WASHINGTON – Today, the House Committee on Small Business voted to advance a bipartisan bill to extend the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs through the fiscal year.
SBIR and STTR have a four-decade track record of fueling groundbreaking innovation by small firms and delivering strong return on investment for taxpayers. The programs are set to expire at the end of September without action from Congress.
During the Committee markup of the legislation, Ranking Member Nydia M. Velázquez (D-NY) discussed the importance of avoiding a program lapse as negotiation on long-term reauthorization continues.
“SBIR and STTR are some of the federal government’s most effective tools to drive innovation and help small businesses bring new technologies to market,” said Ranking Member Velázquez. “Letting these programs lapse, even briefly, would disrupt hundreds of small firms, disrupt promising research, and put our national security at risk. This one-year extension is the responsible step forward as we work toward a permanent, bipartisan solution.”
