[Congressional Record Volume 153, Number 129 (Tuesday, September 4, 2007)]
[House]
[Pages H10026-H10029]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
{time} 1430
SBA TRADE PROGRAMS ACT OF 2007
Ms. VELAZQUEZ. Mr. Speaker, I move to suspend the rules and pass the
bill (H.R. 2992) to amend the Small Business Act to improve trade
programs, and for other purposes, as amended.
The Clerk read the title of the bill.
The text of the bill is as follows:
H.R. 2992
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``SBA Trade
Programs Act of 2007''.
(b) Table of Contents.--The table of contents for this Act
is as follows:
Sec. 1. Short title; table of contents.
TITLE I--SMALL BUSINESS TRADE POLICY
Sec. 101. Develop and implement small business trade policies.
Sec. 102. Establish an annual small business trade strategy.
Sec. 103. Track small business exports and trade resource utilization.
TITLE II--TRADE COMPLIANCE PROGRAMS
Sec. 201. Trade Remedy and Dispute Assistance Initiative.
Sec. 202. Patent Assistance and Intellectual Property Protections
Initiative.
TITLE III--TRADE ADJUSTMENT ASSISTANCE FOR SMALL BUSINESSES
Sec. 301. Trade Adjustment Assistance Financing Initiative.
Sec. 302. Technical resources for trade adjustment assistance.
TITLE IV--EXPORT ASSISTANCE
Sec. 401. Increase Small Business Administration participation at
Export Assistance Centers.
Sec. 402. Increase access to capital for small and medium-sized
exporters.
Sec. 403. Clerical amendment.
TITLE V--AUTHORIZATION OF APPROPRIATIONS
Sec. 501. Authorization of appropriations.
TITLE I--SMALL BUSINESS TRADE POLICY
SEC. 101. TRADE POLICY FOR SMALL BUSINESS.
Section 22 of the Small Business Act (15 U.S.C. 649) is
amended by adding at the end the following:
``(h) Role in Trade Policy.--
``(1) Recommendations.--The director of the Office shall
present recommendations regarding small business exporters to
trade negotiators.
``(2) Development of trade policies.--The director of the
Office shall assist in the development of trade policies that
increase opportunities for small businesses in domestic and
foreign markets, including the removal of trade barriers.
``(3) Implementation of trade policies.--The director of
the Office shall assist in the implementation of trade
policies through relationships developed with Federal trade
policymakers, particularly the United States Trade
Representative, and transnational organizations, such as the
Organization for Economic Co-operation and Development.
``(4) Small exporter promotion programs.--The director of
the Office shall establish programs that will boost the
export opportunities of entrepreneurs and encourage
transnational organizations, such as the Organization for
Economic Co-operation and Development, small exporter
organizations, and ministries of foreign governments to
support and publicize these programs.
``(5) Strategic alliances.--
``(A) Congressional notification.--The director of the
Office shall notify the Committee on Small Business of the
House of Representatives and the Committee on Small Business
and Entrepreneurship of the Senate of pending strategic
alliances.
``(B) Follow-up activities.--The director of the Office
shall ensure that planned and documented follow-up activities
for strategic alliances increase trade opportunities for
small businesses.
``(C) Strategic alliance defined.--In this paragraph, the
term `strategic alliance' means a working relationship,
entered into between the Small Business Administration and
foreign national ministries representing small business
concerns, for the purpose of strengthening trade between
United States small businesses and foreign small businesses
by establishing overseas networks and buyers.''.
SEC. 102. ESTABLISH AN ANNUAL SMALL BUSINESS TRADE STRATEGY.
Section 22 of the Small Business Act (15 U.S.C. 649), as
amended by this Act, is further amended by adding at the end
the following:
``(i) Annual Small Business Trade Strategy.--
``(1) In general.--The director of the Office shall develop
and maintain a small business trade strategy that is
contributed as part of the National Export Strategy developed
by the Department of Commerce that includes at least the
following components:
``(A) Strategies to increase small business export
opportunities. The strategies shall include a specific
strategy to increase small business export opportunities to
the Asia Pacific Region.
``(B) Recommendations to increase the competitiveness of
domestic small business industries in the global economy.
``(C) Recommendations to protect small businesses from
unfair trade practices, including intellectual property
violations.
``(D) Strategies to expand small business representation in
United States trade policy formation and implementation.
``(E) Coordination efforts with the Trade Promotion
Coordinating Committee of the Department of Commerce, as well
as with Federal agencies that also provide trade financing to
small businesses, such as the Overseas Private Investment
Corporation and the Export-Import Bank.
``(2) Report.--At the beginning of each fiscal year, the
director shall submit to the Committee on Small Business of
the House of Representatives and the Committee on Small
Business and Entrepreneurship of the Senate a report on the
small business trade strategy required by paragraph (1). The
report shall cover, at a minimum, each of the components
required by paragraph (1) and shall include specific policies
and objectives and timelines to implement those policies and
objectives.''.
SEC. 103. TRACK SMALL BUSINESS EXPORTS AND TRADE RESOURCE
UTILIZATION.
Section 22 of the Small Business Act (15 U.S.C. 649), as
amended by this Act, is further amended by adding at the end
the following:
``(j) Tracking System.--
``(1) In general.--The director of the Office shall develop
a system to track small business exports and the use by small
businesses of Federal trade promotion resources. The director
shall ensure that the system is consistent through each
Federal agency member of the Trade Promotion Coordinating
Committee.
``(2) Design emphasis.--The director shall give particular
attention, in designing the system, to the tracking of data
on the trade of services by small exporters, in consultation
with the Department of Commerce.
``(3) Implementation.--The director shall work in
consultation with members of the Trade Promotion Coordinating
Committee to ensure that the system is implemented and that
the results of the system are reported annually in the
National Export Strategy conducted by the Trade Promotion
Coordinating Committee.''.
TITLE II--TRADE COMPLIANCE PROGRAMS
SEC. 201. TRADE REMEDY AND DISPUTE ASSISTANCE INITIATIVE.
Section 22 of the Small Business Act (15 U.S.C. 649), as
amended by this Act, is further amended by adding at the end
the following:
``(k) Trade Remedy and Dispute Assistance Initiative.--The
director of the Office shall design, and the district offices
of the Administration shall implement, a program that
provides technical assistance, counseling services, and
reference materials to assist small businesses navigate the
trade dispute and remedy processes. The program shall
include--
``(1) information on available resources, procedures, and
requirements for trade remedy investigations;
``(2) an approach for district office staff to provide one-
on-one assistance to small businesses involved in these
activities; and
``(3) an identification of legal resources and other tools
to ensure small businesses can navigate the trade dispute and
remedy processes affordably.''.
SEC. 202. PATENT ASSISTANCE AND INTELLECTUAL PROPERTY
PROTECTIONS INITIATIVE.
Section 22 of the Small Business Act (15 U.S.C. 649), as
amended by this Act, is further amended by adding at the end
the following:
``(l) Patent Assistance and Intellectual Property
Protections Initiative.--In consultation with the United
States Patent and Trademark Office and the United States
Copyright Office, the Office shall design counseling
services, including identifying legal resources for small
businesses to secure intellectual property protection in
foreign countries. To implement the program, the Office shall
collaborate with district office staff to provide on-on-one
assistance to small businesses involved in these
activities.''.
TITLE III--TRADE ADJUSTMENT ASSISTANCE FOR SMALL BUSINESSES
SEC. 301. TRADE ADJUSTMENT ASSISTANCE FINANCING INITIATIVE.
Section 7(a) of the Small Business Act (15 U.S.C. 636(a))
is amended--
(1) in paragraph (2)(D) by inserting after ``paragraph
(14)(A),'' the following: ``or to participate in a loan made
under paragraph (16),''; and
(2) in paragraph (16)--
(A) in subparagraph (D) by striking clauses (i) and (ii)
and inserting the following:
``(i) is impacted by--
``(I) increased competition with foreign firms in the
relevant market; or
``(II) unfair trade practices, particularly intellectual
property violations; and
``(ii) is injured by such impacts.''; and
(B) by adding at the end the following:
``(E) Outreach and marketing.--The Administration shall
increase outreach and marketing of international trade loans
to district offices and private lenders.''.
SEC. 302. TECHNICAL RESOURCES FOR TRADE ADJUSTMENT
ASSISTANCE.
Section 22 of the Small Business Act (15 U.S.C. 649), as
amended by this Act, is further amended by adding at the end
the following:
``(m) Technical Resources for Trade Adjustment
Assistance.--
``(1) In general.--The director of the Office shall
establish a comprehensive set of services to assist small
business readjustment, including access to training,
technology, marketing assistance, and research and
information on domestic and global markets.
``(2) Implementation.--The Administrator shall, by
regulation, establish such requirements as may be necessary
to carry out paragraph (1).
[[Page H10027]]
``(3) Outreach.--The Office shall work with the district
offices and the outreach business assistance centers of the
Administration, including Small Business Development Centers,
Women's Business Centers, and SCORE, to offer the set of
services established under paragraph (1) to small businesses
in their local communities.''.
TITLE IV--EXPORT ASSISTANCE
SEC. 401. INCREASE SMALL BUSINESS ADMINISTRATION
PARTICIPATION AT EXPORT ASSISTANCE CENTERS.
Section 22 of the Small Business Act (15 U.S.C. 649), as
amended by this Act, is further amended by adding at the end
the following:
``(n) Trade Finance Positions.--
``(1) Additional trade finance specialists.--
``(A) In general.--The Office, over the 1-year period
beginning on the date of the enactment of this subsection,
shall increase the number of trade finance specialists at
Export Assistance Centers by at least 6 and thereafter shall
maintain the number of such trade finance specialists at or
above that number. Candidates for the positions are required
to have sufficient qualifications and experiences.
``(B) Authorization of appropriations.--There are
authorized to be appropriated to carry out subparagraph (A)
such sums as may be necessary.
``(2) Filling vacant positions.--The Office, over the 3-
month period beginning on the date of the enactment of this
subsection, shall fill all trade finance positions that have
been vacant since 2003. Candidates for the positions are
required to have sufficient qualifications and experiences.
``(3) Filling gaps in high-export-volume areas.--The
director of the Office shall--
``(A) not later than 1 year after the date of the enactment
of this subsection, carry out a national study to compare the
rate of exports from each State and major metropolitan region
to the availability of Administration staff participating in
Export Assistance Centers in such State or region;
``(B) not later than 2 years after such date of enactment,
design a formula to eliminate gaps between supply of, and
demand for, such staff in areas with high export volumes; and
``(C) request the additional staff that are required to
eliminate such gaps and place them in those areas.''.
SEC. 402. INCREASE ACCESS TO CAPITAL FOR SMALL AND MEDIUM-
SIZED EXPORTERS.
Section 7(a) of the Small Business Act (15 U.S.C. 636(a))
is amended--
(1) in paragraph (2)(D) by amending the heading to read as
follows: ``Participation under export working capital and
international trade programs''; and
(2) in paragraph (3)--
(A) in subparagraph (A) by striking ``subparagraph (B)''
and inserting ``subparagraphs (B) and (C)'';
(B) by redesignating subparagraphs (B) and (C) as (C) and
(D), respectively;
(C) by inserting after subparagraph (A) the following:
``(B) if the total amount outstanding and committed (by
participation or otherwise) solely for the purposes provided
in paragraphs (14)(A) and (16) to the borrower from the
business loan and investment fund established by this Act
would exceed $2,250,000 (or if the gross loan amount would
exceed $3,000,000), except as provided in subparagraph
(C);''; and
(D) in subparagraph (C) (as so redesignated) by striking
``$1,750,000, of which not more than $1,250,000'' and
inserting ``$2,250,000, of which not more than $1,600,000''.
SEC. 403. CLERICAL AMENDMENT.
Section 22(c)(5) of the Small Business Act (15 U.S.C. 649)
is amended by striking the period at the end and inserting a
semicolon.
TITLE V--AUTHORIZATION OF APPROPRIATIONS
SEC. 501. AUTHORIZATION OF APPROPRIATIONS.
There are authorized to be appropriated such sums as may be
necessary to carry out this Act and the amendments made by
this Act.
The SPEAKER pro tempore. Pursuant to the rule, the gentlewoman from
New York (Ms. Velazquez) and the gentleman from Ohio (Mr. Chabot) each
will control 20 minutes.
The Chair recognizes the gentlewoman from New York.
General Leave
Ms. VELAZQUEZ. Mr. Speaker, I ask unanimous consent that all Members
may have 5 legislative days to revise and extend their remarks and
include extraneous material on the bill under consideration.
The SPEAKER pro tempore. Is there objection to the request of the
gentlewoman from New York?
There was no objection.
Ms. VELAZQUEZ. Mr. Speaker, I yield myself such time as I may
consume.
International trade is a key part of our economic future, and
competition in the global marketplace will only increase in the years
to come. Consequently, our country is facing many decisions concerning
how we will engage in transnational commerce. To utilize resources
effectively and secure our industry's leadership, it is critical that
the Nation's trade strategy incorporates a key source of innovation in
world markets, small businesses.
I want to thank Representative Hall for introducing this legislation.
He has been a strong supporter of trade policies that will benefit all
Americans.
Small businesses that generate and develop new products have shown
that they can lead the way in building entire industries. They
represent virtually all of the country's exporting firms, improving our
trade balance and introducing U.S. products to consumers across the
world. With all of their success, these firms still face barriers to
maintaining domestic and international markets. As a result, although
the entrepreneurs are nearly 100 percent of export firms, they generate
less than one-third of revenues from these activities.
Given their contributions, it is critical that entrepreneurs are
considered in the Nation's trade strategy and that obstacles to their
competitiveness are removed. By enhancing the Small Business
Administration's focus to reflect the international-oriented demands of
small businesses, H.R. 2992 will ensure that entrepreneurs are able to
effectively incorporate trade into their business strategy.
The SBA Trade Programs Act of 2007 will provide small firms with a
comprehensive set of tools to thrive in a marketplace without borders.
It will assist them to overcome trade barriers by enhancing their
access to export financing, counseling and technical assistance
programs. The SBA's mandate is also expanded to ensure entrepreneurs
participate on a level playing field as they face global competition.
To make certain that small businesses have access to newly opened
world markets, H.R. 2992 requires the agencies to incorporate
entrepreneurs' interests into trade policies and plans. The bill
increases trade finance resources and the size of international trade
loans which will facilitate small exporters' overseas transactions.
These improvements will help to ensure that the Nation's trade
promotion strategy supports, and benefits from, U.S. small businesses.
Small firms play a crucial role in promoting the global
competitiveness of our country's industries. Including them in the
development of the U.S. trade policy will support the growth of the
Nation's economy, as well as to reduce the trade deficit. Effective
trade strategies, enforcement assistance, and export promotion
resources will ensure small businesses contribute to maintaining the
Nation's global leadership. Doing so will guarantee that benefits of
free trade are more widely distributed to not only businesses but also
more of our Nation's communities.
I strongly urge support of this legislation.
Mr. Speaker, I reserve the balance of my time.
Mr. CHABOT. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise today in support of H.R. 2992, the SBA Trade
Programs Act of 2007. The committee worked in a cooperative and
bipartisan basis to bring these changes in the SBA's operation of its
programs to enhance small business participation in the global economy.
H.R. 2992 represents the Small Business Committee's continued
commitment to promotion of international trade by America's small
businesses.
The Small Business Administration has a number of general
entrepreneurial assistance programs that provide technical advice to
small business owners. However, international trade is an area that is
fraught with regulatory issues requiring specialized knowledge that may
not be available from the SBA's entrepreneurial partners.
It is not surprising to find that the SBA created other programs to
meet the needs of small business exporters that rely on personnel with
specialized knowledge about the international trade regulatory regime.
These programs, as well as the SBA efforts to coordinate with other
agencies such as the Department of Commerce, have resulted in
remarkable gains in exports.
There are about a quarter of a million small businesses that export.
Revenue increased from $102.8 billion to $203 billion in 2004. There's
no doubt that small businesses are playing a vital role in reducing
America's trade deficit. Continuation of this success and even greater
impetus on small business exporting will benefit the American economy.
H.R. 2992 requires the Small Business Administration to expand its
trade
[[Page H10028]]
outreach initiatives and improve coordination of its trade promotion
activities with those of other Federal agencies such as United States
Trade Representative, the Department of Commerce, and the Export-Import
Bank.
The bill will increase the capacity of America's small businesses to
export. This will reduce our trade deficit and increase our national
and economic security.
Mr. Speaker, I reserve the balance of my time.
Ms. VELAZQUEZ. Mr. Speaker, I yield to one of the bill's original
cosponsors, the gentleman from Pennsylvania (Mr. Sestak), who is also
the vice-Chair of the Small Business Committee, as much time as he may
consume.
(Mr. SESTAK asked and was given permission to revise and extend his
remarks.)
Mr. SESTAK. Mr. Speaker, I thank the chairwoman and ranking member. I
very much appreciate your support on this bill, and I rise to speak
highly on it and thank, in particular, my colleague Mr. John Hall who
is also an original cosponsor.
I believe this bill has a lot to do with enhancing global
competitiveness of American small businesses. In fact, in May I held an
economic summit in my district in partnership with the U.S. Export
Assistance Center in Philadelphia. The day's program aimed to provide
business owners with information about the resources and services
provided by the local, State and Federal governments. The panel that
day particularly focused on how to help local small businesses export
their products to foreign markets, as well as on how firms interested
in expanding their businesses overseas could obtain trade financing.
I was extremely encouraged by the number of small business owners
interested in expanding their business into overseas markets during
this summit. However, this should come as no surprise since small
businesses make up 97 percent of all exporters and have contributed
greatly to the growth of exports overseas.
There is promise in the economic impact of trade among small
businesses. For example, with assistance from the Philadelphia Export
Assistance Center, Nielsen-Kellerman, a small business in my district
that designs and manufactures waterproof electronics for use in the
rowing industry, worked with trade specialists to expand globally and
since 2001 has signed nine dealer agreements in Germany and has
successfully sold products in Southeast Asia, Europe, Central America
and the Middle East. The firm continues to utilize the Export
Assistance Center for business counseling and guidance to further
expand their business overseas.
However, I also saw during my district's economic summit that small
exporters also face numerous challenges, such as higher transaction
costs, than do big business. They assume greater risk than larger
exporters, and they experience burdensome customs requirements which
limit their access to foreign markets, impeding small firms from
maximizing their full potential to expand their enterprises.
This legislation not only addresses the need for a focus on assisting
in overseas trading by calling for an annual trade strategy to increase
exports but also, Mr. Speaker, enhancing the level of export assistance
by increasing access to capital and establishing programs for trade
adjustment assistance to help small firms adjust to ever-changing
global economic conditions and demands.
I believe the SBA Trade Act is comprehensive legislation that is
critical to the economic security of our Nation and urge my colleagues
to support this legislation.
Mr. CHABOT. I will continue to reserve, Mr. Speaker.
Ms. VELAZQUEZ. Mr. Speaker, I yield to the gentlewoman from Ohio (Ms.
Sutton) as much time as she may consume.
(Ms. SUTTON asked and was given permission to revise and extend her
remarks.)
Ms. SUTTON. Mr. Speaker, I rise in strong support of H.R. 2992, the
SBA Trade Programs Act.
I want to thank Congressman Hall for introducing this important bill
and for his continued efforts to ensure our trade policies work for
American businesses and workers.
I also want to applaud the distinguished chairwoman, Chairwoman
Velazquez, for her leadership on this issue and dedication to helping
our small businesses.
This bill could not be more relevant because small businesses in Ohio
and across the Nation are struggling to compete because of sometimes
misguided U.S. trade policies and unfair and often illegal foreign
trade practices.
Small businesses and their workers are the backbone of communities in
Ohio and across this Nation. Just listen to the statistics:
Small businesses comprise 97 percent of all export enterprises but
only generate 30 percent of domestic export revenues, and that number
is shrinking. This is happening because our trade policies often
benefit large corporate interests and leave small businesses behind.
The trends also show that it is becoming more and more difficult for
American small businesses to compete against the unfair trade practices
of foreign nations, often propped up by governmental subsidies, weak
intellectual property laws, and currency manipulation.
H.R. 2992 will help small businesses become more competitive in the
international trade market. This bill will provide a comprehensive set
of resources to help small businesses by increasing export assistance,
strengthening small business trade policies, and providing adjustment
assistance.
These are very important steps we can take at the Small Business
Administration to help our local firms stay competitive; and while this
will help small business compete both domestically and globally, there
is clearly much more that needs to be done, including an overhaul of
U.S. trade policy to ensure that the needs of American businesses and
workers and communities are being met.
Unfortunately, our current trade policies put American businesses and
workers often at a disadvantage and reward companies who move overseas
or outsource jobs, and for communities like mine, Mr. Speaker, in
northeast Ohio where the creation and retention of jobs is the number
one issue, supporting our local industries and small businesses will be
critical to our ability to revitalize our economy and succeed in the
future.
Today, we move in the right direction by passing the SBA Trade
Programs Act; and, once again, I applaud Congressman Hall and
Chairwoman Velazquez for their leadership on this important issue and
for the hard work that they are doing.
Mr. CHABOT. Mr. Speaker, I have no additional speakers.
Ms. VELAZQUEZ. Mr. Speaker, I have no additional speakers.
Mr. CHABOT. I would urge my colleagues to support H.R. 2992, and I
yield back the balance of my time.
Ms. VELAZQUEZ. Mr. Speaker, I yield myself the balance of my time.
I just would like to say that Representative Hall's legislation, the
SBA Trade Programs Act of 2007, promotes the competitiveness of small
businesses in the global economy, assists them in adjusting to economic
dislocations, and makes certain their needs are represented in U.S.
trade policies.
Due to the increasing global pressures upon small businesses, this
modernization initiative has been widely supported. The legislation has
been endorsed by the U.S. Hispanic Chamber of Commerce, the National
Black Chamber of Commerce, the Small Business Exporter Association, the
National Small Business Association, and the Precision Metalforming
Association.
{time} 1445
I would like to conclude by thanking the staff that worked on this
legislation, from the Small Business Committee, Nicole Witenstein,
Michael Day, and Adam Minehardt; and from Mr. Sestak's staff, Clarence
Tong.
In conclusion, I would like to thank Congressman Hall and the
cosponsors for this timely bill. I strongly urge my colleagues to vote
for the SBA Trade Programs Act of 2007.
Mr. HALL of New York. Mr. Speaker, I would like to thank Chairwoman
Velazquez for doing such a wonderful job ushering this bill through her
committee and onto the House floor today. America's small business
community could not ask for a better ally and friend
[[Page H10029]]
in this body than the chairwoman of the Small Business Committee.
I am pleased today that H.R. 2992, the SBA Trade Programs Act of
2007, is being considered on the House Floor. As in many parts of the
country, the small businesses in New York's Hudson Valley are the
engine that drives our economy, and their success is vital to the
prosperity of our communities. In our increasingly shrinking world,
being successful throughout the global economy has taken on a vitally
important role. As a result, it is crucial that all businesses,
including small businesses, have a level playing field in international
trade.
Unfortunately, by their very nature small businesses do not have the
same opportunities to take part in international trade that their
larger competitors do. They are smaller and less able to take advantage
of the economy of scale. Many simply do not have the capital or the
logistical capability to devote to the cause. Most of the small
businesses in my district are located only a few miles from New York
City, the world's greatest international hub, and yet they often do not
have the capacity to take advantage of that location. Today, with this
bill, we hope to change that.
The SBA Trade Programs Act we have considered directs the Small
Business Administration's Office of International Trade to take a
number of steps specifically designed to help small businesses have a
greater opportunity to take part in international trade. It instructs
the OIT to capitalize on its relationship with the US Trade
Representative and international organizations to develop and implement
trade policies to support small businesses. This will enable small
businesses to take advantage of the system we have created for bigger
companies and has proven so helpful to American businesses.
It orders the OIT to establish an annual trade strategy for small
businesses, which includes specific ideas on ways to increase
competitiveness, better protect small businesses from unfair trade
practices, increase small business' exports, and expand the
representation of small businesses in creating and defining trade
policy.
It provides small businesses with technical assistance in trade
remedy investigations and dispute cases, two places where small
businesses have long been at a disadvantage as they often do not have
the financial capacity or manpower to deal with multiple jurisdictional
issues.
The bill calls on the OIT to design comprehensive services to assist
small businesses adjust to global climate conditions and increase loans
and loan guarantees to small business exporters. By increasing loan
availability small businesses will have greater access to the capital
required for successful international business opportunities. And the
assistive services will better enable small businesses to adapt to the
differing tastes and desires of foreign markets.
This bill will provide assistance for businesses that require legal
resources to help secure intellectual property protection. It will also
expand eligibility requirements for international trade loans to
include intellectual property violations as well as other trade
practices with negative financial repercussions. These provisions are
especially relevant because intellectual property remains one of our
country's most important exports. Yet the extent and scope of their
protection varies significantly from country to country. Any company
looking to protect their intellectual property must be aware of the
protections offered, and not offered; in each jurisdiction in which
they have a presence. This bill will provide the appropriate resources
so that America's small businesses can protect, and if need be, defend
their intellectual property rights.
Mr. Speaker. This is an important bill. It is a bill that will
provide a significant benefit to America's small businesses and open
doors to them have been shut for far too long. I urge every member of
the House to support it. Once again, I thank Chairwoman Velazquez and
the rest of the small business committee for such great work in
bringing this bill to the floor.
Ms. VELAZQUEZ. Mr. Speaker, I yield back the balance of my time.
The SPEAKER pro tempore. The question is on the motion offered by the
gentlewoman from New York (Ms. Velazquez) that the House suspend the
rules and pass the bill, H.R. 2992, as amended.
The question was taken; and (two-thirds being in the affirmative) the
rules were suspended and the bill, as amended, was passed.
A motion to reconsider was laid on the table.
____________________