Cortez Masto, Young Introduce Bipartisan Legislation to GIVE Small Businesses a Boost

Washington, D.C. –Today, U.S. Senators Catherine Cortez Masto (D-Nev.) and Todd Young (R-Ind.) introduced bipartisan legislation to ensure America’s small businesses can compete in the 21stcentury economy. TheSmall Business Innovation Voucher Actwould create a voucher program at the Small Business Administration (SBA) to provide grants for small businesses to partner with higher education institutions to conduct research and development.
“Nevada’s entrepreneurs are at the forefront of job creation and economic growth in the Silver State,”said Senator Cortez Masto.“Unfortunately, not every small business owner has the tools and resources to turn a great idea into a technological innovation. This bipartisan legislation would match trailblazing Nevadans with the cutting-edge laboratories and academic expertise our universities are known for.”
“Our Small Business Innovation Voucher program will build on Indiana’s existing voucher program to facilitate public-private partnerships between small businesses and our world-renowned research institutions. Giving Hoosier entrepreneurs expanded access to world-class lab space and scientists will help drive innovation and enhance economic opportunity across Indiana,”said Senator Young.
TheSmall Business Innovation Voucher Actwould allow small businesses to work with any institution of higher education to compete for grants to facilitate cooperation on research and development and commercialization of new technologies.Specifically, the bill would:
Senator Cortez Masto is a champion for Nevada’s small businesses. She hasintroducedbipartisan legislation to require the SBA to provide annual awards to state and local governments that streamline the process of small business formation. She hasfoughtto protect funding for broadband access in rural areas to close the digital divide for small businesses. This year, she stood with small businesses inSouthernandNorthernNevada to highlight the devastating impacts the chaos of the Trump Administration’s tariffs have had on the cost of operating small businesses and on the American economy itself. In DC, shehosteda spotlight hearing to speak with small business owners about the squeeze they are feeling from the tariffs.
###