Joni Ernst: “I rise today as the Senate puts small business first in America's innovation program and gives them the certainty they…”

“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.”