Senator Todd Young, US Senator for Indiana | Official U.S. Senate headshot
Senator Todd Young, US Senator for Indiana | Official U.S. Senate headshot
The U.S. Senate Committee on Small Business and Entrepreneurship has advanced legislation aimed at preventing fraudsters from taking advantage of Small Business Administration (SBA) programs. Senators Todd Young and Joni Ernst have introduced the Assisting Small Businesses Not Fraudsters Act, which seeks to prohibit individuals convicted of defrauding the SBA from obtaining further assistance.
"Covid-era programs meant to support small businesses were repeatedly taken advantage of by fraudsters, depriving businesses of much-needed relief. I’m leading this effort to ensure that those convicted of defrauding the SBA will no longer be able to access future financial assistance from taxpayers," stated Senator Young.
Senator Ernst added, "After the previous administration failed to pursue pandemic fraud, we are making up for lost time by holding criminals accountable."
The bill will now be considered by the full Senate.
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