Young Calls for Passage of His Bill to Crack Down on Fraudsters

**Click here or above to watch Senator Young’s floor speech** WASHINGTON – U.S. Senator Todd Young (R-Ind.) spoke on the Senate floor in support of his Assisting Small Businesses, Not Fraudsters Act , legislation that would bar individuals convicted of defrauding certain COVID-era Small Business Administration loan and grant programs from receiving future SBA financial assistance. To watch Senator Young’s full floor speech, click here . Excerpts from Senator Young’s remarks: “Over 1.2 million Hoosiers are employed by small businesses. As you look across our nation, small businesses are the backbone of our modern economy. “In fact, the way to grow an economy is to figure out how to get more people to start businesses and to grow those small businesses into larger businesses. “Our federal small business programs exist for that purpose: to help hardworking entrepreneurs grow their businesses, to create more jobs. “They don’t exist to reward those who have defrauded taxpayers. That’s not why they exist. “And unfortunately, during the COVID pandemic, some individuals exploited emergency Small Business Administration relief programs for personal gain. “Their actions diverted resources away from legitimate small businesses in Indiana and across the country, and they undermined confidence in these important programs. “So, the principle behind my bill is quite simple: If someone is convicted of defrauding the Small Business Administration through certain COVID-era loan or grant programs, then that individual should not be eligible to receive future financial assistance from the Small Business Administration. … “Honest, hard-working entrepreneurs and small business owners shouldn’t have to compete with convicted fraudsters for federal opportunities. “Every taxpayer dollar lost to fraud is a dollar that cannot help legitimate small businesses expand, hire workers, or invest in their future. … “So, I urge all of my colleagues to support this package and my Assisting Small Businesses, Not Fraudsters Act .”