CONGRESS FOR VOTERS

Edward Markey (D-MA)

Investing in the American Dream Act

S. 4411 · Senate bill Commerce

A Democratic bill with 24 Democratic cosponsors · See all 24 cosponsors

Last activity — Read twice and referred to the Committee on Small Business and Entrepreneurship.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

The Investing in the American Dream Act aims to clarify eligibility requirements for small business loans. It defines "covered loans" to include specific types of loans and guarantees under the Small Business Act and the Small Business Investment Act of 1958. The bill defines "eligible individuals," which includes various categories of aliens such as those granted asylum, refugees, certain nonimmigrants, and those granted deferred action. To qualify for a covered loan, a small business concern must be located in the United States and at least 51 percent owned and controlled by U.S. citizens, nationals, or eligible individuals. It explicitly states that a business cannot be denied eligibility simply because it is owned by these eligible individuals.

Yes· 3 of 5

  • Scored +7

    Would immigrants be better off under this?

    The bill specifically protects and clarifies loan eligibility for various statuses, including refugees and those with deferred action.

  • Scored +6

    Does this make it easier to run a small business?

    The bill explicitly clarifies and protects eligibility for small businesses owned by specific non-citizen groups.

  • Scored +5

    Would business owners be better off under this?

    The bill expands the potential pool of small business owners eligible for government-guaranteed loans.

The opposite

No question was scored the opposite.