Bills · S 202
IN COMMITTEE· 119TH CONGRESS
Senate BillS 202Commerce
Helping Small Businesses THRIVE Act
INTRO JAN 23· LAST ACTION JAN 23
READING
13MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it aims to provide a new way for small businesses to handle a common and often challenging problem: unpredictable costs for essential goods. When the price of raw materials or fuel suddenly jumps, it can significantly reduce a small business's profits, force them to raise prices for customers, or even lead to business closure. This bill offers a tool to help these businesses protect themselves financially.
If this bill becomes law, small businesses could have a mechanism to smooth out their operating costs, making it easier to budget and plan for the future. Without this program, many small businesses would continue to bear the full impact of commodity price fluctuations, which can contribute to economic instability, higher consumer prices, and business failures during periods of inflation or supply chain disruptions. It could also help small businesses compete more effectively with larger companies that often have greater resources to manage market risks.
KEY PROVISIONS
5AI-extractedPROVISION 01
Requires the Small Business Administration (SBA) to establish the "Helping Small Businesses Thrive Program" within one year of the bill becoming law.
This provision sets the timeline for the creation of the core program designed to assist small businesses.
PROVISION 02
The program's purpose is to help eligible small businesses use commodity futures to manage risks from rising costs of essential goods and raw materials.
This outlines the specific financial tool and the economic problem the program aims to address for small businesses.
PROVISION 03
The SBA Administrator will determine which specific commodities are covered and will create guidance for small businesses on how to apply and participate in the program.
This ensures the program is tailored to relevant commodities and that small businesses receive necessary information and support.
PROVISION 04
Excludes certain types of businesses, such as financial institutions, investment advisors, and businesses operating for less than one year, from participating.
This ensures the program focuses on its intended beneficiaries and prevents participation by entities already equipped to handle such financial instruments.
PROVISION 05
The SBA will conduct extensive outreach, including providing informational materials, webinars, a website, and a telephone line, to inform and assist small businesses.
This aims to ensure that eligible small businesses are aware of and can effectively access the program's benefits.
SPONSORSHIP
1 + 1
D· New Hampshire
YRS IN OFFICE
17
BILLS LED
99
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 1 IND 0
ACTION TIMELINE
2 EVENTSJAN 23
Introduced in Senate
JAN 23
Read twice and referred to the Committee on Small Business and Entrepreneurship.
BILL INFO
TypeSenate Bill
NumberS 202
Congress119th
StatusIn Committee
IntroducedJan 23, 2025
Last actionJan 23, 2025
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IN COMMITTEE· 119TH CONGRESS · SMALL BUSINESS AND ENTREPRENEURSHIP COMMITTEE · INTRODUCED JAN 23, 2025
Senate BillS 202Commerce
Helping Small Businesses THRIVE Act
INTRODUCED JAN 23, 2025· LAST ACTION JAN 23, 2025
PASSAGE CHANCES
—%
READING
13 min
COSPONSORS
1
COMPLEXITY
Moderate
