Senators Rick Scott and Tim Scott, along with Ted Budd, Adam Schiff, and Marsha Blackburn, have introduced the SBA Disaster Transparency Act, a bipartisan bill aimed at increasing transparency in the Small Business Administration’s (SBA) Disaster Loan Account.
The legislation would require the SBA to publicly release monthly reports on the status of its Disaster Loan Account, mirroring the reporting model used by the Federal Emergency Management Agency (FEMA) for its Disaster Relief Fund (DRF) since 2015.
The bill seeks to ensure that taxpayers have clear insight into how disaster relief funds are allocated and spent.
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Senator Rick Scott emphasized the need for transparency, stating, “The American people have every right to know where their tax dollars are being spent and hold their government accountable. I’m proud to join my colleagues to introduce the SBA Disaster Transparency Act to bring more transparency to the federal government.”
The bill comes as natural disasters across the U.S. continue to strain relief efforts. Senator Tim Scott highlighted the need for proactive oversight following Hurricane Helene, which caused widespread devastation in South Carolina.
“When I surveyed the devastation from Hurricane Helene, I knew the road to recovery would be long and difficult, but that South Carolinians are resilient. The SBA Disaster Transparency Act makes simple but necessary reforms to the Disaster Loan Account that will provide increased transparency and ensure Congress is able to act before it’s too late.”
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He added that he remains committed to working with President Trump and Congress to ensure top-tier disaster response efforts are in place.
The bill has garnered bipartisan backing, with Senator Adam Schiff (D-CA) underscoring its importance following the devastating wildfires in Los Angeles, “In the aftermath of the fires in Los Angeles that have devastated our communities, we are introducing this bipartisan bill to hold the SBA accountable and improve transparency of available disaster funds. With this oversight, we can help ensure those impacted receive the support and funding they deserve in order to swiftly recover and rebuild.”
Senator Ted Budd (R-NC) pointed out the need for greater oversight after recent natural disasters exposed inadequate planning in the SBA’s disaster relief program,”The people of Western North Carolina should not be put in a position where the SBA’s account is depleted due to inadequate planning. These loans should follow the same reporting requirements as other agencies, like FEMA, so that funds are available when needed. I’m proud to join Senator Tim Scott to bring accountability to SBA’s disaster loans.”
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Senator Marsha Blackburn (R-TN) echoed the need for transparency, particularly for communities rebuilding after natural disasters, “Communities in Tennessee and across the country that are rebuilding from natural disasters deserve full transparency on how federal dollars are being spent towards recovery. The SBA Disaster Transparency Act would require monthly reporting for the Disaster Loan Account to be open to the public.”
The SBA Disaster Transparency Act is now set to be debated in Congress, with bipartisan support increasing the likelihood of passage. If enacted, the bill would ensure that disaster relief funds are monitored effectively, prevent mismanagement, and provide the public with clear insights into federal disaster spending.
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