CONGRESSWOMAN ELISE STEFANIK
The House is scheduled to consider H.R. 1842, under suspension of the rules, requiring a two-thirds majority vote for passage. H.R. 1842 was introduced on April 1, 2009, by Rep. Blaine Luetkemeyer (R-MO). The bill was incorporated into H.R. 2352, which passed the House on May 20, 2009, by a vote of 406-15.
H.R. 1842 requires the Small Business Administration (SBA) to develop a plan for creating jobs through its entrepreneurial development programs. The SBA would also have to implement a consistent data collection process for all of its development programs. The SBA Administrator would establish a web-based portal with comprehensive information on all of the agency's development resources.
The SBA, created in 1953, has a loan portfolio of about 220,000 loans worth over $50 billion. The SBA operates several financing programs that offer subsidies to small businesses attempting to secure access to capital.
A CBO score for H.R. 1842 is not yet available.