Indy Standard

The U.S. Senate Committee on Small Business and Entrepreneurship has advanced a legislative proposal aimed at curbing fraud. Sponsored by U.S. Senators Todd Young and Joni Ernst, the bill—named the Assisting Small Businesses Not Fraudsters Act—seeks to prevent individuals convicted of defrauding the Small Business Administration (SBA) from obtaining future support from the agency.

Senator Young emphasized the misuse of COVID-era programs intended to assist small businesses, noting, "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."

Senator Ernst highlighted efforts to address past oversights, stating, "After the previous administration failed to pursue pandemic fraud, we are making up for lost time by holding criminals accountable."

The bill will now move to the full Senate for further evaluation.