A Republican bill with 2 Democratic cosponsors · See all 3 cosponsors
Last activity — Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
In the other chamber's committee
Passed one chamber and has been handed to a committee in the other.
The committee decides whether it goes any further, and most bills that reach a committee never leave it. A committee that simply does nothing kills a bill without anyone ever voting against it, so no news from here is usually the news.
Its path through Congress
- Introduced
- Passed House voice vote
- In Senate committee
The House by voice vote (members called out yes or no together): no member's position on it was recorded.
What this bill would do
This Act, known as the "COVID Fraud Transparency Act of 2026," focuses on oversight of COVID-19 loans. It requires the Inspector General of the Small Business Administration to submit quarterly reports to specific House and Senate committees. These reports must detail the number and total dollar amount of covered loans, as well as new and suspected fraud cases. The reports must also include the number of resolved fraud cases and the types of fraud involved. This oversight mandate is set to terminate two years after the Act is enacted.
Yes
- Scored +5
Does this make what the government does easier for the public to see?
The bill mandates quarterly reports to Congress detailing loan amounts and fraud statistics to increase public and legislative visibility into SBA loan administration.
- Scored +3
Does this make the government pay for what it commits to?
The bill increases oversight and transparency regarding fraud in COVID-19 loans, which helps monitor the integrity of federal funds.
The opposite
- Scored -2
Does this make it easier to run a small business?
The act increases oversight on loan processes which may increase scrutiny for small business borrowers, though it does not provide direct support.
- Scored -1
Would business owners be better off under this?
Increased fraud reporting and oversight may create more rigorous scrutiny for business owners seeking or managing loans.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Transparency: The bill requires the Inspector General to report the number and total dollar amount of all covered loans, the number of new and suspected fraud cases, and the number of resolved cases (Section 2(a) and 2(b)). This provides clear information regarding the status of these loans.
-
Accountability for Fraud: By requiring reports on the types of fraud cases and the number of cases resolved (Section 2(b)), the act seeks to track how fraud is being handled regarding certain COVID-19 loans.
Potential Negative Impacts for People
- Lack of Funding: The act explicitly states that no funds are authorized to be appropriated to carry out the requirements of this Act (Section 3).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill mandates quarterly reports to Congress detailing loan amounts and fraud statistics to increase public and legislative visibility into SBA loan administration.
- Demographic And Interest Groups
- Would business owners be better off under this? — Increased fraud reporting and oversight may create more rigorous scrutiny for business owners seeking or managing loans.
- Economy And Finance
- Does this make the government pay for what it commits to? — The bill increases oversight and transparency regarding fraud in COVID-19 loans, which helps monitor the integrity of federal funds. Does this make it easier to run a small business? — The act increases oversight on loan processes which may increase scrutiny for small business borrowers, though it does not provide direct support.
- 6/24/2026
- Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- 6/23/2026
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4141)
- DEBATE - The House proceeded with forty minutes of debate on H.R. 826.
- Considered under suspension of the rules. (consideration: CR H4141-4142)
- Mr. Williams (TX) moved to suspend the rules and pass the bill, as amended.
- 6/3/2026
- Reported (Amended) by the Committee on Small Business. H. Rept. 119-677.
- Placed on the Union Calendar, Calendar No. 590.
- 5/20/2026
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 23 - 0.
- 1/28/2025
- Referred to the House Committee on Small Business.
- 3 Cosponsors added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Aaron BeanRepublican · Florida
George LatimerDemocrat · New York
Kweisi MfumeDemocrat · Maryland