SBIR/STTR Reauthorization Act

As part of our continued commitment to supporting America's small businesses, Senate Democrats ushered reauthorizations of the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs into law in December 2011, ending three years of crippling uncertainty created by short-term extensions. The SBIR program is one of the most successful commercial innovation programs for American small-businesses. SBIR-backed firms have been responsible for roughly 25% of the nation's most crucial innovations over the past decade, account for 38% of America's patents, and employ 40% of America's scientists and engineers.  Since 1983, more than 136,000 SBIR and STTR awards have been made totaling more than $33 billion in investments in the jobs of the future, including $2.3 billion in 2011 alone. Respondents to a National Research Council survey of SBIR awardees indicated that, directly because of their SBIR grant or contract, they were able to hire an average of 2.4 employees and retain 2.1 more.

Small Business Jobs Act

In September 2010, Senate Democrats secured the passage of the Small Business Jobs Act, which provided $12 billion in tax relief to help small businesses create and retain jobs.  The Act led to record-breaking Small Business Administration (SBA) lending in 2011, with SBA loans supporting $30 billion in new investments to create jobs. The increase in access to capital helps small businesses get new equipment, open new locations, and most importantly, hire more workers.