In pursuit of more accountability and technology in business, Congressman Steve Knightâs (R-Palmdale) bill was passed through the Science, Space and Technology Committee on Thursday.
Named the Small Business Innovation Research and Small Business Technology Transfer Improvements Act, House Bill 2763 requires the Small Business Administration to provide a report by the end of each year.
Additionally, it would require the Department of Defense to include more technology related to small businesses.
âH.R. 2763 ultimately helps small businesses advance in innovation and research that will help industries across California and the nation,â Knight said in a statement.
âThe advantages of supporting small business in their ventures are endless as some of the greatest entrepreneurial advances in technology originate from the support of the surrounding community and government resources.â
Knight serves as the vice chairman of the Energy Subcommittee for the Science, Space and Technology Committee and as the chairman of the Contracting and Workforce Subcommittee for the Small Business Committee.
Science, Space and Technology Committee Chairman Lamar Smith (R-Texas) said program innovation is crucial to the success of the United Statesâ small business.
âThese critical programs have helped to spur small business innovation across multiple sectors of our economy,â Smith said in a statement.
âThe $3 billion that these programs award to small businesses annually helps recipients further (research and development) to create new products and technologies that create thousands of American jobs.â
According to Smith, House Republicans are prioritizing âregulatory relief and pro-growth tax cuts.â
The House Small Business Committee passed this bill 19-0 on June 15.
H.R. 2763 will now go to the House floor.
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