Bill · H.R. 1081· House(119-HR-1081)
Preventing SBA Assistance from Going to China Act
- Introduced
- 2/6/2025
- Last activity
- 2/6/2025 — Referred to the House Committee on Small Business.
- Sponsored by
- Cory Mills
- Cosponsors
- - 8 - 0
- Introduced
- In Committee
What this bill would do
This bill is titled the "Preventing SBA Assistance from Going to China Act." It aims to prohibit certain business concerns from receiving assistance from the Small Business Administration. The legislation specifically targets businesses affiliated with the People's Republic of China. It seeks to amend the Small Business Act to redefine what qualifies as a small business concern. Under this proposal, businesses incorporated in China or those with significant Chinese ownership would be excluded.
Yes
No question was scored yes.
The opposite
Does this make it easier to run a small business?-3
The bill reduces the pool of eligible small businesses by excluding those with significant Chinese ownership or incorporation.
Would business owners be better off under this?-2
Business owners with more than 25 percent Chinese ownership or those incorporated in China will be barred from SBA assistance.
Would immigrants be better off under this?-2
The bill negatively impacts immigrants who may have significant business affiliations or ownership ties to China.
Who it would affect, and how
Potential Positive Impacts for People
-
Prevention of SBA assistance to specific entities: The bill ensures that assistance from the Small Business Administration does not go to businesses located in or incorporated in the People's Republic of China (Section 2).
-
Restriction of voting stock control: The bill prevents businesses from receiving assistance if more than 25 percent of their voting stock is owned by affiliates who are citizens of or organized under the laws of the People's Republic of China (Section 2).
Potential Negative Impacts for People
-
Exclusion of businesses with Chinese ownership: Businesses that have more than 25 percent of their voting stock owned by affiliates that are citizens of or organized under the laws of the People's Republic of China would no longer be considered small business concerns (Section 2).
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Exclusion of businesses incorporated in China: Any business concern that is located and incorporated in the People's Republic of China would be prohibited from being considered a small business concern (Section 2).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners-2Good For Immigrants-2
- Economy And Finance
- Improves Small Business Support-3
- 2/27/2025
- 2 Cosponsors added.
- 2/6/2025
- Referred to the House Committee on Small Business.
- 6 Cosponsors added.
- Introduced in House
Vern BuchananRepublican · Florida
James BairdRepublican · Indiana
Scott DesJarlaisRepublican · Tennessee
Clay HigginsRepublican · Louisiana
Ronny JacksonRepublican · Texas
Scott PerryRepublican · Pennsylvania
W. SteubeRepublican · Florida
Daniel WebsterRepublican · Florida