Congressman Cory Mills Introduces the Preventing SBA Assistance from Going to China Act
Washington, D.C. — In an effort to protect and prioritize American businesses, not those backed by adversarial nations, Representative Cory Mills (FL-07) introduced the Preventing SBA Assistance from Going to China Act (H.R. 9904). This bill would prohibit businesses headquartered in the People’s Republic of China or those with over 25% of their voting stock owned by affiliates of the People’s Republic of China from accessing Small Business Administration (SBA) assistance. Original cosponsors include Reps. Gregory Steube (FL-17), Daniel Webster (FL-11), Randy Weber (TX-14), Clay Higgins (LA-03), and Scott DesJarlais (TN-04).
“After Hurricanes Debby, Helene, and Milton, small businesses need immediate relief to recover and rebuild. These businesses are the backbone of our economy, creating jobs, serving communities, and driving growth. We must take action and prioritize America and its people by supporting our small businesses, ensuring they remain the driving force behind our prosperity,” said Rep. Cory Mills (FL-07). “NO relief should go to companies with financial or political ties to China or its communist regime. The Small Business Administration must prioritize true American-owned businesses. We will protect and support Florida’s small business community and make sure they emerge stronger and more resilient than ever.”.
“SBA disaster assistance is intended for American businesses impacted by natural disasters. Many businesses in Florida are hurting following Debby, Helene and Milton. They rely on this assistance to rebuild their businesses and help get their employees back on their feet. Not a dime of that assistance should be awarded to companies with financial and political ties to China. The Preventing SBA Assistance from Going to China Act strengthens SBA disaster assistance requirements so we prioritize the needs of taxpaying American citizens and stop China from taking advantage of resources intended for America’s businessowners,” said Rep. Greg Steube (FL-17).
Read the full bill HERE.
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