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The House passed the State Trade Expansion Program (STEP) Improvement Act of 2022 (H.R. 8844), a bipartisan bill introduced by U.S. Reps. Young Kim (CA-39), Dwight Evans (PA-03), Mike Flood (NE-01) and Marie Newman (IL-03) that would improve the STEP program to support U.S. small business exports.
The STEP Improvement Act aims to increase the number of U.S. small businesses in exporting by:
- Reauthorizing the STEP program for four fiscal years;
- Improving the program by creating a standardized application process;
- Boosting communication between the Small Business Administration (SBA) and states; and,
- Collecting metrics on performance goals.
“Our small businesses are the key to creating jobs and unlocking economic opportunities across local communities,” said Rep. Kim. “The STEP Improvement Act helps small businesses reach new markets by incentivizing more exports of American goods and services. I thank my House colleagues for supporting this bipartisan effort. I will keep working to strengthen our global competitiveness and support entrepreneurs chasing their American dream.”
Read the bill here.
