East Central Texas News

In a recent legislative move, Congressman Ellzey, along with his colleagues, has successfully passed H.R. 6591 – the Encouraging Success Act. The bill aims to address issues within the Small Business Administration's 8(a) program, specifically focusing on the asset threshold that can impact small businesses' ability to compete in the market.

Congressman Ellzey highlighted the significance of the bill by stating, "This bill helps solve this situation and encourages the success of small businesses by compelling the SBA Administrator to review the qualification caps with greater frequency to ensure that small businesses participating in the 8a program are allowed to grow big enough to compete with larger companies once their participation in the program ends." He further emphasized the House's support for small businesses, ensuring they are not penalized for their growth and success.

The Small Business Administration's 8(a) program, established in the 1970s, aims to assist disadvantaged small businesses in competing for government contracts. However, the existing asset threshold has not been updated to align with market changes, potentially hindering the growth and competitiveness of small businesses in the program.

The passage of H.R. 6591 signifies a proactive step towards supporting the growth and success of small businesses participating in the 8(a) program. By mandating a more frequent review of qualification caps, the bill aims to enable small businesses to expand and compete effectively with larger corporations.

For more information on the Encouraging Success Act and its implications, visit the official permalink: [House Passes H.R. 6591 – the Encouraging Success Act](https://ellzey.house.gov/2024/2/house-passes-h-r-6591-the-encouraging-success-act).