bill.
BREAK IN TRANSCRIPT


Source
arrow_upward