GovTrack: House Record: SBA TRADE PROGRAMS ACT OF 2007 (110-h20070904-18)

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Congress > Congressional Record > Sep 4, 2007

SBA TRADE PROGRAMS ACT OF 2007

The United States House of Representative

Sep 4, 2007

Section 18

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	Rep. Chabot [R-OH1]: 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...
	Rep. Sestak [D-PA7]: 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...
	Rep. Sutton [D-OH13]: 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...
	Rep. Chabot [R-OH1]: Mr. Speaker, I have no additional speakers. Ms. VELÁZQUEZ. Mr. Speaker, I have no additional speakers. I would urge my colleagues to support H.R. 2992, and...
	Rep. Hall [D-NY19]: Mr. Speaker, I would like to thank Chairwoman Velázquez for doing such a wonderful job ushering this bill through her committee and onto the House floor today....

Record Text

SBA TRADE PROGRAMS ACT OF 2007 -- (House of Representatives - September 04, 2007)<center><pre>[Page: H10026]

Ms. VELÁZQUEZ. 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.

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.

Sec..201..Trade Remedy and Dispute Assistance Initiative.   Sec..202..Patent Assistance and Intellectual Property Protections Initiative.

Sec..301..Trade Adjustment Assistance Financing Initiative.   Sec..302..Technical resources for trade adjustment 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.

Sec..501..Authorization of appropriations.

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.".

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.".   <center>TITLE III--TRADE ADJUSTMENT ASSISTANCE FOR SMALL BUSINESSES</center>

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).     "(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.".

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.

There are authorized to be appropriated such sums as may be necessary to carry out this Act and the amendments made by this Act.

Chair: Pursuant to the rule, the gentlewoman from New York (Ms. Velázquez) and the gentleman from Ohio (Mr. Chabot) each will control 20 minutes.

Chair: The Chair recognizes the gentlewoman from New York.

Chair: Ms. VELÁZQUEZ. 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.

Chair: Is there objection to the request of the gentlewoman from New York?

Chair: There was no objection.

Chair: Ms. VELÁZQUEZ. Mr. Speaker, I yield myself such time as I may consume.

Chair: 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.

Chair: I want to thank Representative Hall for introducing this legislation. He has been a strong supporter of trade policies that will benefit all Americans.

Chair: 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.

Chair: 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.

Chair: 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.

Chair: 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.

Chair: 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.

Chair: I strongly urge support of this legislation.

Chair: Mr. Speaker, I reserve the balance of my time.

Rep. Steven Chabot [R-OH1]: 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 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. VELÁZQUEZ. 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.)

Rep. Joe Sestak [D-PA7]: 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.

Rep. Steven Chabot [R-OH1]: I will continue to reserve, Mr. Speaker.

Ms. VELÁZQUEZ. 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.)

Rep. Betty Sutton [D-OH13]: 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 Velázquez, 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 Velázquez for their leadership on this important issue and for the hard work that they are doing.

Rep. Steven Chabot [R-OH1]: Mr. Speaker, I have no additional speakers.

Ms. VELÁZQUEZ. Mr. Speaker, I have no additional speakers.

I would urge my colleagues to support H.R. 2992, and I yield back the balance of my time.

Ms. VELÁZQUEZ. 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.

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.

Rep. John Hall [D-NY19]: Mr. Speaker, I would like to thank Chairwoman Velázquez 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 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 Velázquez and the rest of the small business committee for such great work in bringing this bill to the floor.

Ms. VELÁZQUEZ. Mr. Speaker, I yield back the balance of my time.

Chair: The question is on the motion offered by the gentlewoman from New York (Ms. Velázquez) that the House suspend the rules and pass the bill, H.R. 2992, as amended.

Chair: The question was taken; and (two-thirds being in the affirmative) the rules were suspended and the bill, as amended, was passed.

Chair: A motion to reconsider was laid on the table.

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