Blaine Luetkemeyer: “I have no further speakers, and I am prepared to close. I yield myself such time as I may consume. Madam Speaker, fraud…”

“I have no further speakers, and I am prepared to close. I yield myself such time as I may consume. Madam Speaker, fraud associated with the EIDL program is a serious matter. Due to mismanagement and poor oversight capabilities, the EIDL program has been overwhelmed with fraud. As I mentioned earlier, the SBA's inspector general has found more than $80 billion within the $400 billion program that could potentially be fraudulent. This represents a double-digit fraud rate. However, recouping these dollars has just begun and the current statute of limitations is limited. My bill, H.R. 7334, will ensure the statute of limitations runway is recalibrated and extended out to 10 years. By passing this bill, Congress will allow the time needed to correct all wrongdoing within the program. I urge my colleagues to support H.R. 7334, and I yield back the balance of my time.”